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Oil Price Forecast: WTI Bulls Eye Key Technical Resistance
Oil prices rallied more than 17.6% off the yearly low with the recovery now approaching key resistance hurdles. A multi-timeframe view of the oil technical charts.
WTI Crude Oil Analysis: Bears Eye Another Assault on $60
Conflicting signals form the COT futures report make the outlook for oil a bit murkier than I'd like. But over the near term, price action suggests WTI crude oil could be facing another attempt at breaking below $60.
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Crude Oil Analysis: WTI Breaks Back Above $70 Amid Potential Tariffs on Russian Oil
After falling to the $65 per barrel zone, WTI has posted a recovery of over 6% over the past two weeks of trading. For now, the bias remains neutral, as the market stays focused on the potential outcomes of U.S. trade tariffs.
Crude oil outlook: WTI at three week highs ahead of stocks data
Oil prices have risen to test 3-week highs, with prices finding support by expectations of tightening supplies in the short term outlook, putting concerns about demand on a back burner.
Crude Oil Forecast: WTI Holds Steady Amid Putin-Trump Meeting
After falling to the $65 per barrel zone, WTI has rebounded by more than 4% over the last five trading sessions.
Crude Oil Forecast: Short Covering and WTI Spread Hint at Bounce
I've watched net-long exposure to crude oil decline alongside prices in recent weeks. But with managed funds culling shorts at their fastest pace in a year and volumes now rising alongside prices, perhaps yesterday's bounce on WTI has more to give.
Oil Update: WTI Crude Hits Three-Month Lows
The price of WTI crude has dropped more than 6% over the past four trading sessions, settling around $67 per barrel, a level not seen since early December 2024.
Crude Oil Rebounds Amid Apparent Short-Covering Rally, but Will Bulls Return?
The cancelation of Chevron's Venezuela license sparked a 2% rally for crude oil. Futures positioning hints at short-covering, leaving the question as to if bulls will return to support a true rally.
Oil Forecast: Bearish Pressure Pushes WTI Toward the $70 Zone
The price of WTI has dropped more than 3% over the last three trading sessions. This significant bearish movement is mainly due to a potential easing of geopolitical tensions, such as the conflict in Ukraine.
Crude oil forecast: Could WTI rebound despite large crude stocks build?
Half an hour after the release of the official weekly oil inventories report, oil prices had not responded significantly, remaining near the session lows.
Gold is just $65 away from its $3k milestone, Crude oil bulls return
Trump's latest round of tariffs sent key commodities higher on Monday, with gold notching up yet another record high and honing in on its $3k milestone. Inflationary concerns ahead of Powell's testimony and US CPI also saw crude oil rebound 1.6% from key support levels.
WTI crude oil is down, but not out
With futures traders continuing to cover longs, further losses cannot be ruled out without a fresh fundamental catalyst. But given crude oil's 11% decline and plethora of support levels above $70, a technically-driven bounce is not a crazy idea.
Crude oil turns lower as Mexican tariffs delayed
Against a backdrop of rising OPEC+ supply and the potential for increased non-OPEC supply growth, mainly in the US, the crude oil forecast remains modestly bearish.
Oil Price Forecast: WTI Spills Towards Yearly Open Support
Oil prices plunged more than 10% off the monthly high with WTI now testing critical support at the 2025 yearly open. A multi-timeframe view of the oil technical charts.