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 […]
Oil Weekly: Crude flatlines amidst convergence of offsetting drivers
Technical Analysis WTI Chart – WTI futures stuck around $62 per barrel area as traders await catalyst 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 developments, […]
Oil Weekly Update: Planned output hikes drag crude futures lower
Technical Analysis of Oil WTI Chart – Negative momentum drives WTI prices closer to fresh 4 year lows As oversupply worries persevered this week, energy bears managed to overpower the bullish momentum capping the commodity’s break above the $63.60 (R1) resistance level and pushed prices closer to the $60.00 per barrel (S1) support area. Given […]
Oil Weekly Update: US-China 90-day truce deal raises optimism for higher consumption
Technical Analysis of Oil WTI Chart – Negative momentum drives WTI prices closer to fresh 4 year lows Earlier this week the bulls managed stay ahead and overpower the strength of the bears, aiding the commodity higher closer to tis former April highs. Given this move we are forced to alter our bias from bearish […]
Oil Weekly Update: Hopes for US-China deal keeps WTI away from 4 year lows
Technical Analysis of Oil WTI Chart – Negative momentum drives WTI prices closer to fresh 4 year lows The commodity has been gyrating between the $60.00 (R1) resistance and $55.15 (S1) support levels over the past week, as the bulls managed to counter the strength of the bears and contain the price from dropping into […]
Oil Weekly Update: WTI traders await for critical OPEC+ meeting details
Technical Analysis of Oil WTI Chart – Negative momentum drives WTI prices closer to fresh 4 year lows After a brief period of consolidation last week, negative momentum strengthened as buying interest dissipated and the bears regained control of the commodity’s price, dragging it closer to the $55.15 support area. We maintain our bias for […]
Oil Weekly Update: Trump eyes China talks, WTI steadies
Technical Analysis of Oil WTI Chart – Crude swings violently amidst tariff uncertainty After a few tumultuous weeks filled with volatility, crude futures managed to consolidate close to the $63 per barrel area after a heavy dosage of technical dip buying activity. We continue to hold a bearish outlook bias for the commodity, merely on […]
Oil Weekly Update: Fears for global trade war weigh down
Technical Analysis of Oil WTI Chart – Crude sinks by over 4.5% the day after Trump’s tariff package announcement Negative momentum surrounding crude oil futures ignited after Trump’s bombastically aggressive tariff plans sparked fears for a global economic slowdown and a severe dent in oil’s demand, pushing traders to short WTI and quickly drag the […]