Chart of the day - OIL.WTI (15.03.2022)

Pullback on the oil market continues with Brent nearing $100 per barrel today and WTI trading near $97 per barrel. A pullback on the oil market was initially reasoned with more optimistic comments on Russia-Ukraine talks. However, the real reason behind the move may be different. China is facing a resurgence of Covid pandemic. China reported 5,280 new Covid cases compared to 1,437 a day ago. As the country chose a zero-tolerance policy to combat Covid, lockdowns were already reimposed in some cities. Having said that, the ongoing drop in oil prices may be driven by an expected demand destruction in China.

What does the chart tell us? Taking a look at OIL.WTI at H4 interval, we can see that a head and shoulders pattern was painted on the chart. Price broke below the neckline of the pattern at $106.50 and downward move accelerated later on. A 200-period moving average (purple line) is being tested at press time. A break below this moving average may pave the way for a test of the mid-term support in the $95.50 area. An ultimate target for sellers is $88.60 area, marked with a textbook range of a breakout from the aforementioned head and shoulders pattern.

Source: xStation5

18 August 2026, 6:50 PM

Daily Summary: Nasdaq at 1-week low, gold and silver erase gains (18.08.2026)

18 August 2026, 4:23 PM

COFFEE surges 3.4% ☕️

18 August 2026, 3:02 PM

Oil Prices Fall Following Trump's Comments⬇️ Will Tehran Allow the U.S. to Take Control of the Strait of Hormuz?🚢

18 August 2026, 7:25 AM

🏯Chart of the Day: The end of the idyll in Japan? JP225 loses over 2%.

Commodities

Cookie name	Description
SERVERID
userBranchSymbol	Expiration date 1 day
test_cookie	Expiration date 1 hour
adobe_unique_id	Expiration date 364 days
__hssc	Expiration date 1 hour
SESSID	Expiration date 1 day
__cf_bm	Expiration date 1 hour
intercom-id-iojaybix	Expiration date 270 days
intercom-session-iojaybix	Expiration date 6 days
xtbCookiesSettings	Expiration date 364 days
TS5b68a4e1027
countryIsoCode
xtbLanguageSettings	Expiration date 364 days
userPreviousBranchSymbol	Expiration date 364 days
intercom-device-id-iojaybix	Expiration date 270 days
__cfruid
_cfuvid

Cookie name	Description
_gid	Expiration date 1 day
_gat_UA-98728395-1	Expiration date 1 hour
_gat_UA-121192761-1	Expiration date 1 hour
_gcl_au	Expiration date 89 days
_ga_CBPL72L2EC	Expiration date 729 days
_ga	Expiration date 729 days
__hstc	Expiration date 179 days
__hssrc
_vwo_uuid_v2	Expiration date 365 days
_ga_TC79BEJ20L	Expiration date 729 days
_vwo_uuid	Expiration date 365 days
_vwo_ds	Expiration date 29 days
_vwo_sn	Expiration date 1 hour
_vis_opt_s	Expiration date 99 days
_vis_opt_test_cookie
af_id	Expiration date 394 days
afUserId	Expiration date 730 days
AF_SYNC	Expiration date 6 days
AnalyticsSyncHistory	Expiration date 29 days

Cookie name	Description
MUID	Expiration date 389 days
_omappvp	Expiration date 3998 days
_omappvs	Expiration date 1 hour
_uetsid	Expiration date 1 day
_uetvid	Expiration date 389 days
_fbp	Expiration date 89 days
fr	Expiration date 89 days
_ttp	Expiration date 89 days
_tt_enable_cookie	Expiration date 89 days
hubspotutk	Expiration date 179 days
IDE	Expiration date 389 days
YSC
VISITOR_INFO1_LIVE	Expiration date 179 days
li_sugr	Expiration date 89 days
guest_id_marketing	Expiration date 729 days
guest_id_ads	Expiration date 729 days
guest_id	Expiration date 729 days
muc_ads	Expiration date 729 days
VISITOR_PRIVACY_METADATA	Expiration date 179 days
MSPTC	Expiration date 389 days

Cookie name	Description
bcookie	Expiration date 364 days
lidc	Expiration date 1 day
UserMatchHistory	Expiration date 29 days
bscookie	Expiration date 364 days
li_gc	Expiration date 179 days
personalization_id	Expiration date 729 days