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Oil Daily Review April 10, 2019

Oil Daily Review for April 10, 2019 Oil Prices Remain Overbought Even as IMF Cuts Global Growth Forecast Crude pulls back from a fresh 2019-high ($64.79) as the IMF cuts its growth forecast, but the bullish price action may persist as the RSI sits in overbought territory.   Crude Oil Pushes Higher, GBPUSD Whipsaws, EURUSD Unfazed by Bearish Risks – US Market Open Crude Oil Pushes Higher, GBPUSD Whipsaws, EURUSD Unfazed by Bearish Risks – US Market Open   US EIA cuts world oil demand growth forecast 2019 by 50K…

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Oil Daily Review April 9, 2019

Oil Daily Review for April 9, 2019 Oil Weekly Price Outlook: Crude Rips into Resistance, Five-Month High Crude Oil is up more than 33% since the start of the year with the breakout now testing key technical resistance. Here are the levels that matter on the WTI weekly chart.   USD Drops to Support, Gold & Crude Oil Buoyed, EURUSD Recovers- US Market Open USD Drops to Support, Gold & Crude Oil Buoyed, EURUSD Recovers- US Market Open   Weekly Technical Forecast: Dollar, Equities and Crude Oil Advance Together Risk-leaning…

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Oil Daily Review April 8, 2019

Oil Daily Review for April 8, 2019 Weekly Technical Forecast: Dollar, Equities and Crude Oil Advance Together The markets seem to be awash in speculative enthusiasm. Risk-leaning assets like equities and crude oil marked meaningful advances this past week, but the breadth out to carry trade and even the Dollar as a carry currency speaks to the depth of the march. Yet, the threat of stall and   Crude Oil Prices Risk Fresh 2019 Highs as RSI Sits in Overbought Territory Crude oil prices may trade higher over the coming…

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Oil Daily Review April 5, 2019

Oil Daily Review for April 5, 2019 Oil Forecast Clouded by Overbought Signal, Jump in Crude Inventories Current market conditions may keep crude oil prices afloat as the Relative Strength Index (RSI) sits in overbought territory for the first time in 2019.   U.S. oil benchmark ends moderately lower The U.S. oil benchmark fell Thursday, declining for a second session a day after data showed a larger-than-expected rise in crude inventories. West Texas…   WTI Crude Oil and Natural Gas Forecast April 5, 2019 The WTI Crude Oil market had…

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Oil Daily Review April 4, 2019

Oil Daily Review for April 4, 2019 United States EIA Crude Oil Stocks Change came in at 7.238M, above forecasts (-0.425M) in March 29 United States EIA Crude Oil Stocks Change came in at 7.238M, above forecasts (-0.425M) in March 29   Oil ends lower, snaps 3-day winning streak as crude inventories rise Oil futures ended modestly lower, snapping a 3-day winning streak Wednesday after government data showed an unexpectedly large rise in U.S. crude…   Oil dips, then recovers, after unexpected rise in crude inventories Oil futures were little…

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Oil Daily Review April 3, 2019

Oil Daily Review for April 3, 2019 Mixed Messages From Oil And Gas Sector As $1 Billion Lobbying Effort Undermines Climate Fight Oil and gas groups, under pressure from investors, are outlining strategies to tackle climate change, and have bought into renewable energy and electric vehicle infrastructure. But they still fund lobbying aimed at undermining efforts to tackle climate change, a new study from InfluenceMap says.   Crude Oil Price Challenges Channel Resistance The price of US crude oil has hit its highest level since November last year and shows…

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Oil Daily Review April 2, 2019

Oil Daily Review for April 2, 2019 Weekly Technical Forecast: S&P 500 and Oil Show Contrast Between Past Quarter and Next Week We have brought to a close a week, the month of March and the first quarter of 2019. The performance registered between these time frames seems to look more remarkable the higher larger the lookback. While the S&P 500 and crude oil for example may have posted their best quarters   Canadian FM sees ‘rocky economy’ on oil slump Minister of Finance, Bill Morneau, is speaking about the…

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Oil Daily Review April 1, 2019

Oil Daily Review for April 1, 2019 Weekly Technical Forecast: S&P 500 and Oil Show Contrast Between Past Quarter and Next Week We have brought to a close a week, the month of March and the first quarter of 2019. The performance registered between these time frames seems to look more remarkable the higher larger the lookback. While the S&P 500 and crude oil for example may have posted their best quarters   Crude Oil May Be Overextended, But Watch Out For Trade Headlines Crude oil prices remain supported by…

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Oil Daily Review March 29, 2019

Oil Daily Review for March 29, 2019 Crude Oil Prices Plunge After Trump Tweet Bashes OPEC Supply Cuts President Trump took his latest jab at OPEC and the oil cartel’s supply cuts which sent crude plunging nearly 1 percent as the US President stated the importance of OPEC increasing the flow of oil.   UK PM Offers Brexit Resignation, Gold, Oil and UST Yields Slip Lower – US Market Open The UK Parliament failed to pass any of the eight Brexit options in the House last night, leaving Sterling traders…

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Oil Daily Review March 28, 2019

Oil Daily Review for March 28, 2019 Oil Price Outlook: Crude Breakout Battles 60- WTI Trade Levels Oil prices have stalled at four-month highs and leave the immediate rally vulnerable sub-60. Here are the targets & invalidation levels that matter on the WTI charts.   U.S. oil prices decline as EIA reports the first weekly rise in U.S. crude supplies in 3 weeks The Energy Information Administration on Wednesday reported that U.S. crude supplies unexpectedly rose by 2.8 million barrels for the week ended March 22….   WTI Crude Oil…

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