Commodity Trade Mantra

Posts Tagged ‘Crude Oil Rally’

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.

What's Really Driving the Rally in Crude Oil Prices?

Does the huge rally in crude oil mean it’s time for us to bet on higher prices? Or is this rally doomed to fizzle? As crude oil has soared over 50% since Feb. 11, the number of bets on increased prices has barely budged. It’s been a hell of a bottom-bouncer so far. But we need to see more evidence before we’re ready to declare this new crude oil rally alive & well.

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