Blog Posts - Brent Crude



WTI and Brent Crude Oil charts: bulls run amok as OPEC and non-OPEC countries agree to cut crude production from Jan '17

WTI Crude Oil chartThe daily bar chart pattern of WTI Crude Oil had formed a 'reversal day' bar (higher high, lower close) on Nov 22. That triggered a correction below all three EMAs into bear territory.On Nov 30, oil's price bounced up wit...

WTI and Brent Crude Oil charts: end of short-squeeze rallies?

WTI Crude Oil chartThe 'V' shaped rally on the daily chart pattern of WTI Crude Oil surged past the 49 level before correcting and closing below 47.50. Shorts got squeezed after OPEC's announcement of a meeting in end-Sept. '16 to discuss a...

WTI and Brent Crude Oil charts: short covering rallies on OPEC output freeze speculation

WTI Crude Oil chartThe daily bar chart pattern of WTI Crude Oil formed a 'rounding top' reversal pattern (clearly visible on the 20 day and 50 day EMAs) during the past three months, and corrected below all three EMAs into bear territory.The fol...

WTI and Brent Crude Oil charts: slip back into bear territories

WTI Crude Oil chartThe following remarks were made in the previous post on the daily bar chart pattern of WTI Crude Oil: "Daily technical indicators are in bearish zones and showing downward momentum - suggesting a possible break below the 200 day EM...

WTI and Brent Crude Oil charts: bulls reluctantly yield ground as bears dominate

WTI Crude Oil chartThe following comment appeared in the previous post on the daily bar chart pattern of WTI Crude Oil: "All three daily technical indicators are looking bearish and showing downward momentum - hinting at some more correction."Oil's p...

WTI and Brent Crude Oil charts: an update

WTI Crude Oil chartIn the previous post on the daily bar chart pattern of WTI Crude Oil, a 'reversal day' bar on daily chart and a 'gravestone doji' candlestick on weekly chart had raised concerns about the formation of an intermediate...

WTI and Brent Crude Oil charts: golden crosses technically confirm bull markets

WTI Crude Oil chartThe daily bar chart pattern of WTI Crude Oil continued its strong rally from the Feb '16 low of 26 - nearly doubling in price by touching an intraday high of 51.67 on Jun 9.However, oil's price formed  'reversal day' bar...

Oil Price Hits $50 For First Time This Year

Global oil benchmark, Brent crude, on Thursday... [[ This is a content summary only. Visit site or click title above]]...
by Jobs & Scholarships in Nigeria on May 26, 2016

WTI and Brent Crude Oil charts: an update

WTI Crude Oil chartThe daily bar chart pattern of WTI Crude Oil received good support from its rising 20 day EMA and rallied to a new high if 49.50 on Wed. May 18, but formed a 'reversal day' bar (higher high, lower close) and slipped down.Note...

WTI and Brent Crude Oil charts: bears spoil the bull party

WTI Crude Oil chartThe daily bar chart pattern of WTI Crude Oil seemed to defy fundamentals and technicals as it continued its rally - giving a huge 20 points (77%) gain in 3 months from the Feb '16 low of 26.Oil's price has traded above its 200...

Crude Oil Prices Hit Fresh High for 2016

Oil prices hit their highest levels of the year... [[ This is a content summary only. Visit site or click title above]]...
by Jobs & Scholarships in Nigeria on Apr 29, 2016

WTI and Brent Crude Oil charts: an update

WTI Crude Oil chartThe following remark was made in the previous post on the daily bar chart pattern of WTI Crude oil: "Even if oil's price crosses above its 200 day EMA, the strong resistance zone between 42-44 will be more difficult to overcom...

WTI and Brent Crude Oil charts: will bear market rallies falter again?

WTI Crude Oil chartThe following comments appeared in the previous post on the daily bar chart pattern of WTI Crude oil: "Oil's price can correct some more. Bulls may use the dip to mount another attempt at crossing the 200 day EMA."Oil's price...

WTI and Brent Crude Oil charts: an update

WTI Crude Oil chartThe daily bar chart pattern of WTI Crude oil tried to defy gravity and made a surge towards its 200 day EMA. Low volumes during the last leg of the rally dashed bullish hopes of a sojourn into bull territory.Oil's price faced...

WTI and Brent Crude Oil charts: sharp bear market rallies coming to an end

WTI Crude Oil chartThe daily bar chart pattern of WTI Crude oil shows a splendid gain of 50% from its Feb '16 low that raised bullish hopes of an end to the long bear market.Speculation that Russia, Saudi Arabia, Kuwait, Qatar and Venezuela will...

WTI and Brent Crude Oil charts: an update

WTI Crude Oil chartThe daily bar chart pattern of WTI Crude oil dropped to touch an intra-day low of 26 - a level last seen 13 years ago - but bounced up sharply to close at the level of the 50 day EMA.Positive divergences visible on MACD a...

WTI and Brent Crude Oil charts: bear market rallies flounder

WTI Crude chartThe daily bar chart pattern of WTI Crude oil crossed above the falling 20 day EMA with strong volume support and touched an intra-day high of 35 on Jan 29. The falling 50 day EMA proved to be a strong resistance. Oil's price...

WTI and Brent Crude Oil charts: an update

WTI Crude chartThe following comments appeared in the previous post on the daily bar chart pattern of WTI Crude oil: "A technical bounce is likely - but there is still no sign of a bottom formation. That means even lower levels are possible ..."Oil's...

WTI and Brent Crude Oil charts: fall to 12 year lows

WTI Crude chartThe daily bar chart pattern of WTI Crude oil briefly rallied past the resistance of its falling 20 day EMA and the 38 level on the first trading day of 2016 - only to form a 'reversal day' pattern (higher high, lower close).R...

WTI and Brent Crude Oil charts: an update

WTI Crude chartThe daily bar chart pattern of WTI Crude oil dropped to a new low below 35 on Dec 14 '15, but formed a 'reversal day' pattern (lower low, higher close) and almost reached the 38 level the next day.Despite good volume support, the...


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