WTI crude oil is carving out a symmetrical triangle pattern, with a descending trend line connecting the lower highs since the spring high near $93 and a rising trend line connecting the higher lows off the July bottom around $68.
Natural gas is testing the lower end of its recent trading range after a sharp selloff knocked price back down from resistance near $2.814.
Natural gas futures sank on Thursday after another larger-than-expected US supply build. Prices for the energy commodity continue to struggle this summer, with forecasts of…
WTI crude oil has broken above the descending trend line that capped every rally attempt since early June, and the former ceiling is now being retested as support.
Natural gas broke above a long-standing descending trend line earlier this month, hinting that sellers were starting to lose their grip after weeks of lower highs.
US crude oil futures surged almost 2% on Tuesday, topping $83 per barrel. Investors reacted to news that Iran will not reopen the Strait of…
WTI crude oil has broken above the descending trend line that connected its lower highs since late July, hinting that the selling pressure from the previous swing high near $82.50 may be fading.
Natural gas appears to be staging a reversal after breaking above the descending trend line that had been capping its slide since early August.