Crude oil Technical analysis
Oil prices fell sharply Tuesday and yesterday as US Secretary of State Mike Pompeo claimed that Iran was ready to come to the negotiating table over the nuclear deal
Crude Oil Inventories Monthly Report
IEA stated that the oil market showed a global surplus in the second quarter this year versus previous expectations for a deficit.
monthly report stated that the oil market saw a rather significant surplus in the first half of 2019, much larger than previously expected.
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| Crude oil chart |
I wrote the last post: Does the violence that oil has experienced in the past two months come back like a boomerang?
yes, we got it – what next?
it all starts here: Oil is crashing – The marks were on the wall
Crude oil technical analysis:
Short term bearish as long crude oil remain below 56.80
Medium-term bearish as long crude oil remain below 57.30+-
Long term bearish as long crude oil remain below 58.60+-Suggest more down to test price below 55 $ such as 54.20-54.80 $ or even 53$
Break above 58.30 will lead again to high prices – break down 56 will confirm more downs
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| Crude oil analysis |
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