Oil prices continue to sink to new depths
Light Crude Oil trades above $75.60 at time of writing as producers weigh profits, may choose to limit output to look at profitable operations as consumers remain optimistic about the economy and increase spendings.
Dovish view on the price of oil is echoed by the slowdown in inflation and manufacturing production globally, with lower demand and high supply not boding well for the price of the black gold.
Light Crude Oil prices rebounds away from Fibonacci Expansion 127.2% at 48.43 and breaks above 50.00
Light Crude Oil prices continue to extend its gains after prices broke above 53 yesterday and we expect to see a reversal at 54.00
Crude Oil climb past resistance at 61.80. Crude Oil price rose to the highest level in a week on Wednesday, on the back of weaker U.S. Crude inventories data...
Inventories are higher than forecast and oil prices continue to slide.
Attaining a low of $62.80 at the time of writing, the technical and fundamental aspects of light crude oil prices sees no change and lower highs and lower lows sees sub-$60 levels imminent.
Light Crude Oil prices consolidates due to uncertainty after OPEC Secretary-General Abdalla El-Badri comments on oil prices
Light Crude Oil prices closed just below 45 last week with a continuation of the bearish trend in sight.
Crude Oil extend above YTD high at 59.30.
Light Crude Oil prices continue to fall with candles now touching Fibonacci Expansion 161.8% at 52.73
Light Crude Oil futures continues to be slightly bearish
Stockpiles rose as rate of production is maintained, as a stronger dollar makes oil cheaper.
Bearish momentum for CLG5 remains strong with longer bearish candles
Light Crude Oil prices plunged below 50 yesterday breaking below uptrend line
Light Crude Oil prices draw near Fibonacci Retracement 61.8% at 47.24
Crude Oil surges higher, climbing above 60.00.
Crude Oil slumps in subdued trade, generating a lower high and lower low play on Monday. Forming its support below the critical 44.40 level on daily chart...
Price of Oil and derivatives continue to move south as surplus supplies increase, weak demand due to fall in manufacturing likely to continue.