Markets

Crude Oil (CLN2) Forecast

53.185
09:58:48(GMT)
0.9350
(1.79%)*Daily Change
Christopher Lewis
2 hours ago

Crude Oil forecast for the week of January 23, 2017, Technical Analysis

WTI Crude Oil The WTI Crude Oil market fell initially during the week but found enough support just above the $50 level to form a hammer. The hammer of course is a bullish sign, but we also should worry about the $55 level above. That’s an area that should cause quite a bit of resistance, … Continue reading Crude Oil forecast for the week of January 23, 2017, Technical Analysis

Christopher Lewis
3 hours ago

Crude Oil Forecast January 23, 2017, Technical Analysis

WTI Crude Oil The WTI Crude Oil market gapped higher at the open on Monday, as we continue to see quite a bit of volatility in this market. I still believe that there is a massive amount of resistance above, extending all the way to at least the $55 level. I also recognize that the … Continue reading Crude Oil Forecast January 23, 2017, Technical Analysis

David Becker
11 hours ago

WTI Crude Daily Update for January 23, 2017

Crude oil moved higher on Friday, gaining slightly more than 2% and poised to test short term resistance near the 20-day moving average at 53.62.  A close above this will lead to a test of the 55.22 zone.  Support is seen near the January lows at 52.19.  A larger than expected rise in the oil … Continue reading WTI Crude Daily Update for January 23, 2017

James Hyerczyk
18 hours ago

Crude Oil Update – Prices Firm Ahead of OPEC Compliance Meeting

Short-covering ahead of this weekend’s meeting of the world’s top oil producers in Vienna is helping to drive March crude oil prices higher early Friday. The purpose of the meeting is to assess compliance with the OPEC/non-OPEC plan to cut production. The rally is expected to be limited, however, as investors continue to react to … Continue reading Crude Oil Update – Prices Firm Ahead of OPEC Compliance Meeting

Christopher Lewis
yesterday

Crude Oil Forecast January 20, 2017, Technical Analysis

WTI Crude Oil The WTI Crude Oil market initially tried to rally on Thursday but fell a little bit flat. We essentially didn’t do much, and the inventory announcement of the United States showed that we are continuing to build more inventory than originally expected. While it did not cause a major selloff, this is … Continue reading Crude Oil Forecast January 20, 2017, Technical Analysis

James Hyerczyk
yesterday

Oil Fundamental Forecast – January 20, 2017

U.S. West Texas Intermediate (WTI) and International Brent crude oil futures posted an inside day on Thursday and a lower close as investors reacted to both bullish and bearish news with the latter apparently influencing investors more. March WTI crude oil closed at $52.12, down $0.06 or -0.11% and March Brent crude oil finished the … Continue reading Oil Fundamental Forecast – January 20, 2017

David Becker
yesterday

WTI Crude Daily Update for January 20, 2017

Crude oil prices moved higher but barely held on to gains following a larger than expected build in crude oil inventories reported on Thursday by the Department of Energy.  Prices surged higher initially, but generated an inside day with a lower high and a higher low.  Support is seen near the 50-day moving average at … Continue reading WTI Crude Daily Update for January 20, 2017

James Hyerczyk
2 days ago

Crude Oil Update – In Holding Pattern Ahead of EIA Inventories Report

March WTI Crude Oil futures are trading higher and inside yesterday’s range. The chart pattern suggests investor indecision and impending volatility. The news is still mixed with bullish traders reacting to reports of compliance with OPEC’s plan to curtail production. Bearish traders believe the OPEC deal is weak and that increased U.S. production will offset … Continue reading Crude Oil Update – In Holding Pattern Ahead of EIA Inventories Report

Christopher Lewis
2 days ago

Crude Oil Forecast January 19, 2017, Technical Analysis

WTI Crude Oil The WTI Crude Oil markets fell significantly during the day on Wednesday, as we roll into the Thursday and face the Crude Oil Inventories number. I believe that there is a significant amount of support at the $50.50 level, and as a result I think that it will cause a bit of … Continue reading Crude Oil Forecast January 19, 2017, Technical Analysis

James Hyerczyk
2 days ago

Oil Fundamental Forecast – January 19, 2017

Crude oil futures closed lower on Wednesday as investors responded to a rebound in the U.S. Dollar and concerns over increased production in the U.S. rather than OPEC’s forecast for increased demand. U.S. March West Texas Intermediate crude oil futures closed at $52.18, down $1.08 or -2.03%.  International Brent crude oil finished at $54.27, down … Continue reading Oil Fundamental Forecast – January 19, 2017

David Becker
2 days ago

WTI Crude Oil Daily Update for January 19, 2017

WTI Crude oil prices dropped on Wednesday declining nearly 2.5%, as traders focused on the Energy Information Administration’s projection on higher U.S. production. Prices declined to support near the 50-day moving average at 50.66.  Additional support is seen near the January lows at 50.72.  Resistance is seen near the January highs at 55.24. Momentum has … Continue reading WTI Crude Oil Daily Update for January 19, 2017

James Hyerczyk
3 days ago

Crude Oil Update – Increased U.S. Production Weighing on Prices

March West Texas Intermediate crude oil futures are under pressure early Wednesday as traders continue to express doubts about the impact of the OPEC/non-OPEC deal to slash production on the global supply glut and instead are choosing to focus on increased U.S. production. There is no Weekly Energy Information Administration inventories report today so traders … Continue reading Crude Oil Update – Increased U.S. Production Weighing on Prices

Christopher Lewis
3 days ago

Crude Oil Forecast January 18, 2017, Technical Analysis

WTI Crude Oil The WTI Crude Oil market initially tried to rally during the day on Tuesday but found the area near $53.50 to be far too exhaustive. Because of this, we did a forming a shooting star and I feel that the market will continue to find sellers every time we tried to rally. … Continue reading Crude Oil Forecast January 18, 2017, Technical Analysis

James Hyerczyk
3 days ago

Oil Fundamental Forecast – January 18, 2017

Crude oil prices were up most of the day on Tuesday in reaction to a sharply lower U.S. and reports that Saudi Arabia was more than complying with their end of OPEC’s deal to cut production, trim the excess supply and stabilize prices. However, prices fell late in the session and into the close on … Continue reading Oil Fundamental Forecast – January 18, 2017

David Becker
3 days ago

WTI Crude Daily Update for January 18, 2017

WTI crude oil prices moved higher on Tuesday as a weaker dollar paved the way for higher prices. Prices briefly recaptured the 53 handle, but were unable to hold on to gains throughout the trading session.  Prices tumbled just before the close through support which is now seen as resistance near the 10-day moving average … Continue reading WTI Crude Daily Update for January 18, 2017

James Hyerczyk
4 days ago

Crude Oil Update – Prices Supported by Weaker Dollar and Saudi Comments

March West Texas Intermediate Crude Oil futures are trading higher on Tuesday in response to a plunge by the U.S. Dollar and optimistic comments from Saudi Arabia. The dollar fell against most major currencies after U.S. President-elect Donald Trump said that the strong Greenback was hurting U.S. competitiveness in foreign markets especially China. Prices were … Continue reading Crude Oil Update – Prices Supported by Weaker Dollar and Saudi Comments

James Hyerczyk
4 days ago

Oil Fundamental Forecast – January 17, 2017

Crude oil futures inched higher on Monday on light volume and volatility due to a U.S. bank holiday. The charts indicate the market is essentially rangebound with supporting coming from optimism connected to compliance with the OPEC/non-OPEC plan to cut production and resistance tied to worries over increased U.S. production. U.S. March West Texas Intermediate … Continue reading Oil Fundamental Forecast – January 17, 2017

Christopher Lewis
4 days ago

Crude Oil Forecast January 17, 2017, Technical Analysis

WTI Crude Oil The WTI Crude Oil market fell on Monday, but you should keep in mind that the Martin Luther King Junior holiday in the United States would’ve taken quite a bit of volume out of the market. Because of this, you can’t read too much into the candle but when I do see … Continue reading Crude Oil Forecast January 17, 2017, Technical Analysis

David Becker
5 days ago

WTI Crude Daily Update for January 17, 2017

Crude oil prices edged lower on Monday in meager volume due to the Martin Luther King day holiday in the United States. Prices remain off last week’s $53.15 peak and comfortably above last week’s low at $50.71. Saudi Arabia’s oil minister said that the agreed supply cut of major crude producers may not have to … Continue reading WTI Crude Daily Update for January 17, 2017

James Hyerczyk
5 days ago

Crude Oil Update – U.S. Bank Holiday Hurting Price Action

March West Texas Intermediate Crude Oil is trading slightly higher on low volume shortly ahead of the regular session opening. Today is a bank holiday so volume and volatility may be below average. However, you have to be prepared for the occasional volatility spike. Besides Wednesday’s weekly U.S. Energy Information Administration report, traders are also … Continue reading Crude Oil Update – U.S. Bank Holiday Hurting Price Action

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