crude oil

On Thursday, the price of black gold moved higher after the EIA weekly report showed an unexpected decline in crude oil inventories.

While the Bank of Canada has moved ahead of the European Central Bank in raising interest rates first, this hasn’t stopped the EUR/CAD from rising.

Sideways market pricing in the symbols I monitor may continue in this forthcoming trading week, although three markets have a narrow range that can breakout widely.

On Monday, oil bulls extended gains after Friday's invalidation of the breakout, which together with the buy signal generated by the Stochastic Oscillator suggest further improvement.
The forthcoming trading week should be less exciting than this week, as the range math for many markets, many symbols of which may be opening near weekly lows, will likely facilitate sideways pricing more so than trending trades. That said, there may be some carryover trending character in the early part of the week before sideways pivot math and ranges that markets may need to digest set in place.

Oil prices fed into the fears of stock market volatility and now suddenly fears a U.S. production increase. The U.S.

Market players who were expecting fireworks from President Donald Trump’s first State of the Union address were left empty-handed following the dollar’s fairly muted response.
Of the nine markets I follow, the S&P 500, gold, crude oil, the Aussie dollar and bitcoin are setting up for sideways or rangebound behavior or pricing conditions for this coming week. Some are still bearish in technical indicators this Friday, similar to last Friday except from higher prices this time.
On Tuesday, crude oil hit a fresh 2018 high of $64.89 per barrel, but then reversed and declined very quickly, erasing most of Friday increase. What encouraged oil bears to act and how did this decline affect the short-term picture?
Following four consecutive weeks of gains, crude prices have turned lower this week as momentum-chasing oil speculators banked profit after both Brent and WTI contracts hit three-year highs.