Page 6 - Oil Technical News Today

The crude oil price have been stable as the market braces itself for the crucial US CPI number later today. If inflation misbehaves, will a Treasury rout hit WTI?

Crude oil prices are weaker in APAC trading hours as traders eye OPEC's MOMR and EIA inventory data. Meanwhile, key oil spreads are weakening, suggesting more losses lie ahead.

WTI crude oil prices fell nearly 10% last week, dragging prices to the lowest mark since February. The commodity's chart shows additional losses may lie ahead after breaking below key levels.

Crude oil plunged another 2.7% today with WTI approaching a critical zone of downtrend support- battle-lines drawn. The levels that matter on the WTI short-term charts.

Crude oil surged more than 12% off the July lows with a rebound off technical support in focus heading into August. The levels that matter on the WTI weekly chart.

The US Dollar mostly held onto overnight gains as the market jockeys for position ahead of the Fed decision later today. Will a hike boost USD to sink WTI?

WTI oil is trying to hold a major threshold of support, a sizable rally could develop if it can maintain levels just below.

Crude oil plunged more than 30% off the highs with the decline approaching multi-year trend support. The levels that matter on the WTI weekly chart into the July close.

Crude oil prices are moderating after a multi-day rally that was aided by a weaker US Dollar and risk-on flows. Traders are likely sitting on the sidelines ahead of tonight's EIA inventory data.

Crude oil plunged to levels not seen since February with a 26% drop taking price towards key technical support. The levels that matter on the WTI short-term charts.