Crude Oil (CL) Forecast, Page 1

GoldThe gold prices have pulled back in the Friday’s session, reaching down to the $1280 level which is offering a bit of support. The market will continue to be bullish in the long term as the Federal Reserve is likely to go easy on rate hikes. A break above $1300

Based on Friday’s close at $54.04, the direction of the March WTI crude oil market in Monday’s holiday shortened session will be determined by trader reaction to the former main top at $53.61.

Last week’s rally indicates that two events will need to take place to sustain the current rally. Firstly, the U.S and China have to continue to make progress toward a trade agreement, and OPEC must continue to adhere to its strategy to limit output. This is because of the U.S.

Based on Friday’s upside momentum, the direction of the March Brent crude oil futures contract on Monday is likely to be determined by trader reaction to the previous main top at $62.47.

Crude oil markets initially fell during the week but found buyers underneath as we continue to see buyers. In fact, we are starting to press resistance just above, and the recovery looks like it’s well on its way.

The crude oil markets rallied a bit during the trading session on Friday, reaching towards the crucial resistance levels just above. It looks as if the recovery is still very much intact.

Based on the early price action, the direction of the March WTI crude oil futures contract on Friday is likely to be determined by trader reaction to the downtrending Gann angle at $53.04.

With the bullish OPEC news basically offsetting the rise in U.S. production, it looks as if the wildcard remains the potentially bullish U.S.-China trade deals. The market may continue to be underpinned as long as the trade deal talk remains positive.

GoldThe gold prices continued to move back and forth during the Thursday’s trade session, as it is struggling to break above from the important $1290 level, which is holding the gold prices. The 20 Day EMA underneath should offer support and will be a nice trading opportunity. A break above

The crude oil markets continued to consolidate during the trading session on Thursday as we are essentially stuck in the same area that I have been talking about for several days.

USDCAD breached 1.33 handle over weak crude oil price and broad based risk asset sell-off but dollar failed to make solid bull run amid lack of fundamental support.

The markets are appear to be vulnerable to stock market weakness. Crude traders have been locked onto the stock market since Christmas, moving up with the strength in equities. Therefore, we feel that some of the negative fundamentals will take on more importance if a stock market sell-off begins to

GoldThe gold prices were stable during Wednesday’s session, hovering around the $1290 level. The $1300 level is psychologically and massively resistive for the market and a break above will be extremely bullish. The weak sentiment around the USD after the Fed’s announcement of future rate hikes will continue to support

Based on the early price action and the current price at $52.21, the direction of the March WTI crude oil market on Thursday is likely to be determined by trader reaction to the short-term retracement zone at $52.14 to $52.48.

Crude oil markets went back and forth on Wednesday, as we await inventory figures later this week that should give us a little bit more in the way of direction. We did have numbers on Wednesday that suggested that we continue to use crude oil at large numbers in the

Based on the early price action, the direction of the March WTI crude oil market on Wednesday is likely to be determined by trader reaction to the pivot at $52.44.

The outlook for prices is unclear at this time which usually suggests uncertainty and a rangebound trade. The wild card, however, is China. Prices should strengthen if the world’s largest economy announces a fresh stimulus package, or if a new trade deal is announced.

GoldThe gold prices are continuing its move around the $1290 level as it is facing extreme resistance in breaking above the psychologically important $1300 level. If it breaks above the $1300 level, then it can reach towards the $1400 level in the long term, with some selling at every $25 until

Based on the current price at $52.33, the direction into the close is likely to be determined by the pivot at $52.14.

Crude oil markets rallied a bit during the trading session on Tuesday, using the large, round, psychologically important levels, and the support from lower levels to turn things around.