Forecasts & Analysis | Crude Oil, Page 4

  • Christopher Lewis
    Christopher Lewis

    Crude Oil Price Forecast – Crude oil continues to consolidate

    Crude oil markets went back and forth during the trading session yet again on Wednesday as the inventory number was horrible. However, we are still stuck in a very tight range, so therefore not much has changed.

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  • James Hyerczyk
    James Hyerczyk

    Crude Oil Price Update – EIA Report Shows Inventories Surged by 7.1 Million Barrels

    Based on the early price action, the direction of the April WTI crude oil futures contract the rest of the session is likely to be determined by trader reaction to the uptrending Gann angle at $55.62. Getting closer to major target zone at $54.72 to $53.98.

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  • Colin First
    Colin First

    USD/CAD Daily Price Forecast – USD/CAD Hits 3-Week High On Declining Crude Oil Price

    USDCAD is awaiting directional cues having breached 3-week highs and macro data outcome from US & Canada today will likely facilitate further bullish price action.

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  • James Hyerczyk
    James Hyerczyk

    Oil Price Fundamental Daily Forecast – Bearish EIA Report Could Spike Prices Lower

    The market is likely to trade in a tight range until the release of today’s U.S. Energy Information Administration report on crude oil inventories at 15:30 GMT. The report is expected to show a build of 1.2 million barrels. Estimates may change ahead of the report, given the API figures.

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  • Colin First
    Colin First

    Commodities Daily Forecast – March 6, 2019

    GoldThe gold prices drifted a little bit lower during Tuesday’s session as the market has gained a lot of bearish momentum. The $1280 level is supportive and should attract buyers and if it breaks below, then it could reach all the way down to $1250 level. The 200 Day EMA

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  • Christopher Lewis
    Christopher Lewis

    Crude Oil Price Forecast – Crude continues to chop in range

    The crude oil markets try to go back and forth and find an exit to the tight range that we have been in on Tuesday but have failed yet again. Because of this, the market looks as if it remains a short-term range bound type of situation.

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  • James Hyerczyk
    James Hyerczyk

    Oil Price Fundamental Daily Forecast – Rangebound Until Trade Deal is Announced

    There is nothing in the news today that could be perceived as bullish so we expect to see gains capped. Underpinning prices will be the OPEC-led production cuts as well as the U.S. sanctions on Iran and Venezuela. Prices of both WTI and Brent are likely to remain rangebound over

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  • Colin First
    Colin First

    Commodities Daily Forecast – March 5, 2019

    GoldThe gold prices broke down during Monday’s session, breaking below $1290 level to reach towards the 50 Day EMA slope. The $1280 level underneath is a strong support point for the market and is likely to attract back buyers into the market. A break below $1280 level would be a

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  • Christopher Lewis
    Christopher Lewis

    Crude Oil Price Forecast – Crude oil rallies to kick off week

    The crude oil markets rallied a bit during the trading session on Monday to kick off the week, as we continue to go back and forth overall. That being the case, it’s obvious that we are trying to build up the necessary momentum for the next move.

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  • James Hyerczyk
    James Hyerczyk

    Crude Oil Price Update – Momentum Shifts to Downside on Trade Through $55.57

    Based on the early price action, the direction of the April WTI crude oil futures contract on Monday is likely to be determined by trader reaction to an uptrending Gann angle at $56.02.

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  • James Hyerczyk
    James Hyerczyk

    Oil Price Fundamental Daily Forecast – Signs of Tightening Supply, but Demand Remains May Concern

    Traders are likely to continue to react bearishly to any news that suggests lower demand or a weakening U.S. or global economy. However, investors could turn bullish if the U.S. and China reach a trade deal in a timely manner.

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  • Colin First
    Colin First

    Commodities Daily Forecast – March 4, 2019

    GoldThe gold prices broke down significantly and have sliced through $1300 level, showing signs of weakness after the release of ISM Manufacturing PMI numbers. The market has strong support underneath which all extends down to the $1275 level and if it could turnaround the break above the $1325 level in

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  • Colin First
    Colin First

    Crude Oil Monthly Forecast – March 2019

    Following last months positive price action, price per barrel of crude oil is likely to consolidate near or above $55 handle and trade range bound with positive bias while observing headlines relating to trade talks between major global players & upcoming OPEC summit for directional bias.

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  • James Hyerczyk
    James Hyerczyk

    Oil Price Fundamental Weekly Forecast – U.S.-China Trade Deal Will Ease Concerns Over Future Demand

    Despite the steep sell-off last week, the market is likely to continue to be underpinned by the OPEC-led production cuts, and the U.S. sanctions against Iran and Venezuela. However, the selling pressure was real, which suggests the sell-off could continue until WTI and Brent crude oil reach value zones on

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  • Colin First
    Colin First

    USD/CAD Daily Price Forecast – Positive Crude Oil Price Keeps USDCAD Rangebound Ahead of US PMI Update

    US macro data eyed for directional cues as the trading session comes to close for the week.

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  • Christopher Lewis
    Christopher Lewis

    Crude Oil Weekly Price Forecast – Crude oil markets continue to grind

    Crude oil markets fell during the week, as we continue to see a lot of grinding and back and forth at what seems to be significant resistance. At this point, there are a lot of different things going on that are causing crosswinds, and therefore it is going to remain

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  • Christopher Lewis
    Christopher Lewis

    Crude Oil Price Forecast – Crude oil gets hammered

    Crude oil markets got hammered during the session on Friday, after initially trying to rally. That being said, we are still within the tolerance of the range, so at this point nothing has changed, but it certainly shows just how tenuous the situation is.

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  • Colin First
    Colin First

    Precious Metals Decline as Dollar Rebounds

    Gold falls sharp on USD’s rebound but increased demand on low prices and demand in physical market limited decline below psychological price levels.

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  • James Hyerczyk
    James Hyerczyk

    Oil Price Fundamental Daily Forecast – ISM Manufacturing PMI Could Influence Price Action Today

    OPEC and its allies continue to provide the most support with its production cuts of about 1.2 million barrels per day. The cuts are being further supported by the U.S.-led sanctions against Iran and Venezuela. A Reuters poll showed analysts expect global fuel demand to slow this year amid a

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  • Colin First
    Colin First

    Commodities Daily Forecast – March 1, 2019

    GoldThe gold prices fell lower during Thursday’s session after the US posted better than expected GDP and other economic data. The $1300 level should continue to offer strong support to the market and given enough time, the market will gain enough momentum to continue going higher. If it breaks below

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