Monday’s session took crude oil above the 38.2% Fibonacci retracement and the barrier of $70. But did yesterday’s upswing change anything in the short-term outlook?

• Read more

During today’s pre-market trading oil bulls took crude oil above the barrier of $70, but will the commodity stay above it for longer?

• Read more

Recent days were good for oil bulls. Thanks to their action, the price of the commodity came back to around $70 and one of the daily indicators even generated a buy signal. Did the outlook turn to bullish? In our opinion, it didn’t. Furthermore, it seems that a fresh July low is still ahead of us. Why? The answer is quite simple - an analogy to the past.

• Read more

After several unsuccessful attempts to break through to higher levels, oil bulls finally meet the first important Fibonacci retracement during Wednesday's session. Was this meeting easy for them? Not really, because the price of crude oil turned back quite quickly to the south. Will oil bears use this opportunity to implement their pro-declining plans in the following days?

• Read more

Although crude oil gained 0.93% on Tuesday, the overall situation in the short term hasn’t changed as much as you could expect after almost 1% growth. But this is not the worst. The picture that emerges from the long-term chart in combination with the current situation in the oil-to-stocks ratio suggests that oil bulls will not sleep well in the coming week(s).

• Read more