Weekly Oil Report: Bullish Sentiment in Favour of Crude and Commodities
After 4 weeks, oil finally broke the rangebound. Brent closed the week at $85.26 and WTI settled around $80.97. Watch crude technical analysis and comment your ideas: On Wednesday, bullish sentiment broke out in oil markets due to an increasingly stronger demand outlook. Brent has climbed above 85 USD for the first time since November […]
Weekly Oil Report: Positive Trade Data Stimulating Energy Demand
Oil prices stick to the rangebound. Brent closed the week at $81.82 and WTI settled around $77.78. Watch crude technical analysis and comment your ideas: Weekly candles recorded about 1% of loss despite positive economic reports. Obviously, the price is moving rangebound between two boxes in red and blue. Since February, oil has stayed in […]
Weekly Oil Report: March Bears Two Important Events
On Friday, Brent closed the week at $83.33 and WTI settled around $79.75. Watch crude technical analysis and comment your ideas: Oil prices climbed above 80 but it didn’t last long to break the rangebound. The sentiment is more bullish but it hasn’t overcome the uncertainty yet. The weak economic data from China and Europe […]
Weekly Oil Report: Little Volatilities of Crude Prices
On Friday, Brent closed the week at $81.66 and WTI settled around $76.54. Watch crude technical analysis and comment your ideas: Oil prices stayed rangebound with minor movements. Market was unable to break the resistance and it fell down slightly. Nothing has changed much compared to last week. The sentiment is bearish now but the […]
Weekly Oil Report: Shadow of Uncertainty and Mixed Sentiment
On Friday, Brent closed at $83.22 and WTI settled around $78.16. Watch crude technical analysis and comment your ideas: Brent is still trying to surpass the big red candle recorded at the end of January. The movement is not strong but the purchasing power shows no divergence yet. Price is approaching the last high and […]
Weekly Oil Report: Market Sentiment Keeps Changing
On Friday, Brent closed at $81.91 and WTI settled around $76.54. Watch crude technical analysis and comment your ideas: The weekly chart of Brent shows a fine portion of growth but it’s still beyond last week’s engulfing candle. If you check the daily chart, the trend has been upward since December 12 and it hasn’t […]
Weekly Oil Report: Possibility of Lower Tensions Awakened Bears
On Friday, Brent closed at $77.39 and WTI settled around $72.31. Watch crude technical analysis and comment your ideas: Once again, uncertainty dumped the bullish sentiment. Right after seeing the highest prices of the last two months, oil suddenly got deep in fundamental confusion. Brent’s weekly engulfing candle shows the strong bearishness for the week. […]
Weekly Oil Report: Escalating Tensions Turned Sentiment Bullish
Crude oil surged to its highest level since December with Brent closed at $83.10 and WTI around $78.12. Weak movements of Brent finally ended with about 6% growth in the last week of January. On Friday, it broke through the quarterly pivot point while moving inside a thick Ichi cloud. The upfront resistances are shown […]
Weekly Oil Report: Geopolitical Tensions Keep Markets on Edge
On Friday, Brent oil closed at $78.65 and WTI settled around $73.39. Watch crude technical analysis and comment your ideas: For the 5th consecutive week, Brent struggled with 82 USD per barrel. The strong quarterly pivot point wouldn’t be broken with the current purchasing power unless it has a sudden change in market powers. While […]
Weekly Oil Report: New Tensions of the Middle East Affecting Crude
On Friday, Brent oil closed at $78.35 and WTI settled around $72.74. Watch crude technical analysis and comment your ideas: Brent failed to pass 82 once again. The sudden rise of the price couldn’t overcome the MA 50 while leaving a long shadow. The sentiment turned extremely bearish at the end of the week despite […]