8:58 AM · 16 September 2020

🛢 OIL soars by 2.5%

OIL is advancing for the second day after defending a pivotal support at $39.30. We pointed out in a post yesterday that buyers were able to stop the sell-off at this support and with a help from favorable API report (that showed large draw in US inventories) it has translated into a rally today. We can spot a double bottom formation with the neckline already broken and textbook reach of $43.20. Wednesday is mostly about the FOMC (7pm BST) but OIL traders will be focused on the DOE report on US inventories (3:30pm BST).

8 December 2025, 6:53 PM

Daily summary: Dollar rebounds on hawkish cut expectations, equities turn red (08.12.2025)

8 December 2025, 5:23 PM

COFFEE dips 2% on new production estimates and delayed EU regulation ☕️ 📉

8 December 2025, 3:02 PM

🛢️Oil Prices Dip 1%

8 December 2025, 8:19 AM

Chart of the day: OIL.WTI (08.12.2025)

Commodities
Technical analysis

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