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USOIL (WTI) Retraces to $59, Resumes Upward Move

Resistance Level: $64, $65, $66Support Level: $58, $57, $56 USOIL (WTI) Long-term Trend: BullishUSOIL has been in an upward movement since November 2020. WTI crude oil has risen from $33.67 to $60.12 high. The RSI has indicated that the crude oil price has reached the overbought region of the market. In this case, sellers may […]

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Brent breaks the Pandemic gap fill level

In hopes of an increase of demand of petroleum based products due to the news of the Coronavirus vaccines being over 90% effective, a massive increase in air travel, the easing of lockdowns measures and the normal winter rally, crude oil futures (WTI and Brent) have rallied above massive levels. Brent in particular has broken […]

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