Posted on 24 January 2012
Friday saw the price of crude oil tumble, as traders unloaded their positions before the February contract expired. Questions regarding Greece’s possible debt swap deal also caused prices to slip as low as $98 a barrel. The commodity eventually closed trading for the weekend at $98.42. Today’s meeting of euro-zone finance ministers is likely to [...] Continue Reading...
Spot crude oil prices briefly peaked above the psychological $100 level before being sent lower on a stronger USD and doubts of a continued economic recovery. While the pullback in the price of spot crude oil may seem worrying especially given the bearish technical signal from Thursday’s trading, a healthy trend requires the occasional decline. [...]
Spot crude oil prices seem content to maintain the current trading range as markets look for some type of catalyst to emerge. Crude oil prices have been trading between $89-$95.Yesterday’s ECB rate cut was not the event crude oil bulls were looking for as ECB President Mario Draghi suggested the euro zone could slip into [...]
Many of us trade using the charts – following our technical analysis of the markets, using off the shelf indicators or perhaps a proprietary strategy or system. What we all deal with of course is fighting the overwhelming urges to “Jump the Gun” and basically break our trade plan. There’s not a trade who hasn’t [...]
Thursday, light, sweet crude for November delivery was up $1.84, or 2.3%, to $83.05 a barrel on the New York Mercantile Exchange. A drop in U.S. weekly jobless claims and Germany’s vote to approve an expanded euro-zone rescue fund boosted optimism. The prospect of containment of the Euro-zone debt crisis lifted hopes for increase in [...]
Crude rose by close to $3 Tuesday as optimism regarding an imminent resolution agreement on steps by European Leader in resolving the debt crisis bolstered demand for commodities. Crude oil for November delivery advanced $3.60, or 4.5 percent, to $83.84 a barrel. Continued market optimism will likely support Oil prices at current level, however, a [...]
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