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usa oil

Brent oil may retest support at $68.08

Brent oil may retest support at $68.08

  • 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.
Published 27 May, 2021 12:03pm
US oil may rise to $67.98
Markets

US oil may rise to $67.98

  • The second correction triggered by this zone looks too shallow, casting some shadow on the current rise.
Published 18 May, 2021 11:05am
US oil target of $67.98 aborted
Markets

US oil target of $67.98 aborted

  • 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.
Published 06 May, 2021 12:00pm
Brent oil may fall to $63.84
Markets

Brent oil may fall to $63.84

  • 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.
Published 22 Apr, 2021 12:25pm
US oil may test support at $59.08
Markets

US oil may test support at $59.08

  • 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.
Published 02 Mar, 2021 10:10am
US oil may retest resistance at $62.78
Markets

US oil may retest resistance at $62.78

  • 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.
Published 24 Feb, 2021 10:12am
US oil may retest resistance at $61.02
Markets

US oil may retest resistance at $61.02

  • 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.
Published 16 Feb, 2021 11:24am
US oil may retest support at $52.03
Markets

US oil may retest support at $52.03

  • 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.
Published 29 Jan, 2021 10:45am