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Crude Oil is at an interesting point now. Check out the daily chart above, you will see I have several Support and Resistance lines which indicate some key levels of activity for Crude Oil (WTI). Similar to when crude oil was at $25, the price is moving sideways for a few days at this key resistance of $35-$33. It is quite c...
Read MoreI woke up this morning to an announcement from CTFC (Commodity Futures Trading Commission) which is the regulator for commidities trading, in which they issues a WARNING to brokers, trading houses et al that Oil prices may go negative again running up to the June Contract expiry on 19th June 2020, which is next Tuesday (today is Thursday 14th May)....
Read MoreWTI and Brent Crude have been moving sideways for almost 7 days now. Literally no action in the oil market. The trading range has become incredibly narrow now, and my judgement tells me we are about to have a break-out, within this week before Friday 15th May!But.. I am quite perplexed as to which way the breakout will be. Both the WTI and Brent Oi...
Read MoreCrude oil rallied from $10 to $25 - for no apparent reason. Now its been consolidating around $25 for almost 7 days, a break out is around the corner, which way will it move?Click the video above to see my take on this.
Read MoreCrude oils recent rally is peaking as the June contract expiry nears. A possible head and shoulders or triangular chart pattern is forming. Or it could be a triangular pattern if the Oil price is dragged down to around $6 on 20th June and we see a repeat of the oil price crash. Check the video above to learn more about my speculation on this.
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