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Crude oil bears were 'caught short' at the lows, bulls now eyeing $80

Market positioning shows an influx of shorts hitting crude oil, in what now looks like a cycle low. And whilst bulls are eying a break of $80, they could benefit from a pullback first.

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Yesterday 01:32 PM
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Crude oil forecast: WTI hits trend resistance ahead of key macro events

It is possible we could see crude oil prices come under pressure again after the recent recovery. After all, there are several factors that are likely to limit the upside potential from here, including increased non-OPEC supply, which is undermining the OPEC+ efforts to stabilise the markets.

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Crude Oil, Natural Gas Analysis: Positive Breakouts, Are They Sustainable?

Crude Oil, Natural Gas Analysis: Crude Oil is tracing its largest gain since March, while Nat Gas is breaking through 6-month highs.

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Crude oil surge lacks conviction, seeking reversal signal to initiate shorts

Crude oil surges 8% in four sessions. But volumes were nowhere near as bullish as the price action would suggest. Given its struggles above these levels, waiting for a topping pattern to go short is favoured.

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June 11, 2024 09:40 AM

Crude oil forecast: WTI stages sharp recovery

While there is hope for increased fuel demand as we head deeper into the US driving season, today’s recovery comes on the back of a three-week drop amid concerns over demand in China and rising non-OPEC supply. So, it remains to be seen whether the recovery can hold. The crude oil forecast will be under spotlight when the Fed make a decision on interest rates later this week.

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June 11, 2024 03:00 AM

Crude Oil Forecast: Week Ahead – June 10, 2024

The crude oil selling resumed on Friday after a two-day respite, although the losses were not as severe as those observed earlier in the week and far less forceful than the drop in metals. This is because a strong jobs report and services PMI data both helped to reduce fears over weakening demand in the US...


Crude Oil and Gold Outlook: Pre NFP Trends

Crude Oil and Gold Outlook: Contrarian investors seek opportunities

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Crude oil reverses hard on improved demand outlook, delivering bullish technical signal

With a solid US ISM services PMI print and rate cut from the Bank of Canada (BoC) helping to fuel the soft-landing narrative, the rout in WTI crude oil reversed on Wednesday, delivering a bullish technical pattern that points to the potential of further gains ahead.

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June 6, 2024 08:43 AM
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Crude oil forecast: WTI holds key support after sharp sell-off

Today’s release of a much stronger-than-expected ISM services PMI report has also helped to reduce economic slowdown fears, and this is helping oil prices. Traders have largely shrugged off the unexpected build in US crude oil stocks. In light of today’s recovery, the short-term crude oil forecast has turned moderately bullish.


Crude oil, copper: Bullish China data offers relief for battered commodities

China’s services sector strengthened in May, boosting Chinese equity markets and providing some respite for commodities such as copper and WTI crude oil.


Crude Oil and Silver Analysis: Commodities Approach Critical Levels

Crude Oil and Silver Analysis: Oil is on track towards yearly lows while silver dives back into the 29 territory

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Demand to drive WTI crude moves with supply-side now accounted for

Last week’s candle on the WTI crude chart provided an obvious signal on directional risks that came to the fore on Monday, combining with weak economic data out of the United States and belated surprise that OPEC+ will boost production levels later this year to send the price hurtling to lows not seen since February.

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June 4, 2024 04:35 PM

Crude oil analysis: WTI plunges on demand fears as OPEC+ fails to lift prices

Crude oil analysis: ISM manufacturing PMI miss highlights demand worries after OPEC + failed to underpin prices with their latest decision to extend output cuts. WTI technical analysis is clearly bearish but watch out for oversold bounce as prices approach technical support levels.

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June 4, 2024 02:29 AM

Crude Oil and Silver Analysis: Key Levels to Watch

After hovering on key support levels, Oil drops and Silver rebounds


WTI crude softens post OPEC+, back in the sweet spot for bulls

An extension of deep and prolonged production cuts from OPEC has failed to ignite a rally in crude oil futures with prices sinking for a fourth consecutive session. However, with WTI returning to what’s been a reliable zone for bulls in the first five months of the year, these levels may prove tempting for those looking for a bounce given favorable risk-reward.

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June 3, 2024 10:31 AM
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Crude Oil Price Under Pressure Going into June OPEC+ Meeting

Developments coming out of OPEC may curb the recent weakness in crude should the group continue to restrict production.

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By : David Song
June 3, 2024 12:00 AM
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Crude Oil Outlook: Demand Potential vs OPEC Supply Policies

Crude Oil Outlook: Oil charts are set to gear up this week with a confluence of factors including economic growth metrics, geo-political tensions, inventories, and OPEC policies.

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Crude oil, copper bounce as commodity rally resumes before US inflation report

The rout in commodity prices didn’t last long, as expected, with dip buyers emerging late last week to take advantage of better entry levels. Crude and copper look particularly constructive following the recent bounce.

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May 28, 2024 09:38 AM
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Crude Oil, Nat Gas Analysis: Oil Inventories Increase and NGAS Next in Sight

Crude Oil, Nat Gas Analysis: Q1 2024 has seen a positive shift in energy trends, driven by an accelerating Chinese economy and changing inventory levels. Is there an opposite outlook for Q2?

Oil rig in the sea

WTI crude slides to range lows, nears sweet spot for longer-term bulls

The pullback has seen WTI move into what’s a been a very decent buying zone in recent years, providing an opportunity to establish longs at lower levels.

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May 23, 2024 03:42 PM
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Crude Oil Analysis: Rates and Inventories

Crude Oil Analysis: Crude oil has rebounded from its largest yearly correction twice, driven by negative U.S inventory results for the past two weeks. Will there be a third rebound on Wednesday?


Crude oil weekly forecast: WTI range under threat as bullish momentum builds

Monday could set the tone given the bullish price action seen across the commodities complex on Friday as China announced a rescue package for its troubled property sector. If the momentum can be maintained, there’s every chance WTI may break downtrend resistance dating back to the highs set in April.

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May 20, 2024 12:00 AM

Crude Oil Analysis: Stuck Between US Inflation, OPEC Policies, and Chinese Demand Potential

Crude Oil Analysis: supply and demand metrics lie at a critical juncture with OPEC meeting expectations leaning towards an unchanged policy