Page 7 - Oil Technical News Today

Crude oil plummeted nearly 10% as recession fears stoke a technical price correction. The levels that matter on the WTI weekly chart.

Crude oil prices dipped today as the threat of recession saw bond yields go lower across developed markets as central banks manoeuvre into inflation fighting mode.

Technical forecasts for oil are always challenging as the market is so heavily driven by fundamental factors like demand and supply, geopolitical uncertainty, war, the value of the dollar, the state of the global economy and others.

WTI oil is rallying after getting hit hard; this may continue in the near-term, which may bring into play big picture pattern later this summer.

Oil prices shifted higher through APAC trading after positive economic signs. API data due out tonight may have an outsized impact on prices amid the EIA's technical issues.

WTI oil was hit hard last week and on that it is testing the resolve of longs; there lies support at its feet and it will need to pop back soon or else may head much lower.

Crude oil prices ripped more than 33% off the April low with the breakout stalling ahead of key resistance. Technical levels that matter on the WTI short-term charts.

Crude oil prices surged 32.5% off the April lows with the breakout now eyeing initial resistance targets. The technical levels that matter on the WTI weekly chart.

Crude oil prices continued to press higher today as supply issues swirl and the US Dollar gave up some ground. Where to for WTI?

Crude oil prices are trading lower for a third day as traders weigh gasoline demand amid record-high pump prices. Summer driving demand in the U.S. may be key for price direction.