WTI Crude Futures rallied almost ~30% from the bottom after the massive sell off during last quarter of 2018. Monthly chart shows a bullish engulfing candle. Crude sensitive stocks SLB, HAL have also participated in this uptrend. Will the uptrend continue? On a short term basis, cycles look positive for crude to maintain its uptrend some more. On a longer term basis, a lot will depend upon the direction of world economy, US skyrocketing crude production levels and exports, OPEC/Russia supply levels/cuts.
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| WTI Crude Futures - 01/30/2019 |