US oil

US oil may rise into $50.66-$51.34 range

US oil may rise into $50.66-$51.34 range

  • On the daily chart, the big white candlestick forming on Tuesday represents a very bullish sentiment. The rise could be accelerating.
Published 06 Jan, 2021 02:31pm
US oil may test resistance at $49.83
Markets

US oil may test resistance at $49.83

  • On the daily chart, the uptrend looks steady. Wave pattern seems to be clearer. Based on the assumption that the wave 5 would be equal to the wave 1, the trend may extend far above $52.01.
Published 04 Jan, 2021 09:55am
US oil may test resistance at $48.42
Markets

US oil may test resistance at $48.42

  • The resistance is identified as the 7% retracement of the uptrend from $37.06 to $49.28. Support is at $47.50, a break below which could cause a fall to $46.40.
Published 22 Dec, 2020 10:06am