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Crude Oil, Gold Forecast: Covid Fogs OPEC+ Path, XAU Signals Mixed 2021-07-20 04:00:00 Thomas Westwater, Analyst Crude Oil, Gold, Covid, Treasury Yields – Talking Points Crude oil puts in the largest drop of 2020 after OPEC+ agreement Surging Covid cases across Asia, elsewhere, driving demand fears Gold prices fail to catch a bid despite sharp drop in Treasury yields Crude oil prices dropped by the most since September 2020 on Monday after the Organization of Petroleum Exporting Countries and its allies, known as OPEC+, reached a deal that will see the group’s production increase by 400...

Oil Price Forecast: Crude Oil Rally at Risk as WTI Stalls at Resistance 2021-05-18 19:00:00 Michael Boutros, Strategist Crude Oil Technical Forecast: WTI Weekly Trade Levels Crude Oil updated technical trade levels – Weekly Chart WTI rally grinds into resistance for a third week– looking for inflection into 66 Advertisement Oil prices surged more than 17% off the March lows with a three-week rally now pressing technical resistance near the yearly highs. Despite a barrage of headlines regarding the Colonial Pipeline hack, disruptions in the gas supply chain and rising inflationary concerns...

Oil prices surged more than 16% off the March low with WTI now threatening a major breakout at the May highs. These are the levels that matter on the technical charts.

WTI Crude Oil Price Outlook: Breakout Eyes Resistance- Bulls at Risk 2021-04-19 18:00:00 Michael Boutros, Strategist Crude Oil Technical Forecast: WTI Weekly Trade Levels Crude Oilupdated technical trade levels – Weekly Chart WTI breakout vulnerable near-term sub– rally may be vulnerable sub-62 Advertisement Oil prices have surged more than 11% off the March low with a breakout of a multi-month downtrend taking WTI into initial resistance targets. While the broader outlook remains constructive, the immediate advance may be vulnerable in the days ahead below this threshold. These are the u...

Oil Price Outlook: Crude Breakout Vulnerable at Multi-year Resistance 2021-02-20 16:00:00 Michael Boutros, Strategist Crude Oil Technical Forecast: WTI Weekly Trade Levels Crude Oilupdated technical trade levels – Weekly Chart WTI breakout extends into multi-year trend resistance– rally may be vulnerable sub-62 Advertisement Oil prices have surged more than 29% since the start of the 2021 with WTI attempting to mark a fourth consecutive weekly advance to fresh yearly highs. The rally takes price into c...