Crude oil Outlook for 29 September 2017

Bullish

Crude oil remains bullish in the medium term, having rallied from its most recent lows in the first week of June. The commodity has continued to soar for a variety of factors, including falling oil stocks, refinery demand following hurricane-related disruptions in the US, and hope for an extension of the OPEC supply cuts. Looking at various technical indicators on the weekly chart, crude oil is starting to look overbought, but remains within normal trading conditions. 

Updated