Market Commentary

UK Oil - Drops to 18 Year Low Near $25 as Global Demand Disappears

on March 31, 2020 | By Stuart McPhee | UKOil

In the last two weeks UK Oil has traded in a narrow range roughly between an 18 year low around $25 and $29, after having fallen dramatically throughout the previous three weeks, finding little support from anywhere on its way down. It experienced a significant gap down from $45 to $35 three weeks ago, and despite its efforts to rally back in the day or so afterwards, it has since fallen lower to around $25. It now has no obvious support levels with the possible exception of round numbers, e.g. $25 and $20.

Effects of Coronavirus on the Economy. This week’s Non-Farm Payrolls.

on March 30, 2020 | By Brad Alexander | UKOil, USOil, WTI, Non-Farm Payrolls, Fundamental Analysis, S&P 500, Brent Crude, US500, USDCNH, Coronavirus, Market Blast

Welcome to this week’s Market Blast Fundamentals where we will look at Coronavirus, UK Oil (Brent Crude), US Oil (WTI), USDCNH, and the S&P 500.

EIA United States Crude Oil Stocks Change

on March 25, 2020 | By Stuart McPhee | UKOil

Today at 2:30pm UK Time. The EIA Crude Oil Stocks Change Indicator measures the number of barrels of commercial crude oil held by US companies. It is one of the indicators affecting world oil prices. F: 3.086 M, P: 1.954 M. #UKOil may rise above 30.

Market Recap: 16 - 20 March

on March 23, 2020 | By Stuart McPhee | EURUSD, DJIA, GBPUSD, UKOil, US30

On Tuesday last week we covered the US30 index which spent the remainder of the week continuing to decline to multi-year lows below 20000. In the last week or so the US index has recorded multiple record percentage and points drops. This resulted in its third significant weekly drop out of the last four pushing it to the lows below 20000. In the last two weeks the index has fallen sharply from above the key 25000 level, and this level is likely to reverse roles and offer any resistance if and when the index decides to climb back higher again.

EIA United States Crude Oil Stocks Change

on March 18, 2020 | By Stuart McPhee | UKOil

UK Oil - Drops to Four Year Low Below $30 as Demand Dries Up

on March 18, 2020 | By Stuart McPhee | UKOil

In the last week or so UK Oil has fallen dramatically to a four year low below $30 as it is finding little support from anywhere. It experienced a significant gap down from $45 a little over one week ago to $35, and despite its efforts to rally back, it has since fallen lower. It now has no obvious support levels with the possible exception of round numbers, eg. $25 and $20. The last three weeks have now seen UK Oil fall from a previous key level at $58 down to the multi-year lows.

EIA United States Crude Oil Stocks Change

on March 11, 2020 | By Stuart McPhee | UKOil

Indices Regaining Lost Ground. WTI Consolidating.

on March 10, 2020 | By Brad Alexander | USDJPY, USDCAD, Market Blast Videos, UKOil, USOil, WTI, Technical Analysis, S&P 500, Brent Crude, US500, EURCAD, USDCNH, Renminbi

Welcome to this week’s Market Blast Technicals where we will look at USDCNH, USDCAD US Oil (WTI), UK Oil (Brent Crude), USDJPY, the S&P 500, and EURCAD.

Oil Plummets on OPEC Feud. Price Gaps Everywhere.

on March 9, 2020 | By Brad Alexander | USDCAD, UKOil, JP225, USOil, EURJPY, WTI, Fundamental Analysis, AUDJPY, Brent Crude, Nikkei, EURCHF, Coronavirus, Market Blast, Comdoll

Welcome to this week’s Market Blast Fundamentals where we will look at EURJPY, EURCHF, the Nikkei (JP225), AUDJPY, USDCAD, UK Oil (Brent Crude), and US Oil (WTI).

Market Recap: 2 - 6 March

on March 9, 2020 | By Stuart McPhee | EURUSD, USDJPY, DJIA, UKOil, US30

On Tuesday last week we covered UK Oil which spent the remainder of the week falling sharply to a near three year low near $45. It started last week rallying higher from a multi-year low below $49 back up to above $52, however it reversed sharply and headed lower. Three weeks ago UK Oil had done well to rally back up into the range above $58 however it then fell even stronger over the week down to a 2 ½ year low.

UK Oil - Drops to 18 Year Low Near $25 as Global Demand Disappears

Effects of Coronavirus on the Economy. This week’s Non-Farm Payrolls.

EIA United States Crude Oil Stocks Change

Market Recap: 16 - 20 March

EIA United States Crude Oil Stocks Change

UK Oil - Drops to Four Year Low Below $30 as Demand Dries Up

EIA United States Crude Oil Stocks Change

Indices Regaining Lost Ground. WTI Consolidating.

Oil Plummets on OPEC Feud. Price Gaps Everywhere.

Market Recap: 2 - 6 March

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