• 3 hours Peru's Mining Industry Pummeled As Coronavirus Cases Surge
  • 5 hours Why The World Is So Divided In Its COVID-19 Response
  • 22 hours Equities Cheer Stellar Jobs Report, But It May Be Fleeting
  • 2 days Is Tech Billionaire Peter Thiel Done With Trump?
  • 2 days Musk Takes To Twitter To Troll The SEC
  • 3 days Lunar Mining May Commence As Early As 2025
  • 4 days Immigration Will Go Bust Without $1.2B Bailout
  • 4 days The Economics Of The Space Race
  • 5 days Why The World's Central Banks Aren't Yet Sold On Renewables
  • 6 days How Much More Cash Can Uber Burn?
  • 6 days Inside The Biggest Counterfeit Gold Scandal In Recent History
  • 6 days EU-U.S. Trade Relations Are Deteriorating
  • 7 days Over 184 Companies Have Bailed On Facebook
  • 7 days BP Sells Petrochemical Business For $5 Billion
  • 7 days U.S. Moves To Secure Domestic Rare Earth Supply
  • 8 days E-Commerce Explodes As Boomers Go Digital
  • 8 days Major U.S. Cities Are Turning To Renewables
  • 9 days Economic Reopening Backfires, COVID Surge Snaps Recovery
  • 9 days How Are Low Car Sales Impacting The Metals Market?
  • 10 days Are Gold Stocks Still Undervalued?
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

Contact Author

  1. Home
  2. Markets
  3. Other

Crude Oil - Collapsing

Crude oil has unexpectedly exited the uptrend channel. The commodity has been unable to mount a serious challenge to 55.24 (03/01/2017 high) resistance. The correction towards support given at 49.61 (08/12/2016) is finally happening. Expected to see deeper buying pressures.

In the long-term, crude oil has recovered after its sharp decline last year. However, we consider that further weakness are very likely. Strong support lies at 24.82 (13/11/2002) while resistance can now be found at 55.24 (03/01/2017 high).

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment