Category Archives: Crude Oil

Crude Holding Up Well Despite More Bearish News

Fawad Razaqzada

Judging by Thursday’s and most recent price action, crude oil is continuing to shrug off bearish news. This suggests that most of the negative news may now be priced in, which in turn implies that prices may have hit a bottom. But it is still early days and there are no concrete signals to confirm this thesis. Therefore, crude oil speculators should proceed with extra caution now and trade what they see rather than what they would like to see on their charts. more…

WTI: (W)Ound (T)Ight (I)Nside A Triangle

Matt Weller

Wednesday was an interesting day for global markets, highlighted by a big intraday reversal on Wall Street. After gapping almost 1% higher to start the day, US stocks faded into negative territory as of writing as traders expressed their disappointment with Apple’s big media event. Not surprisingly, the waning buying pressure in equities has spilled over into other markets, with bond yields falling, the US dollar rallying, and oil reversing Tuesday’s gains. more…