Market Research

Forex analysis — the latest reviews of market instruments and news. All reviews are provided by analysts and shall not be considered as investment advice.

WTI Crude Oil: general analysis


This week, oil price grew. Currently, it reached 4-week highs around 58.85. Now the instrument is supported by the latest API report, according to which oil reserves in the USA sharply decreased by 7.550 million barrels. Gasoline stocks fell by 3.170 million barrels, and distillate stocks rose by only 155,000 barrels.

WTI Crude Oil: technical analysis


On the 4-hour chart, the instrument grows along the upper border of Bollinger bands, the indicator cloud is expanded, which indicates that the upward trend is likely to continue in the short term. The MACD histogram is in the positive area, the signal line crosses the body of the histogram upwards, forming a strong buy signal. Stochastic is on the border with the overbought zone, the signal line of the oscillator is reversing upwards.

Brent Crude Oil: oil prices are growing


Oil prices rose markedly on June 20, responding to Iran’s reports of a downed US drone. The incident caused a stormy reaction of Donald Trump on Twitter and noticeably heightened tensions in the region. Recall that Iran continues to remain under tough US sanctions. Also, the USA recently accused Tehran of attacking two oil tankers in the Gulf of Oman.

WTI Crude Oil: technical analysis


On the H4 chart, the instrument is growing along the upper border of Bollinger Bands, the price range is expanding, which indicates a possible continuation of the upwards dynamics in the short term. MACD histogram is in the positive area and gaining volumes. The signal line is crossing the body of the histogram from below giving a buy signal. Stochastic is crossing the border of the overbought area from below.

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