Oil Price Susceptible to Rise in US Output Following OPEC JMMC Meeting of clients are net short. Long News of clients are net short. Long News of clients are net short. Long News of clients are net short. Long News 2021-04-05 14:00:00 David Song, Strategist
Oil Price Talking Points
The price of oil appears to be stuck in a narrow range as the Organization of the Petroleum Exporting Countries (OPEC) plan to gradually restore production over the coming months
Oil Extends Bearish Price Series as US Stockpiles Rise for Fourth Week 2021-03-17 19:30:00 David Song, Strategist
Oil Price Talking Points
The price of oil extends the series of lower highs and lows from earlier this week as US crude inventories widen for the fourth consecutive week, but current market conditions may keep oil prices afloat as it continues to track the upward trend established in November. Advertisement
Oil Extends Bearish Price Series as US Stockpiles Rise for Fourth Week
The broader outlook for the price of oil remains constructive as it takes out the 2019 high ($66.60) in March, and crude may continue to exhibit a bullish trend in 2021 as Saudi Arabia stays on track to reduce supply by 1 million b/d until April.
Oil Price Susceptible to Large Pullback as RSI Divergence Persists 2021-03-10 20:00:00 David Song, Strategist
Oil Price Talking Points
The price of oil retains the series of lower highs and lows from earlier this week amid a larger-than-expected expansion in US crude inventories, and oil prices may face a larger correction as the Relative Strength Index (RSI) falls back from overbought territory to extend the downward trend established in February. Advertisement
Oil Price Susceptible to Large Pullback as RSI Divergence Persists
The price of oil appears to be facing a near-term correction after taking out the 2019 high ($66.60), and crude may continue to give back the advance following the OPEC Joint Ministerial Monitoring Committee (JMMC) meeting as US crude inventories widen for the third consecutive week.
Oil Price Forecast: Crude Eyes 2019 High Following OPEC JMMC Meeting dailyfx.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyfx.com Daily Mail and Mail on Sunday newspapers.
Oil Price Outlook Mired by RSI Sell Signal Ahead of OPEC JMMC Meeting
2021-03-01 20:00:00
David Song,
Strategist
Oil Price Talking Points
The price of oil extends the series of lower highs and lows from the February high ($63.81) ahead of the Organization of the Petroleum Exporting Countries (OPEC) Joint Ministerial Monitoring Committee (JMMC) meeting on March 3, with recent developments in the Relative Strength Index (RSI) indicating a further decline in crude prices as the oscillator falls back from overbought territory and slips below 70.
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Oil Price Outlook Mired by RSI Sell Signal Ahead of OPEC JMMC Meeting
The price of oil appears to have reversed course ahead of the 2020 high ($65.65) as it trades back within the confines of the ascending channel established in November, but more of the same from OPEC+ may keep crude prices afloat as Saudi Arabia stays on track to reduce supply by 1 million b/d until April.