Oil Technical Analysis. Our expertly qualified technical analysts give their views on Oil.
One of the most abused terms in Technical Analysis is the concept of overbought and oversold. Whilst it’s true that all markets can do this, the common popular tools used to measure such things are […]
The sales pressure continued last week and we saw an unexpected weekly closing below its 200 week SMA at 52.2. The main reason behind the downward trend in prices is supply and demand imbalance. Even though […]
The below chart demonstrates the significance of equal distance trading. Upon penetration of the upward channel the calculated distance of $10 has been met to the cent. This indicates that an exhaustion of the current […]
WTI futures was trading at 54.39 levels in later afternoon Wednesday. Monthly chart shows that WTI futures have been trading in a wide but narrowing range since its historical high in 2008. The wider […]
The technical picture also continues from my earlier report. WTI had pared some of its losses and formed a potential bearish flag pattern, retracing to the 38.2% fib level of the 2016 to 2018 rally. […]