#WTICrude #Oil - Megaphone pattern on its 5th wave.

attacks exchanged between Houthi's in Yemen and Saudi Arabia.
Houthi's have claimed they've attacked Aramco again and an airport and some other targets inside Saudi Arabia.
I think these back and forth attacks and the Saudis wanting to control the price of oil with more cuts if push comes to shove, it might end up overpowering the fears of low demand for oil from china (And the world due to spread of coronavirus) even temporarily (a correction to 57.75)

for now, the 49-52 price range in #WTIcrude will remain a decent support area for bullish bias.

#WTICrude #Oil - Weekly

Due to lowered demand because of Coronavirus and increased supply by Saudi Arabia in the price-war with Russia, oil is likely going to range between $19 and $35 for at least another 3 months.
I see $13 as the floor for the price of WTI.

#WTICrude #Oil

Despite the 20m barrel cuts from the 35m extra to demand the oil prices kept falling to their historic lows. Today the future contracts will expire and most exchanges have increased their rates a lot (some to even $7 per barrels)
So we should wait to see what happens tomorrow once these contracts are settled and we get close to 1th of May (the deadline for the agreement of opec+ coming into effect) and see how different the spot price and futures of oil are going to get.

Holy shit!
#WTICrude < $2

Oil prices got obloterated in the biggest fall in history in one day.