Hello Folks, here is our latest US Market Report dated Monday, Oct 12, 2020. This report covers S&P500 futures, Nasdaq futures and WTI Crude Oil futures, and our trading strategy for each of them. Thanks.
Category Archives: Crude Oil
Crude Oil Futures Analysis- 02Oct2020

WTI Crude Oil Futures fell about -5% intraday but recovered to about -3% by end of day. And their correction has restarted today, and they are down about -4.65% currently. The short term trend is down, but its looking due for reversal.
The setup becomes weak below $40 per barrel, and the same weakness is playing out again. However, $35-36 are strong support levels and they are unlikely to break, so the current weakness can be used for buying with $36 as stop loss. We can expect a retest of $38-39 levels in the coming week, so those can be the targets. Summary of the trade setup for Crude Oil Traders: Aim to stay long above $36 for target $39.