In the last few days, the oil bulls have finally shown that they haven't lost their horns and are ready to fight for higher levels. Unfortunately, we can't say the same for uranium, where the bulls' involvement has led to important changes in the technical picture. What could this lead to in the days ahead?
Even though the bulls have been down for the last few sessions, they've managed to maintain the short-term support that's most important to them. In addition, another potential ally has appeared on the horizon. Will they use its potential to regain the levels they lost?
Another red candle, another gap, another test… When will there finally be a breakthrough, and we'll see a bigger move in the price of black gold?
On Friday, crude oil lost 2% and extended Wednesday losses. What are the consequences of this price action? Have the bears taken over for good?
The sharp drop in oil prices after the market opened on Wednesday could have scared a lot of bulls. But what are the real implications?
In the last week, you've had the opportunity to read daily about the fate of black gold. At the moment of writing these words, the technical situation has not changed significantly, which means that yesterday's scenario remains valid.
On the one hand, the Monday session can be considered a very successful one. The white candle urges you to make investment decisions now. But what is the other side of the coin, and what are its implications for the nearest future?
Technical tips from the previous days warned of a return of the bears to the market, but such a strong bullish weakness as yesterday was not seen on the chart for a long time. Is there any chance for the buyers to improve their fortunes?
The main factor fueling crude oil prices’ rise is probably Russian production worries, as a more significant drop in production than announced for March is feared.
Crude oil prices continued to rise after reports from the financial press suggested a larger-than-expected drop in Russian production.
Black gold benchmarks continued their decline on Tuesday, having lost more than 2%!
