Looking at the chart of crude oil from today’s point of view, we can say that the situation didn’t change much in the previous week. After a sharp rally that we saw at the beginning of the month and an invalidation of breakdowns below the long- and medium-term lines, crude oil gave up the gains and declined below $97. Despite this drop, the current corrective move is still shallow and it hasn’t even reached the 38.2% Fibonacci retracement level based on the recent rally, which suggests that another upswing may be just around the corner. Currently, oil investors are focusing on this week’s Federal Reserve meeting and news on the central bank’s bond-buying program. Will the oil market be very sensitive to what happens after that event? Will the Fed decision trigger a further rally or a decline? Before know the answers to these questions, we invite you to check out our Oil Investment Update and find out what the current outlook for the oil market is. Have a nice read.

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The first days of the new month have been very positive for oil bulls. After the breakout above the lower border of the declining trend channel in terms of intraday lows, buyers pushed the price higher and broke above another short-term resistance line. This event resulted in a sharp rally, which took light crude above $98. On top of that, crude oil broke above the upper border of the declining trend channel in terms of intraday highs and above the 50-day moving average. In this way, after seven weeks of losses, crude oil posted its second weekly gain in nine weeks. Does this growth change the outlook for crude oil? What’s next? Can light crude climb higher in the near term? Is it possible that the oil-to-gold ratio will give us some interesting clues? If you want to know our take on these questions, we invite you to check out our Oil Investment Update. Have a nice read.

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Another hard month for oil bulls is behind us. Market participants pushed crude oil down 3.6% as rising supplies weighted on the price. With this downward move, light crude hit a fresh monthly low of $91.77 and broke not only below the short-term support, but also the medium-term one. Although we noticed a pullback which took the price to slightly below $94 on Friday, light crude posted its seventh weekly loss in eight weeks. Will light crude drop any further in the nearest future? Is it possible that the oil-to-oil-stocks ratio will give us some interesting clues? What is the current technical picture for the oil market? We invite you to check our Oil Investment Update. Have a nice read.

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After sixth straight weeks of losses, light crude posted its first weekly gain in seven weeks, as stronger-than-expected U.S. economic data eased concerns over the health of the world’s largest oil consumer. Although crude oil dropped to a fresh monthly low in the previous week, the long-, medium- and short-term support finally encouraged oil bulls to act. We noticed a pullback which took light crude to its first important resistance. Despite yesterday’s drop, the buyers managed to stop further deterioration and hold the November low. Taking this fact into account, oil investors are probably asking the same question once again: Is the final bottom of the recent corrective move already in or not?

Today, we examine the current technical picture of the oil market to see if there’s anything on the horizon that could drive the price of light crude higher or lower in the near future. Is it possible that the stocks-to-oil ratio analysis will give us some interesting clues? We invite you to check our Oil Investment Update. Have a nice read.

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Crude oil posted its sixth straight week of losses last week as rising inventories pushed light crude to its new monthly low of $92.51. In the previous week, crude oil lost 0.65% and dropped to the levels that we saw back in June. Despite this decline, light crude remains above important long-, medium- and short-term support. Although we saw a pullback on Thursday, it was too small to say that the situation had improved – which was confirmed by the price action that we saw in the following days. Yesterday, light crude almost reached the November low and oil investors are probably wondering whether the final bottom of the recent corrective move is already in or not. Today, we examine the current technical picture of the oil market to see if there’s anything on the horizon that could drive the price of light crude higher or lower in the near future. Is it possible that the crude oil-oil-stocks link and the oil-stocks-to-oil ratio analysis will give us some interesting clues? We invite you to check our Oil Investment Update. Have a nice read.

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