The WTI crude oil futures contract has broken below the key 76.01 support level, plunging as low as 73.65 in recent trading sessions. This technical breakdown suggests that the broader downtrend from the 87.07 high on April...
The WTI crude oil futures contract has broken out above the resistance of the falling price channel visible on its 4-hour chart. Following the bullish breakout, the commodity is now facing a key test at the 80.04...
The WTI crude oil futures contract remains confined within a falling price channel visible on the 4-hour chart, staying in the broader downtrend that originated from the 87.07 high. Consolidation Within Downtrend As long as the price...
WTI’s price action has taken a bearish turn, breaking a key support level. This analysis examines the technical situation and explores potential scenarios for the oil market. WTI Falls Below Channel: Downturn or Correction? Support and Resistance...
WTI’s price action is at a crossroads, with a key support level in focus. This analysis examines the technical situation and explores potential scenarios for the oil market. WTI at Channel Support: Uptrend or Correction? Downturn Targets...
Hello fellow traders. As our members know , Oil has recently given us good buying opportunity . In this technical article we’re going to look at the Elliott Wave charts of Oil published in members area of the...
By Elliott Wave International There’s a widespread belief that rising oil prices are bearish for the main stock indexes and falling oil prices are bullish for stocks. That belief is reflected in this Sept. 5 CNBC headline:...
WTI has recently extended its upward trend, rising from 63.95 to as high as 79.76 and breaking above the 74.65 resistance level. This could lead to a further rise towards the key resistance level of 83.37 in...
After reaching a high of 126.35 in March 2022, prices have consistently declined, hitting a low of 63.95 on May 4th this year. The completion or continuation of this downward trend hinges on the key resistance level...
By Elliott Wave International The failures of Silicon Valley Bank, Silvergate Bank and Signature Bank have prompted a lot of discussion about the potential of a domino effect. People are wondering “what’s next?” The financial press is...
