After several weeks of declines, crude oil hit a fresh monthly low of $ 93.07. With this downward move, light crude reached an important long-, medium- and short-term support levels. Although we’ve seen improvement in the recent days, investors are probably wondering whether the final bottom of the recent corrective move is already in or not. What is the current technical picture for the oil market? Will we see further growth in the nearest future? Would this result in higher levels of the oil stock index? We invite you to check our Oil Investment Update. Have a nice read.

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The first days of the new month have been hard for oil bulls. After the breakdown below the lower border of the declining trend channel the buyers didn’t manage to stop oil bears. The bears showed their claws on Thursday and pushed the price below the October low. This event resulted in a heavy decline, which took light crude below $95. On top of that, yesterday we saw further deterioration and crude oil dropped to a new monthly low of $94.06. Taking these facts into account, investors are probably wondering where the final bottom of the current correction is. Will we see it in the nearest future? Is it possible that the light-crude-to-oil-stock-index ratio will give us some interesting clues? What is the current technical picture for the oil market? We invite you to check our Oil Investment Update. Have a nice read.

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Another hard week for oil bulls is behind us. In the previous week we saw significant deterioration. The price of crude oil not only dropped below the psychological barrier of $100, but also reached a new four-month low of $95.95. In spite of this drop, the buyers managed to push light crude higher at the end of the last week. On Monday, we saw further improvement and crude oil closed higher for the third day in row. Can light crude move higher in the nearest future? Is it possible that that the dollar and the oil stock index will give us some interesting clues? What is the current technical picture for the oil market? We invite you to check our Oil Investment Update. Have a nice read.

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Looking at the chart of crude oil from today’s point of view, we can say that last week was hard for the buyers. Although light crude still remains in the narrow range between $100 and $104 per barrel, oil bears managed to push crude oil to its new monthly low of $100.03. In the previous week, light crude lost 0.86% and this is its lowest weekly close since June. Additionally, the breakdown below the 38.2% Fibonacci retracement level was confirmed. Did this event have as negative an impact on light crude as it seems at the first sight? Can oil move lower in the nearest future? Is it possible that that the dollar will give us some interesting clues? What is the current technical picture for the oil market? We invite you to check our Oil Investment Update. Have a nice read.

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Without a doubt, the previous week was quite hard for the market players. When we take a closer look at the chart of crude oil, we clearly see that the price of light crude remains in the narrow range between $100 and $104 per barrel. Since the beggining of the month oil bulls and bears have pushed it above or below the 38.2% Fibonacci retracement level, however, neither the buyers nor the sellers have had enough strength to win and trigger another bigger move. Will we see a breakthrough in the following days? Are there any technical factors that may have an impact on crude oil? Has anything changed in the relation between light crude and gold? We invite you to check our Oil Investment Update. Have a nice read.

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