Affiliate Disclosure
Affiliate Disclosure adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Crude Oil Forecast: Crude Oil Recovers from Previous Consolidation

In the end, I believe the crude oil is starting to react to not only a little bit of technical analysis, but the fact that it had gotten so cheap.

  • It looks to me like the crude oil market is starting to really take off and at this point you have to look at it through the prism of a short-term move to the 200-day EMA.
  • We'll have to wait and see whether or not there's any follow-through at that, but we have been accumulating for some time and with that being the case I think you continue to just look at dips as a potential buying opportunity.
  • The 75 level should continue to offer a bit of support right along with the 50 day EMA.

Brent and WTI Look the Same

In the WTI crude oil, I think the 200 day EMA is your initial target. After that you could look at about $79. The Brent is very much the same situation, looks very healthy at this point and I am more than willing to step into this market as well. Ultimately, I do think that we will go higher, reaching the 200 day EMA again, but whether or not that actually gets broken remains to be seen. It is closer to some resistance over here. So, I think you have to kind of look at that through that prism as well. Either way, no interest in shorting crude oil. We have formed a massive consolidation and accumulation phase, and now It looks as if we are going to continue to find every dip as a potential buying opportunity.

WTI Crude Oil Forecast Today - 26/01: the WTI crude oil will reach the 200 day EMA again (Chart)

Loose monetary policy around the world is probably the culprit here, and as a result, I think as long as that is going to be the case, we have a situation where traders will look for value, take advantage of it, and move forward. In fact, with a little bit of imagination, you can even start to think about an inverted head and shoulders in both of these charts. So that might be something worth paying attention to as well.

Brent Crude Oil Forecast Today - 26/01: Brent crude oil looks very healthy

Top Forex Brokers

    In the end, I believe the crude oil is starting to react to not only a little bit of technical analysis, but the fact that it had gotten so cheap. Furthermore, there are some questions as to whether or not some of the oil producers have been in the futures markets trying to boost price, and there are always concerns about conflict in the Middle East and attacks in the Red Sea that diverts shipping.

    Ready to trade WTI Crude Oil FX? We’ve shortlisted the best Forex Oil trading brokers in the industry for you.

    Christopher Lewis
    About Christopher Lewis

    Christopher Lewis has been trading Forex for several years. He writes about Forex for many online publications, including his own site, aptly named The Trader Guy.


    Most Visited Forex Broker Reviews