Commodity Trade Mantra

Posts Tagged ‘Crude Oil Chart’

Will Crude Oil Prices Rise To $60 By Christmas?

What does the crude oil chart forecast? Crude oil has made a nice ascending triangle pattern. If the price breaks out of the $52 levels and sustains the breakout, it gives an upside pattern target of $67. However, the markets have rejected the levels above $52 on December 5, but we should see one more attempt at a breakout above the highs.

Brace for a Correction in Gold, Crude Oil Prices on Pre-Positioning for FOMC

Souring sentiment may reflect pre-positioning ahead of next week’s potent news-flow – notably, the FOMC rate decision – with traders using a lull in high-profile event risk to book profits & move toward a more neutral posture. A broadly corrective tone may also bode ill for gold prices after the metal hit the highest level in three weeks. Crude oil prices & the S&P 500 too have declined.

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