Crude Oil Price News and Forecast: WTI supported by hopes of further OPEC+ output cuts


Crude Oil Outlook: Oil price falls on fresh concerns over trade deal delay

WTI oil fell $1 on Tuesday after President Trump threatened to keep trade deal with China until late 2020.

In addition, US threats of tariffs against France, Brazil and Argentina, further soured the sentiment and increased concerns about slowdown in global demand for energies that would further depress oil prices.

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Crude Oil Price News and Forecast: WTI on a steady recovery above $ 56, API data eyed

WTI (oil futures on NYMEX) picks up fresh bids over the last hour, extending its steady recovery mode from just under the 56 handle, despite the mixed sentiment seen in Tuesday’s European session so far.

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WTI

Overview
Today last price 56.4
Today Daily Change 0.35
Today Daily Change % 0.62
Today daily open 56.05
 
Trends
Daily SMA20 57.24
Daily SMA50 55.67
Daily SMA100 55.84
Daily SMA200 57.64
 
Levels
Previous Daily High 56.73
Previous Daily Low 55.59
Previous Weekly High 58.72
Previous Weekly Low 55.07
Previous Monthly High 58.76
Previous Monthly Low 54.12
Daily Fibonacci 38.2% 56.29
Daily Fibonacci 61.8% 56.03
Daily Pivot Point S1 55.52
Daily Pivot Point S2 54.98
Daily Pivot Point S3 54.38
Daily Pivot Point R1 56.66
Daily Pivot Point R2 57.26
Daily Pivot Point R3 57.8

 

 

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