Crude Oil (CL) Forecast, Page 1

U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading lower for a 12th consecutive session shortly before the regular session opening in New York. Yesterday, prices were higher for most of the session on the back of the news that Saudi Arabia was planning to cut exports

EURUSD broke the horizontal support on the 1.13 and went lower. From the technical point of view, the main trigger here is the breakout of the lower line of the flag pattern (green). Currently, the price is bouncing from the long-term neckline of the giant H&S formation. That can be

WTI Crude OilThe WTI Crude Oil market rallied a bit during the trading session on Monday, breaking above the top of a hammer from the Friday session that had formed at the $60 level. We had been oversold, so it’s not a huge surprise that we get a bit of

U.S. West Texas Intermediate crude oil futures are getting a boost on Monday from a report that Saudi Arabia is planning to cut exports by 500,000 barrels per day in December. Additionally, there are reports that OPEC and non-OPEC producers are in early discussions to cut as much as 1

U.S. West Texas Intermediate and international-benchmark Brent crude oil futures traded over 1 percent higher earlier in the session, but has since given back close to half of its gains as we approach the regular session opening. The catalyst behind, the largest one-day advance in nearly a month is the

Canadian Dollar hit an 8-week low on Friday following an upbeat US Fed rate decision update which saw interest rate remains unchanged while providing a positive forward guidance. The true fact is that Canadian dollar can be viewed as one of the instruments with potential for high level of growth

U.S. West Texas Intermediate crude oil futures closed sharply lower last week as hedge funds and money managers continued to add to short positions on concerns over increasing supply and fear of lower demand. The week ended with crude oil in bear market territory after dropping 20 percent from its

U.S. West Texas Intermediate and international-benchmark Brent crude oil futures settled lower last week, while continuing to amaze veteran traders. Not only did the market wipe out all of this year’s gains, but it also declined for the fifth straight week, finishing off the week with a 10th consecutive losing

WTI Crude OilThe WTI Crude Oil market initially tried to rally during the trading session this week, but by the time we got halfway through the week, we broke down towards the $60 handle. That’s an area that will attract a lot of attention obviously, and we did see buyers

WTI Crude OilThe WTI Crude Oil market broke down below the $60 level, but then turned around to bounce. The hammer that looks like it’s trying to form at this point suggests that we could get some buying here, but at this point I think it’s likely that we will

U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading lower on Friday, pressured by rising supply and worries about lower demand. The markets are trading 20 percent off their October highs, putting them in bear market territory according to technical analysts. WTI is in a position to

GoldThe gold prices drifted a bit lower during yesterday’s session reaching down to the $1220 level. The commodity market is witnessing a lot of volatility, majorly due to the outcome of US midterm elections and higher possibility of Fed increasing rates. The $1200 level underneath, is a strong support point

WTI Crude OilThe WTI Crude Oil market continues to fall overall, and now I think we may even test the $60 level underneath which of course is psychologically important as well as structurally. I think we are oversold at this point, and it’s probably only a matter time before oil

U.S. West Texas Intermediate crude oil prices are trading slightly higher early Thursday. The market is trading inside yesterday’s range after failing to follow-through to the downside following Wednesday’s steep sell-off. Supply concerns are weighing on prices after the U.S. Energy Information Administration (EIA) reported a larger-than-expected inventory build and

GoldThe gold prices were choppy through the Wednesday’s session, as it was struggling to find the direction. The next few sessions in the market will remain choppy, due to reaction to the US midterm election outcome. The $1250 level above is offering string resistance and if it breaks higher, then

U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are inching higher early Thursday as the market tries to recover from yesterday’s plunge that was fueled by a bearish government inventories report. Additionally, rising supply has raised the issue of fresh production cuts from OPEC to curb the oversupply

WTI Crude OilThe WTI Crude Oil market has broken down a bit during the trading session on Wednesday again, as we are decidedly below the crucial $62.50 level. I think at this point it’s obvious that crude oil is going to continue to struggle, but the question is how much

U.S. West Texas Intermediate crude oil is recovering after early session weakness, helped by a report that Saudi Arabia and Russia are discussing oil output cuts in 2019. This makes sense since the market is currently oversupplied. This would also take care of a problem that began when the Saudis

U.S. West Texas Intermediate and international-benchmark Brent crude oil are trading nearly flat on Wednesday after both markets posted steep declines the previous session. Excessive crude oil in the physical market continues to be the main driver of the selling pressure although worries over demand are beginning to be an

WTI Crude OilThe WTI Crude Oil markets gapped lower to kick off the session on Tuesday, turned around to rally, and then fell hard to break down below the $62.50 level. At this point, I don’t have any interest until we break above the $64 level as far as buying