Oil price went on to decline yesterday, building on Friday’s move lower. However, a not insignificant part of yesterday’s downswing had been erased before the day was over and today, we’re seeing the oil bulls in action again. The current division over extending Iranian oil waivers seems to have a hand in driving prices higher. How will the bulls fare against the powerful combination of technical factors facing them?

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Friday was quite a day in the oil trading pit. A powerful combination of factors brought the price down significantly. Earlier today, the decline continues. How does the technical picture look currently and what can we infer about the likelihood of the next move? We invite you to examine our thoroughly analyzed outlook.

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Crude oil bulls took a pause yesterday. Are they just resting before another move higher? Let’s consider all the technical factors before answering. How much has actually changed since yesterday? How does today’s downswing fit into the picture? So many questions. Let’s jump right in to the answers. And their implications.

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Crude oil surprised to the upside yesterday. How much of a turning point was it actually? Many of the technical headwinds persist while some have been overcome. We’ll take a look now at the most up-to-date mosaic the oil market offers us. What can we look forward for?

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Yesterday’s session could seem boring on the surface. To some but not to us. The powerful combination of technical forces at play for so long. It seems to be taking over, one at a time. Crude oil looks stumbling and this is encouraging to the bears. How far will they be able to go? Would the U.S.-China trade deal anxiety and the Fed’s policy stance provide the impetus?

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