WTI Crude Oil Forecast August 19, 2020

by birtanpublished on August 29, 2020

from daily forex this is chris taking a look at the wti market and as you can see we have pulled back multiple times and continue to rally the uh 200-day ema has

Offered plenty of support if we can break out to the upside 49 will get targeted now having said that um this is based upon the us dollar falling more than anything else i like buying short-term pullbacks for

Short-term gains not looking for anything major however there are a couple outliers if we get a daily candlestick that closes well below the 50-day ema i would become a seller

Don't see that happening right now uh in the meantime just buying these dips but if we can break 50 then we can go much higher i just don't know how that happens and then in this economic environment

Yes oil is trying to grind itself higher but really we don't have a lot of economies running at full tilt right now to pick up demand and you know the closer we get to 50 the

More shale will be produced opening up more supply and completely negating what opec is doing so it's a slow grind up to this area here and then after that we'll have to reboot and kind of see where we're at

You

Related Videos

from daily forex this is chris taking a look at the uh bitcoin market here you can see that we have uh found the market to be bullish we have broken above the ...
from daily forax this is chris taking a look at the um us stock indices this is the s p 500 and you can see that the s p 500 has uh rallied quite a bit did pul...
Hi this is vlad from effects empire euro dollar failed to settle above the resistance at 1.1870 and is trying to get below the support at 1.1830 if this attempt...
from daily forex this is chris taking a look at the uh crude oil marking cwti has gapped a little bit lower and then basically did nothing so uh at this point ...
from fx empire this is chris taking a look at the euro dollar and you can see that we are reaching above 118 as new york gets on board and perhaps trying to ma...
from daily forex this is chris taking a look at the euro and the pound you can see the euro has fallen a bit during the trading session here on friday as there...
Hi this is vlad from effects empire silver is currently trying to settle above the nearest resistance level at 23.30 if this attempt is successful silver will g...
from daily forex this is chris taking a look at the gold and silver markets you can see gold has smashed into this little short-term downtrend line that i have...
from fx empire this is chris taking a look at the british pound japanese gen pair you can see we shot straight up in the air and uh slammed into 136 but at thi...
from daily forex this is chris taking a look at the west texas intermediate crude oil market and as you can see we have a little bit of stability here it looks...
from daily 4x this is chris i'm taking a look at the indices and the e-mini contracts in america this is the s p 500 you can see that we have fallen a bit ...
from daily forex this is chris taking a look at the us dollar japanese yen and the aussie dollar the dollar yen as you can see continues to kind of chop around...
from fx empire this is chris taking a look at the dollar yen weekly chart you can see that we are dancing around 105 at this point if we rally 106 is an area i...
from daily forex this is chris taking a look at the wti crude oil market you can see that we have rallied a bit during the trading session here on wednesday yo...
from fx empire this is chris taking a look at the euro dollar weekly chart you can see that we have a slice through 117 on the weekly time frame now it looks l...
from daily forex this is chris taking a look at the um euro and the pound and you can see that the euro did rally a bit during the training session a lot of th...
good morning this is bob mason from fx empire and welcome to the daily crypto tech review we'll be looking at bitcoin ethereum litecoin and ripples xrp the ...
from daily forex this is chris taking a look at the s p 500 you can see we've rallied quite nicely during the trading session um but uh really at this poin...
from daily 4x this is chris taking a look at the dollar yen and the aussie dollar pairs you can see the dollar yen has broken down a bit during the uh trading ...
from fx empire this is chris taking a look at the s p 500 you can see that we are reaching towards 3200 an area that has previously been resistance and now is ...