Sunday, September 16, 2018

USOIL - 17 September 2018


Fundamental Highlights

Oil traders are holding steady with hands hanging over the sell buttons as global markets begin to buckle down ahead of impending further tariffs in the US-China trade war, which threatens to hamper energy markets. The recent supply disruption fear from Iranian sanctions from the US is seeing little play in energies as all eyes are back on the trade war evolution.

Technical Analysis

Crude oil prices were trading in a very choppy manner during Friday's session. the price is currently eyeing the 69.5 resistance level after bouncing from the $68 support level. But if Crude does not find the right momentum, we will be then focusing on the $68.5 support level.

Support: 65.3 64.6
Resistance: 65.88 68.3

Chart (H1)