{"id":56892,"date":"2010-07-16T10:46:24","date_gmt":"2010-07-16T00:46:24","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2010\/07\/16\/crude-oil-not-benefiting-from-usd-weakness\/"},"modified":"2010-07-16T10:46:24","modified_gmt":"2010-07-16T00:46:24","slug":"crude-oil-not-benefiting-from-usd-weakness","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2010\/07\/16\/crude-oil-not-benefiting-from-usd-weakness\/","title":{"rendered":"Crude Oil Not Benefiting From USD Weakness"},"content":{"rendered":"<p>\n\tBy Rudi Filapek-Vandyck<\/p>\n<p>\n\tMarket observers would have noticed how the US dollar had another headache session overnight, but crude oil prices could not benefit from it.<\/p>\n<p>\n\tThe above scenario fits in with the prediction by technical analysts at Barclays Capital that a downward sloping 60 days moving average is proving too much resistance for crude oil prices (regardless of ongoing USD weakness). The analysts thus predict that crude oil&#039;s further upside from here will be limited and instead a narrow, side-ways pattern should unfold next week.<\/p>\n<p>\n\tThe 60-day average is currently at US$77.75 for WTI and the analysts predict next week WTI crude oil futures are likely to remain capped in a range between US$74.25 and US$77.75\/78.15.<\/p>\n<p>\n\tFor Brent, the 60-day average is currently at US$78.20 plus there is a trendline near US$77.35. Below US$75.00 would likely imply a test of US$73.75, state the analysts, but their preferred bias is for a short-term range between US$73.75 and US$77.70\/78.20.<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/Oil_60MA.jpg\" style=\"width: 680px;height: 555px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crude oil is not able to benefit from USD weakness and chartists at Barclays Capital think they know why.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[24],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/56892"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=56892"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/56892\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=56892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=56892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=56892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}