Energy news

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WTI Oil Technical: Evolving into minor uptrend

Last week’s intra-week loss of -17% has been recovered partially. Positive technical analysis elements sighted; “Morning Star” daily Japanese candlestick. Short-term overbought condition in hourly RSI highlights the risk of a minor pull-back. West Texas Oil Technical Analysis – Minor uptrend intact but risk of a pull-back Fig 1: West Texas Oil trend as of 8 May 2023 (Source: TradingView, click to enlarge chart) The West Texas Oil (a proxy for the WTI crude oil futures) managed to stage a

08-05-2023 06:38 GMT by Kelvin Wong

Volatile session for commodities and cryptos

After falling almost $20, oil rebounds as demand fears ease Gold tumbles from record highs as Fed rate cut bets get pushed back Bitcoin reverses initial NFP dip and follows broader market rally Oil Oil has found a bottom as risk appetite improves as banking turmoil eases and after employment reports from North America showed significant job strength and defied calls of a looming economic slowdown. After falling $19.74 from the April 12th high, WTI crude has formed a clear bottom. The oil fund

05-05-2023 12:39 GMT by Edward Moya