Oil Weekly Update: Traders zero in on Ukraine peace talks
Technical Analysis of Oil WTI Chart – Crude futures remain rangebound above the $58 per barrel area. Crude futures remained confined between the $61.50 (R1) and $58.00 (S1) levels for another week, as neither the bulls nor the bears took hold of the initiative. We maintain our sideways bias for the commodity given the lack […]
Oil Weekly Update: Oversupply fears resurface after IEA’s forecasts
Technical Analysis of Oil WTI Chart – Crude futures remain rangebound near the $59 per barrel area due to absence of volatility Crude futures remained confined, since last week, between the $61.50 (R1) and $58.00 (S1) levels this week and yesterday signs of strength from the bears were observed, possibly foretelling that a move towards […]
Crude Oil (WTI) below $60 per barrel after failed charge to higher ground
Technical Analysis of Oil WTI Chart – In the absence of volatility, crude futures gradually erase the swift gains made in prior 2 weeks After failing to extend their rally above the $61 per barrel area crude due to weak buying activity, futures gradually returned to their former consolidation zone, trading between the $60.50 (R1) […]
WTI (Oil) rebounds from 5-month lows after renewed US sanctions
Technical Analysis of Oil WTI Chart – Crude futures up 9% since the start of the week, seek to break the monthslong dry spell Crude futures swiftly reverse course earlier this week, bottoming out near the $56 per barrel area, gained momentum and are currently attempting to break above the $61.50 (R1) resistance ceiling and […]
Oil Weekly Update: Oil futures drop to 5-month lows
Technical Analysis of Oil US-China trade tensions flare up, pressuring crude oil near the $58 per barrel area. Crude futures found temporary support near the $58.00 (S1) after the bears took the initiative and pressed the commodity definitively below the $61.50, then longstanding support level, as US-China tensions flared up. Given the definitive break below […]
Oil Weekly Update: Gaza peace plan removes catalytic potency for crude
Technical Analysis of Oil I Chart – Crude futures in “equilibrium mode” as momentum thins out Crude futures are currently fluctuating near the $61.50 (S1) support base, a 4-month low, as bearish sentiment got countered by the return of the bulls, which contained the fall below the $60 mark. Given the lack of substantial fundamental […]
Oil Weekly Update: Oversupply concerns permeate energy markets
Technical Analysis of Oil Crude futures move closer to 4 month lows on oversupply pressures Crude futures are currently fluctuating near the $61.50 (S1) support base, approaching a 4-month low as bearish sentiment prevailed in the past week. Given the lack of substantial fundamental catalysts, we maintain our bias for the prolongment of the sideways […]
Oil Weekly Update: Demand Fades, Futures Hold at $64
Technical Analysis of Oil WTI Chart – Bears remain in control yet US-Russia talks could induce shift in dynamic Crude futures are currently gyrating aimlessly around the $64 per barrel level as lack of catalysts keeps energy traders on the sidelines with their hands tied. Given the lack of substantial fundamental catalysts and the fact […]
Crude oil flatlines near the $64 per barrel area as potency of catalysts dry out
Technical Analysis of Oil WTI Chart – Crude temporarily bottoms above the $61 per barrel area possible charge of the $65 area at bay Buying and selling pressures neutralized each other this week and crude futures are currently gyratingaround the $64 per barrel area, striving to keep the distance from the $61.50 (S1) base area […]
Russia could face more sanctions after drone incident in Poland
Technical Analysis of Oil WTI Chart – Crude stays stuck near the $63 per barrel area ahead of OPEC’s monthly report The bears remained in control over the past week despite the flurry of geopolitical incidents and formed a base above the $61.50 (S1) area. At the same time however price action currently remains below […]
Excess supply from OPEC keeps a lid on top of crude prices
Technical Analysis of Oil WTI Chart – Crude retraces its steps to the south after hitting the $66 per barrel ceiling Earlier this week, the bears managed to dismantle the bulls’ charge and keep the commodity below the $66 per barrel level, remaining steadfast, and in control. We maintain our bearish outlook bias for the […]
US doubles down on Indian tariff levies to stop Russian flows
Technical Analysis of Oil WTI Chart – Crude hits 3-month lows as bearish pressure persists Selling pressure persisted over the past week with the bears remaining in control of the move and WTI futures finding somewhat of a support above the $61.30 area, retested the $64.00 resistance ceiling, failed and then eased towards the $64 […]
Oil Weekly Update: Energy markets on hold as US-Russia talks near
Technical Analysis of Oil WTI Chart – Bears remain in control yet US-Russia talks could induce shift in dynamic Albeit the waning bearish pressure, WTI futures failed to find support around the $64.60 area and headed further south to an area last visited at the start of June of 2025, prior to the flare up […]
Oil Weekly Update: WTI temporarily snaps 5-day losing streak
Technical Analysis of Oil WTI Chart – Volatility around crude futures fade away, the commodity conducts balancing act near $65 per barrel area Another week goes by and WTI futures continue to gyrate aimlessly between the $64.50 (S1) and $68.50 (R1) per bounds, despite the 5-day losing streak, as traders scavenge for data to help […]
Trade uncertainty clouds crude oil demand prospects
Technical Analysis of Oil WTI Chart – Crude futures remain rangebound as traders await for more trade deals data WTI futures continue to gyrate aimlessly between the $64.50 (S1) and $68.50 (R1) per bounds as traders scavenge for data to help them assess what may come next. Given the lack of catalysts and therefore volatility, […]
Oil Weekly Update: Market attention shifts back towards OPEC
Technical Analysis of Oil WTI Chart – Crude futures remain directionless around the $66 per barrel area ahead of OPEC meeting WTI futures remain rangebound between the $64.5 (S1) and $68.50 (R1) per barrel, since our last report, area as traders await in anticipation for the commentary of the OPEC meeting inbound on Sunday. Given […]
Oil Weekly Update: Tensions ease post Israel-Iran ceasefire
Technical Analysis of Oil WTI Chart – Negative momentum drives WTI prices closer to fresh 4 year lows WTI futures are now attempting to consolidate and form base around the $65 per barrel area after the sharp correction since the announcement of the ceasefire between Israel and Iran, as traders await patiently for more developments […]
Oil Weekly Update: Energy markets in a state of nervous anticipation
Technical Analysis of Oil WTI Chart – Rallies towards the peak of last Friday’s spike with strong momentum, as Israel-Iran hostilities escalate WTI futures managed to swiftly recover most of the short-lived pullback losses, rebounding strongly towards last Friday’s $77.60 peak as traders project that the prolongment of the conflict between Israel and Iran could […]
Oil Weekly Update: US-Iran hostility boosts WTI to 2-month highs
Technical Analysis of Oil WTI Chart – Negative momentum drives WTI prices closer to fresh 4 year lows Yesterday, WTI futures broke definitively above the $63.60 area that has acted as resistance for the past three months and have quickly risen to the $69 per barrel area, as traders rushed to price in the potential […]
Oil Weekly Update: Lack of catalysts keep crude rangebound
Technical Analysis of Oil WTI Chart – Negative momentum drives WTI prices closer to fresh 4 year lows WTI futures stayed stuck between $60 (S1) and $63.60 (R1) bounds over the past week as neither the bulls nor the bears took control of the direction of the commodity. Given the lack of any market moving […]