• 461 days Will The ECB Continue To Hike Rates?
  • 461 days Forbes: Aramco Remains Largest Company In The Middle East
  • 463 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 863 days Could Crypto Overtake Traditional Investment?
  • 868 days Americans Still Quitting Jobs At Record Pace
  • 870 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 873 days Is The Dollar Too Strong?
  • 873 days Big Tech Disappoints Investors on Earnings Calls
  • 874 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 876 days China Is Quietly Trying To Distance Itself From Russia
  • 876 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 880 days Crypto Investors Won Big In 2021
  • 880 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 881 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 883 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 884 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 887 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 888 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 888 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 890 days Are NFTs About To Take Over Gaming?
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  1. Home
  2. Markets
  3. Other

Crude Oil - Bearish Bias

Crude oil's short-term move is bearish. The upward momentum has faded. Hourly support at 47.75 (01/06/2016 low) has been broken while hourly resistance can be found at 51.67 (09/06/2016 high). Expected to go way lower as support at 47.75 has been broken.

In the long-term, crude oil is now recovering from its sharp decline and the signs of recovery are now strong. Strong support lies at 24.82 (13/11/2002) while strong resistance at 50.96 (09/10/2015 high)has been broken. Crude oil is holding way above its 200-Day Moving Average. Expected to reach 60 before year-end.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment