380 days ago
Oil is well oversold! $WTI #oil #trading
The banking stress has caused traders to panic over future oil demand. Looking at the RSI indicator, WTI Crude oil appears oversold after the recent fears over a possible hard landing.
380 days ago
The banking stress has caused traders to panic over future oil demand. Looking at the RSI indicator, WTI Crude oil appears oversold after the recent fears over a possible hard landing.
419 days ago
The black gold jumped more than 2% after Russia said it plans to cut production by 500,000 barrels a day.
441 days ago
China's reopening is acting as a demand shock for commodities. It is expected to lift global growth however. China's demand for copper alone is 2x the demand for copper of the US and Europe combined. If commodities prices rise too rapidly, it could certainly cause some inflationary pressures down the road. High inflation in turn forces central banks to tighten monetary policy.
450 days ago
Oil prices are rebounding after testing the 74 levels on WTI. Despite strong fundamentals, oil bulls' faith has been tested by bearish technicals so far, but should the current support level hold, technicals could start showing encouraging signs.
469 days ago
Oil prices are extending their rally that started yesterday. Lower-than-expected US inventory data together with the aggressive reopening of the Chinese economy are fueling bets for higher oil prices.
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