Crude oil Daily Updates

26 December 2017

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Updated 
Short term outlook
Bullish

As crude oil continues to make gains from pipeline closures, we are upgrading the commodity to bullish. Note that both Brent and WTI are now trading within a normal range. This is based on technical indicators on the daily chart. 

Medium term outlook
Bullish

As crude oil rebounds on OPEC expectations, we are upgrading the commodity to bullish in the medium-term. Looking at various technical indicators on the weekly chart, note that Brent is looking overbought. WTI is trading within a normal range.  

Updated