Crude oil is one of the most demanded commodities and prices have significantly increased in recent times. The differences between WTI and Brent include not only price but oil type as well, with WTI producing crude oil with a different density and sulfur content.
The demand for crude oil is dependent on global economic conditions as well as market speculation. Crude oil prices are commonly measured in USD. Although there have been discussions of replacing the USD with another trade currency for crude oil, no definitive actions have been taken.
The production will also extend to Nigeria and Libya this time as previously exempt Wait to see if the price will breakout the confirmation zone, If that happens, it indicates the price tends to reach the supply above. The commodity faces further downside pressure as it looks to follow through lower on Tuesday.
On the downside, support resides at the A cut through here will set the stage for a run at the Further down, support resides at the On the upside, resistance resides at the This trade has been become very crowded, and when too many people are long a decline typically follows. A high peculative long positon is not a sell signal Analyse the daily chart and clearly show a retrace to fib.
Strong trend line which has proven to hold many times in the past, I am hoping for a retest. A possible fake breakout, and a buying opportunity back to the highs and beyond. USOIL is meandering in an upward sloping channel. If support channel holds, look higher possibly towards Crude Oil is a naturally occurring liquid fossil fuel resulting from plants and animals buried underground and exposed to extreme heat and pressure.
Light Crude Oil Futures. It is contrarian approach but I will go short. In ABC now it appears toward Near term crude outlook. All Details on chart. Show More Ideas 1 2 3 4 5 From the creators of MultiCharts. Select market data provided by ICE Data services.More...