Crude Oil WTI

Oil prices are reacting strongly to the news of the development of the COVID-19 vaccine. Oil prices gained over $3.50 on Monday to settle close to the 40.00 level. A brief intraday test of this level saw prices being rejected.…
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Oil prices continued to pullback after the gains over the week that saw the 38.83 level of resistance being tested. The declines have put price action to trade within the 38.83 and 36.51 levels in the near term. The support level near…
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Oil prices have made a strong recovery, just days after slipping to a three-month low. Price action continues to move higher, fueled by the dollar weakness. This has pushed oil prices toward the 38.83 handle once again. In order…
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EIA Inventories Decrease Sharply Crude oil prices have traded higher this week, boosted by the latest report from the Energy Information Administration. The EIA report shows that in the week ending October 30th, US crude oil inventories…
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Oil prices are back trading weaker following the gains from earlier this week. After testing the 38.83 level of resistance, the commodity is taking a breather. Prices are down about 0.40% intraday after failing to breakout above the key…
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Greenback Fragile on Election Predictions The dollar index fell by 0.68% on Tuesday as the US went to the polls. Traders are assessing the risks of yesterday’s vote as Joe Biden is favored to win the presidency, but they also understand…
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Oil prices maintain a steady hold as prices are up over 3% intraday. The gains managed to push oil prices back above the 36.51 level. The strong bullish candlestick close on the four-hour chart above this level could keep the momentum…
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Oil prices are up over one percent on Monday as prices recover from last week's declines. Following a brief move below the 34.41 area, oil prices managed to post a strong recovery. After rising above this level, oil prices are pushing…
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WTI crude oil prices slipped slightly lower on Friday before making a modest recovery into the closing session. While price action remains near a four-week low, the rebound is showing signs of a correction to the declines. The…
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Oil prices continue to extend losses, falling over four percent intraday. The declines saw oil prices falling to a four-month low at 34.91. However, we see a modest recovery from these lows. But now, price will need to challenge the…
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