WTI Crude Oil Price Forecast: Oil Bounces 12 % Off A 12 Year Low

WTI Crude Oil Price Forecast: Oil Bounces 12 % Off A 12 Year Low

WTI took a sharp tumble lower below prior support toward a $25 handle alongside the US Dollar only to bounce 12% on hopes of a producer cut.
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Kristian Kerr   

Sr. Currency Strategist

Currency Pair:  Lowering Stop in Short USD/JPY
Expertise Technical, Time Cycles
Average Timeframe of Trade Few Days - Few Weeks

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Currency Pair:  Bearish AUD/USD Lacking Upside Push into 1-Yr Resistance Point, Downside Favored
Expertise Elliott Wave, Technical Analysis, Intermarket Analysis
Average Timeframe of Trade 1 Week - 3 Weeks

Technical Analysis

Crude Oil Turn in the Pipeline?

Crude oil (WTI) has declined 77.3% since the 2011 high (broad commodities top). That figure is interesting because the financial crisis dec...Continue Reading

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FXCM and DailyFX are happy to announce our $10,000 Monthly Challenge winners for the first month of 2016 trading. Learn more about January's...Continue Reading
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Gold prices increases to the highest level in 8 months on a weakening US Dollar. $1225/oz is the next level of resistance.
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SENTIMENT


Last Updated:Updated: Index is reported every Thursday.
SSI Long Short Signal
EUR/USD 
GBP/USD 
USD/CAD 
XAU/USD 
GER30 
SPX500 

Market Data

Symbol Bid Ask Spread
Market Data figures are provided by FXCM for the trading day.
Symbol Bid Ask Spread
Market Data figures are provided by FXCM for the trading day.

Trading Volumes

Symbol Volume Transactions
EUR/USD 2,891M 83,086
USD/JPY 1,679M 46,766
GBP/USD 787M 29,311
USD/CHF 51M 2,918
AUD/USD 695M 21,376
USD/CAD 720M 21,290
NZD/USD 420M 11,711
EUR/JPY 272M 9,019
Volume and Transaction figures are provided by FXCM for the trading day.

Rollover Rates

Symbol Multiplier Roll S Roll B
EUR/USD 0 0.00 0.00
USD/JPY 0 0.00 0.00
GBP/USD 0 0.00 0.00
USD/CHF 0 0.00 0.00
EUR/CHF 0 0.00 0.00
AUD/USD 0 0.00 0.00
USD/CAD 0 0.00 0.00
NZD/USD 0 0.00 0.00
EUR/GBP 0 0.00 0.00
EUR/JPY 0 0.00 0.00
GBP/JPY 0 0.00 0.00
CHF/JPY 0 0.00 0.00
GBP/CHF 0 0.00 0.00
Currrency Central Bank Rate
   aud
2.00%
   nzd
2.50%
   eur
0.05%
   cad
0.50%
   gbp
0.50%
   usd
0.50%
   chf
-0.75%
   jpy
-0.10%

Forex Economic Calendar


USD Business Inventories
m
A: 0.1%
F: 0.2%
P: -0.2%

USD Baker Hughes U.S. Rig Count
m
A: 541
F: 
P: 571

NZD Performance Services Index
m
A: 
F: 
P: 58.9

JPY Gross Domestic Product (QoQ)
m
A: 
F: -0.3%
P: 0.3%

JPY Gross Domestic Product Annualized
h
A: 
F: -0.8%
P: 1.0%

JPY Nominal Gross Domestic Product (QoQ)
m
A: 
F: -0.1%
P: 0.4%
A: Actual   F: Forecast    P: Previous
Time Event/Host