Oil Price Outlook: Crude Breakout Accelerates- Resistance Lies Ahead 2021-02-03 17:30:00 Michael Boutros, Strategist
Crude Oil Technical Forecast: WTI Weekly Trade Levels
Crude Oil updated technical trade levels – Weekly Chart
WTI breakout extends into February open– risk for inflection multi-year resistance Advertisement
Oil prices have surged more than 7.2% since the start of February with WTI breaking to fresh yearly highs to trade at 55.89 in early US trade on Wednesday. While the recent price breakout keeps the outlook weighted to the topside, the rally is now approaching multi-year slope resistance and may be vulnerable heading into this zone near-term. These are the updated targets and invalidation levels that matter on the oil price weekly chart. Review my latest Strategy Webinar for an in-depth breakdown of this crude oil price setup and more.
Oil Price Outlook: Crude Breakout Spills into 2021- Resistance Ahead 2021-01-06 18:08:00 Michael Boutros, Strategist
Crude Oil Technical Forecast: WTI Weekly Trade Levels
Crude Oilupdated technical trade levels – Weekly Chart
WTI breakout extends into yearly open– risk for inflection off near-term uptrend resistance Advertisement
Oil prices have surged more than 51% off the November lows with WTI rallying to fresh multi-monthly highs into the 2020 open. The oil breakout is now testing initial uptrend resistance and while the broader outlook remains weighted to the topside, the immediate advance may be vulnerable while below this threshold. These are the updated targets and invalidation levels that matter on the oil price weekly chart. Review my latest Strategy Webinar for an in-depth breakdown of this crude oil price setup and more.
Crude oil prices soared these last two months largely thanks to improving global GDP growth outlook, but the commodity could face hurdles headed into 2021 as covid clashes with vaccine rollouts.
Crude Oil 1Q 2021 Forecast: Covid to Clash with Vaccine Rollout 2020-12-19 13:00:00 Rich Dvorak, Analyst
CRUDE OIL FUNDAMENTAL FORECAST 1Q 2021 - TALKING POINTS
Oil price action has climbed considerably higher during the final months of 2020
Crude oil outlook has improved alongside rising global GDP growth projections
Potential lockdowns, vaccine hiccups, and OPEC production increases pose risks Advertisement
Crude oil prices have ripped higher over the last month and a half. Outlook for the commodity has improved considerably as global GDP growth projections continue to recover. This is because the path of the global economy - and crude oil prices - hinge largely on the course of the pandemic due to its widespread impact on mobility and consumption.