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usa oil

Brent oil may retest support at $68.08

Published 27 May, 2021 12:03pm

On the daily chart, the consolidation from the March 8 high of $71.38 is being shaped into a wedge which looks like a bullish continuation pattern, to be followed by a rally.

U.S. oil may rise to $64.71

Published 20 May, 2021 01:02pm

In terms of duration or depth, the fall looks far from complete. Eventually, oil could drop to $62.13 again.

US oil neutral in $63.88-$65.45 range

Published 19 May, 2021 12:10pm

The long-expected second correction may be developing towards $61.79, as indicated by a triangle.

US oil may rise to $67.98

Published 18 May, 2021 11:05am

The second correction triggered by this zone looks too shallow, casting some shadow on the current rise.

Brent oil may revisit May 14 low of $66.50

Published 17 May, 2021 11:50am

On the daily chart, the rise during the previous trading session was due to a support at $66.29.

Brent oil may retest support at $67.33

Published 12 May, 2021 12:27pm

Wave pattern suggests a downside bias. The resistance at $70.75 triggered a decent correction on March 8. It may cause a shallower one this time.

US oil target of $67.98 aborted

Published 06 May, 2021 12:00pm

Unless oil could quickly reverse the fall on Wednesday and break $66.52, it will be more likely to drop towards $62.62-$63.88 range.

US oil may revisit April 30 low of $63.08

Published 04 May, 2021 12:01pm

A downward wave C is developing towards a range of $58.84-$61.37.

Brent oil may revisit April 20 high of $68.08

Published 28 Apr, 2021 10:42am

On the daily chart, oil has edged up above a resistance at $66.15. It may gain more towards $68.14.

Brent oil may fall to $63.84

Published 22 Apr, 2021 12:25pm

A break above $65.46, now a resistance, could lead to a gain to $66.46. On the daily chart, oil is falling towards a channel line around $62.91.

Brent oil may fall into $58.41-$59.12 range

Published 24 Mar, 2021 11:49am

The deep drop on Tuesday confirms an extension of the downtrend towards the target zone, which is suggested by a falling channel.

Brent oil may stabilize in support zone of $62.71-$63.29

Published 22 Mar, 2021 11:53am

A correction from the March 8 high of $71.38 has completed. It is expected to be further reversed.

Brent oil may rise towards Tuesday high $69.33

Published 11 Mar, 2021 10:54am

On the daily chart, oil stabilized around a support at $66.29, the 100% projection level of a an upward wave C.

US oil may test support at $59.08

Published 02 Mar, 2021 10:10am

Due to a small congestion area forming between Feb. 19 and Feb. 22, oil may fail to break $59.08 in its first attempt. A bounce could occur around this level.

Brent oil still targets $68.07-$68.56 range

Published 26 Feb, 2021 09:55am

A fall to $65.35 could signal the break above $66.29 was false, and a bearish target zone of $59.08-$62.14 will be established then.

US oil may retest resistance at $62.78

Published 24 Feb, 2021 10:12am

Based on the drop from this high to the Feb. 19 low of $58.59, oil is supposed to rise to $65.61. A break above $62.08 could signal the continuation of the uptrend.

Brent oil may extend gains into $66.45-$66.97 range

Published 23 Feb, 2021 11:01am

Based on the drop from $65.52, oil may rise to $69. Support is at $65.15, a break below which could cause a fall to $64.65.

Brent oil may fall into $61.74-62.23 range

Published 17 Feb, 2021 12:40pm

Immediate resistance is at $63.04, a break above which could lead to a gain to $63.54. Only a further rise could signal the continuation of the uptrend.

US oil may retest resistance at $61.02

Published 16 Feb, 2021 11:24am

A break below $59.91 could cause a fall to $59.38. The current wave count will be reviewed, if oil falls to this level. A break above $60.51 could signal the continuation of the uptrend.

US oil may rise into the $57.77-$58.06 range

Published 08 Feb, 2021 10:33am

It could easily overcome the subsequent barriers.

Brent oil may test resistance at $60.12

Published 08 Feb, 2021 10:29am

A rising trendline roughly points at a target of $62.50, the 400% projection level of an uptrend from $39.34.

US oil may rise into $54.60-$55.10 range

Published 02 Feb, 2021 10:08am

The resistance is identified as the 100% projection level of an upward wave C from $51.64.

US oil may retest support at $52.03

Published 29 Jan, 2021 10:45am

The consolidation from $53.93 has lasted so long that it raises some concern on whether the uptrend could remain steady. A break below $51.35 could signal a reversal of the trend.

US oil may test support at $51.35

Published 18 Jan, 2021 11:45am

The next support will be at $51.35.

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