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We will see a rise back to $40. Putin is totally bluffing on producing oil at $25 to $30 for 6 to 10 years. He has already hinted on the willingness to talk to Opec. They cannot produce a $40 barrel of oil and then keep selling it for $30. Upward price pressures will develop. A good long trade. WTI Crude Oil Outlook for October: Speculative price range for WTI Crude Oil is 36.00 to 44.00 USD. Support at 38.60 USD looks attractive, but if punctured lower WTI could retest the 37.60 to 36.00 USD junctures if weakness develops. Resistance at around 42.00 USD looks significant, but if broken the 43.50 USD could be tested. This type of crude oil is used as a benchmark in oil pricing and the underlying commodity of NYMEX's oil futures contracts. Due to its 'lightness' and 'sweetness', WTI crude is normally selling at ... Crude Oil Price Update – Stuck Between 50% Resistance at $40.72, 50% Support at $39.57 The direction of the December WTI crude oil futures contract on Friday is likely to be determined by trader ... CRUDE OIL OUTLOOK: WTI crude oil prices erased earlier gains and swung lower, US Dollar gained ; Demand outlook is weighed by Fed’s looming outlook of the economic recovery; Near-term momentum seems biased towards the downside, as the MACD indicator suggests
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