Crude oil Outlook for 25 October 2017

Bullish

Thanks to ongoing crude oil strength, we are upgrading the commodity to bullish in the medium-term. Prices are rising as rude stocks continue to fall around the world, despite rising US exports that are driving concerns regarding future supply. Looking at various technical indicators on the weekly chart, crude oil is looking neither overbought nor oversold, but remains within normal trading conditions. 

Updated