• 2 hours State-Sponsored Cyberattacks Are On The Rise
  • 5 hours Lobbying Is Big Business During Election Season
  • 8 hours MIT: The Energy System Of The Future Is Closer Than We Think
  • 10 hours Bitcoin Continues To Push Towards $4000
  • 1 day Is The Gold Rally Sustainable?
  • 1 day Facebook Labeled ‘Digital Gangsters’ By UK Politicians
  • 1 day U.S. Political Discourse Could Boost Safe Haven Demand For Gold
  • 1 day Fans Panic After Tesla Removes Its “Secret Weapon” From Website
  • 2 days Amazon Paid Zero Corporate Tax For Second Year In A Row
  • 2 days Trade Talks Dominate Market Sentiment
  • 2 days What's Behind New York's Struggling Housing Market?
  • 2 days Scientists Take Rare Look Inside 'Wire Gold' Specimen
  • 3 days Abysmal Retail Sales Have Wall Street Scratching Head
  • 3 days China To Build Solar Space Station
  • 4 days Why Is Russia Turning Off Its Internet?
  • 4 days Gold-Stock Mega-Mergers Are Bad News For Shareholders
  • 5 days 166-Year-Old Fashion Icon Plans IPO
  • 5 days Copper Prices Stabilize After 5-Day Decline
  • 6 days Amazon Bails On NYC
  • 6 days Central Bank Gold Binge Sparks Buying Signal
Saudi Arabia Plays Both Sides Of Russia-U.S. Spat

Saudi Arabia Plays Both Sides Of Russia-U.S. Spat

Saudi Arabia’s ongoing-and-growing relationships with…

The Chatroom Cartel Running Global Bond Markets

The Chatroom Cartel Running Global Bond Markets

Eight major banks have been…

  1. Home
  2. Markets
  3. Other

Crude Oil - Bearish Pressure Remains

Crude continues to move lower towards support at 29.39 (26/01/2016).The technical structure remains clearly negative in a context of oil oversupply. The short-term retracement is now ending. Hourly support is given at 26.19 (20/01/2016 low). Expected to see further decline.

In the long-term, crude oil is on a sharp decline and is of course no showing any signs of recovery. Strong support at 24.82 (13/11/2002) is now on target. Crude oil is holding way below its 200-Day Moving Average (setting up at around 47). There are currently no signs that a reverse trend may happen.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment