Markets

Crude Oil (CLN2) Forecast

51.165
09:40:10(GMT)
0.1450
(0.28%)*Daily Change
David Becker
4 hours ago

WTI Crude Daily Update for December 9, 2016

WTI crude oil prices rebounded on Thursday, after testing support near the 10-day moving average at 49.39, but failing to continue to downtrend that began following Wednesday’s release of inventory numbers from the Department of Energy.  While total crude oil stocks declined, there was a noticeably large increase in inventories at Cushing were WTI crude … Continue reading WTI Crude Daily Update for December 9, 2016

Christopher Lewis
5 hours ago

Crude Oil Forecast December 9, 2016, Technical Analysis

WTI Crude Oil The WTI Crude Oil market went back and forth on Thursday as the $50 level continues to attract a lot of attention in the market. This is not only because there is a large, round, psychologically significant number of this area, but as you can see on the chart, there’s also a … Continue reading Crude Oil Forecast December 9, 2016, Technical Analysis

James Hyerczyk
12 hours ago

Oil Fundamental Forecast – December 9, 2016

After three days of lower-lows and two consecutive lower closes, crude oil prices rebounded on Thursday to finish higher for the session. The turnaround was driven by growing optimism that non-OPEC producers might agree to cut output following a cartel agreement to limit production. January West Texas Intermediate crude oil closed at $50.84, up $1.07 … Continue reading Oil Fundamental Forecast – December 9, 2016

David Becker
yesterday

WTI Crude Daily Update for December 8, 2016

WTI crude oil prices rebounded off their lows but still moved down more than 1.25% following a larger than expected build in total petroleum inventories reported on Wednesday by the Department of Energy. Crude oil stocks built more than expected in Cushing Oklahoma where WTI is prices which also weighed on prices.  Resistance is seen … Continue reading WTI Crude Daily Update for December 8, 2016

Christopher Lewis
yesterday

Crude Oil Forecast December 8, 2016, Technical Analysis

WTI Crude Oil The WTI Crude Oil market had a very session on Wednesday, testing the $50 level which of course is a massive support barrier not only based upon psychological support, and of course the uptrend line that’s been in the market for a while. That being said, we did not break down below … Continue reading Crude Oil Forecast December 8, 2016, Technical Analysis

James Hyerczyk
yesterday

Oil Fundamental Forecast – December 8, 2016

Crude oil prices closed lower on Wednesday on concerns that production cuts pledged by OPEC and Russia will not be enough to reduce the supply glut in a timely fashion and as U.S. fuel stockpiles rose. U.S. West Texas Intermediate crude oil futures closed at $49.77, down $1.14 or -2.24%. North Sea Brent crude oil … Continue reading Oil Fundamental Forecast – December 8, 2016

David Becker
2 days ago

WTI Crude Daily Update for December 7, 2016

WTI crude oil prices closed lower on Tuesday but well off the lows of the session after testing the 50.29 level earlier in the session. Traders await Wednesday’s inventory report from the Department of Energy.  Prices softened from a 1-year high as OPEC members over produced ahead of the projected decline in production in the … Continue reading WTI Crude Daily Update for December 7, 2016

Christopher Lewis
2 days ago

Crude Oil Forecast December 7, 2016, Technical Analysis

WTI Crude Oil The WTI Crude Oil market went back and forth during the day on Tuesday, ultimately forming a slightly negative candle. However, the $50 level is an area where we should see quite a bit of support due to not only the large, round, psychologically significant number, but also the uptrend line that … Continue reading Crude Oil Forecast December 7, 2016, Technical Analysis

James Hyerczyk
2 days ago

Oil Fundamental Forecast – December 7, 2016

Crude oil fell on Tuesday as investors took profits on concerns over production cuts. The lower close broke the market’s 4-day winning streak. Rising production in December by OPEC and Russia suggests that the fuel glut will last well into 2017 even with the planned production cuts to begin in January. January West Texas Intermediate … Continue reading Oil Fundamental Forecast – December 7, 2016

David Becker
3 days ago

WTI Crude Daily Update for December 6, 2016

WTI crude oil prices moved higher on Monday but were unable to break through downward sloping trend line resistance.  Support on crude oil prices are seen near the 10-day moving average at 48.66.  Prices continue to be buoyed by OPEC announcement on Thursday that they were cutting production by approximately 1.2 million barrels per day. … Continue reading WTI Crude Daily Update for December 6, 2016

Christopher Lewis
3 days ago

WTI Crude Oil Forecast December 6, 2016, Technical Analysis

WTI Crude Oil The WTI Crude Oil market rallied on Monday yet again as we broke towards the $52 level. This is a market that is trying to break out, and I believe there is a significant amount of support all the way down to the $50 level. A pullback from here could find plenty … Continue reading WTI Crude Oil Forecast December 6, 2016, Technical Analysis

James Hyerczyk
3 days ago

Oil Fundamental Forecast – December 6, 2016

Crude oil prices rallied on Monday after some hesitation as investors expressed optimism over OPEC’s plan to cut output beginning in January. After lingering in a range for most of the early session, prices spiked higher with Brent crude rising above $55 a barrel for the first time in 16 months. Since OPEC agreed to … Continue reading Oil Fundamental Forecast – December 6, 2016

James Hyerczyk
4 days ago

March Crude Oil Monthly Technical Analysis for December 2016

West Texas Intermediate and Brent crude oil futures rallied in November after OPEC agreed to a plan to cut production. The plan calls for the oil cartel to cut its overall production by 1.2 million barrels a day. Traders celebrated the long-awaited deal by driving prices up nearly 10% per barrel. The deal calls for … Continue reading March Crude Oil Monthly Technical Analysis for December 2016

James Hyerczyk
4 days ago

Oil Fundamental Analysis – Forecast for December 2016

Crude oil futures closed higher in November after OPEC agreed to a plan to cut production. The oil cartel agreed to finalize an agreement on November 30 to cut its overall production by 1.2 million barrels a day. The reaction by traders was immediate with prices rallying close to 9% per barrel as investors celebrated … Continue reading Oil Fundamental Analysis – Forecast for December 2016

James Hyerczyk
4 days ago

Oil Fundamental Forecast – December 5, 2016

Crude oil futures surged into the close on Friday to finish at the high for the day. However, both the U.S. West Texas Intermediate and Brent crude oil contracts failed to take out the previous day’s high although buyers had the opportunity to do so. This makes me wonder if there is a big seller … Continue reading Oil Fundamental Forecast – December 5, 2016

James Hyerczyk
6 days ago

Oil Fundamental Analysis – Forecast for the Week of December 5, 2016

Crude oil futures posted their biggest weekly gain since 2009 last week, following OPEC’s decision to reduce crude output in order to decrease the global supply glut and stabilize prices. According to the plan, OPEC will reduce production starting in January by 1.2 million barrels per day, or over 3 percent, to 32.5 million bpd. … Continue reading Oil Fundamental Analysis – Forecast for the Week of December 5, 2016

David Becker
6 days ago

WTI Crude Daily Update for December 5, 2016

WTI crude oil prices continued to move higher on Friday buoyed by the notion that OPEC is planning on reducing output.  In other data, Baker Hughes, the oil service giant revealed that the number of active U.S. rigs drilling for oil climbed by 3 to 477 rigs this week. The total active U.S. rig count, … Continue reading WTI Crude Daily Update for December 5, 2016

Christopher Lewis
6 days ago

Crude Oil forecast for the week of December 5, 2016, Technical Analysis

WTI Crude Oil The WTI Crude Oil market broke higher during the week, clearing not only the shooting star from the previous week, but smashing through the uptrend line. We are now reaching towards the highs of the last couple of months, and of course are seen this in reaction to the OPEC production cut … Continue reading Crude Oil forecast for the week of December 5, 2016, Technical Analysis

Christopher Lewis
6 days ago

Crude Oil Forecast December 5, 2016, Technical Analysis

WTI Crude Oil The WTI Crude Oil market initially fell on Friday, but found enough support at the $50 level to turn around and form a hammer. The hammer of course is a very bullish sign and the fact that we have broken above the top of the uptrend line in the essentially found it … Continue reading Crude Oil Forecast December 5, 2016, Technical Analysis

Anil Panchal
7 days ago

Technical Outlook: Gold, Silver And WTI Crude Oil

GOLD Considering the Gold’s Break-Pullback-Continuation pattern around $1197 – $1200 horizontal-line, the yellow metal is more likely to extend its south-run towards $1128 & $1110 supports. Though, $1163, $1151 & $1144 may offer intermediate halts to bullion prices during its sustained weakness. In case if prices reverse from present levels, $1197 – $1200 continue acting … Continue reading Technical Outlook: Gold, Silver And WTI Crude Oil

Load More