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Crude Oil Rally Stretched, Risk of Possible Correction Ahead 2021-02-15 12:05:00 Justin McQueen, Analyst Oil Technical Levels to Watch Crude Oil Prices Extend Rally as Tighter Supply Underpins Oil prices have gone from strength to strength in recent months, as market participants look to a brighter 2021. That said, the acceleration in the move higher has stepped up with Brent crude futures breaking out since the move above $60, having last week recorded its 4th consecutive weekly gain. Among the primary reasons for this super...

WTI crude oil continues to rally within channel formation May be in for a pullback/consolidation, using channel as guide Advertisement WTI crude oil remains in bullish channel WTI crude oil is on the extended side, but remains within the confines of a well-defined channel structure that keeps it pointed higher. With that in mind, we may see a pullback develop here soon that will alleviate any short-term overbought conditions that exist, but the outlook is generally bullish. A pullback to the lower trend-line could offer would-be longs an opportunity to enter and have a threshold from whic...

Going to put in place loom large. they will begin november the 5th. indian oil exports 6.6 million barrels last year. taking a look at the oil chart right there. oil is kind of drifting sideways right now as this all plays out. look at the indian oil imports from 2017. 6.6 million brought in from the u.s. this year up to 06 million barrels while it cuts back on iranian oil. now, let's talk about iran's oil production. it's opec's third largest producer. 3.8 million barrels per day closer to 2 million barrels right now. 50% of that production goes to china and india. so if independent i can't i...