Weekly Oil Report: Re-Heated Geopolitical Tensions Slightly Supported the Market
On Friday, Brent oil closed at $78.81 and WTI settled around $73.89. Watch crude technical analysis and comment your ideas: Crude oil is set to close out with a small gain in the first week of 2024. None of the major supports or resistances got violated yet and there is no significant change in purchasing […]
Weekly Oil Report: A Look At 2023 for Commodities
2023 was not the year of oil. On the last day of the year, Brent oil closed at $77.04 and WTI settled around $71.29. Watch crude technical analysis and comment your ideas: Brent’s highest record was roughly $ 100 and couldn’t even touch 2022’s records. 71 dollars withstand the price while being targeted several times. […]
Weekly Oil Report: War Risks Threatens Global Trade
On Friday, Brent oil closed at $78.87 and WTI settled around $73.39. Watch crude technical analysis and comment your ideas: The weak movement of crude oil continued to the last week of 2023. Although the price increased to 80 it didn’t get to break the quarterly pivot point. Price is also struggling with a Gann […]
Weekly Oil Report: Bullish Sentiment Wears Off
On Friday, Brent oil closed at $76.86 and WTI settled around $71.74. Watch crude technical analysis and comment your ideas: In mid-December, Brent closed higher after 7 consecutive falling weeks. The movement is slow with no sign of trend change. A strong resistance is awaiting the price on 79 while the Christmas Holidays are a […]
Weekly Oil Report: Fears of Recession Erupts in Commodities
On Friday, Brent oil closed at $75.84 and WTI settled around $71.20. Watch crude technical analysis and comment your ideas: Crude oil shocked the market with the 7th consecutive month of falling. While most traders didn’t expect a sharp drop in the first week of December, the fear of recession suddenly took over. The yellow […]
Weekly Oil Report: Complexity Rising at the End of 2024
On Friday, Brent oil closed at $79.10 and WTI settled around $74.34.Watch crude technical analysis and comment your ideas: November closed lower and recorded the second falling month of oil. The purchasing power is weak and it is trapped between a quarterly and a monthly pivot. Usually, the market doesn’t have significant growth in the […]
Weekly Oil Report: Sluggish Movement of Markets
On Friday, Brent oil closed at $80.10 and WTI settled around $75.13. Watch crude technical analysis and comment your ideas: Oil ended up falling for the for the 5th consecutive week. Trading activity slowed down because of the US Thanksgiving holidays, leaving the weekly candle with long shadows and a thin body. The market didn’t […]
Weekly Oil Report: Shocks of Weak Economic Data in Crude and Petroleum Products
On Friday, Brent oil closed at $80.55 and WTI settled around $76.05. Watch crude technical analysis and comment your ideas: Brent, as mentioned in the last episode, pulled back and continued falling. The weak economic data and the decline of US treasury yield suppressed the oil markets on Thursday. More than expected increase in US […]
Weekly Oil Report: Mixed Sentiments Linger in Markets
On Friday, Brent oil closed at $81.61 and WTI settled around $77.31. Watch crude technical analysis and comment your ideas: Bears took over crude oil for the third consecutive week. The market has a mixed sentiment at the moment. Considering the broken resistance, it is possible to see a slight correction after the sharp fall. […]
Weekly Oil Report: Entanglement of Political and Economic Factors
On Friday, Brent oil closed at $85.12 and WTI settled around $80.83. Watch crude technical analysis and comment your ideas: Another fall in the price is bringing more uncertainties for traders but it hasn’t broken the previous lows yet. This is actually making traders more confused. The weekly candle closed lower and it was fairly […]