Both WTI and Brent have breached below the ascending wedge bull flags (1H, 4H, Daily charts). Difficult to say if price will return to inside the flag or find resistance on the lower edge of the flags, we shall see. Typically a breach like this ...

WTI Crude Oil Trading

Well there's the pump north. Now let's see if we get the dump south. url Countries have also signed so-called “barter deals” with China, and they are “in an even more difficult position,” Yu said. Some Chinese loans are reportedly denominated in ...

WTI Crude Oil Trading

Saudi money about to hit the trading floor, then Frankfurt, then London

WTI Crude Oil Trading

Thoughts for this week ahead of contract rollover... bullish Mon-Wed, pushing price as high as poss in effort to avert another -ve plunge into rollover. Thur-Fri, consider shorts, subject to TA confirmation. Economies may be coming out of lockdown ...

WTI Crude Oil Trading

Two underlying issues for oil at present, imo…. 1. Contract roll over end of next week, market will either buy ahead of this event or get the jitters about the on-going lack of storage capacity and the potential to revisit May's negative territory. ...

WTI Crude Oil Trading

These were my trades before hitting the hay last night. Nice to wake up to the south traffic morning. The 200 sma (red, WTI 4H chart) is such a hot piece of TA. Booked them this morning (its now evening here)…. didn't like the look of either chart's ...

WTI Crude Oil Trading

Storage capacity is still a major problem, especially for WTI "That inventory overhang means there’ll be a lag in the price rally compared to equity markets, Khoman said. “In the immediate couple of weeks, we still expect significant volatility with ...

WTI Crude Oil Trading

Well this is going to be interesting. Price looks bid at this level (wicks on the 4H charts, both WTI and Brent, and resistance kicking in). Between NFP tomorrow and the June contract rolling over end of next week, will market sell off as the ...

WTI Crude Oil Trading

7 more business days until the June contract rolls over into July... url

WTI Crude Oil Trading

Now then, let's look at the weekly charts for both, and what do we see? Bull hammers on both. And not just hammers, but tweezer hammers.

WTI Crude Oil Trading

Last Friday, this pattern appeared on WTI and Brent - in technical analysis, these are called ascending wedges or bull flags. When price breaks above the horizontal of the triangular flag, it typically continues north. As price approaches the tight ...

WTI Crude Oil Trading