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Daily Oil Prices 2 Sep 2010 (0)

Published on Thu, 2/09/10 | Daily Oil Prices
daily oil prices for oil trading

WTI Oil Price Chart 2 Sep 2010

Daily oil prices extended their recent upwards momentum in today’s oil trading session with the WTI contract hitting the $75 per barrel price handle.  Having rallied yesterday by almost $2 per barrel the closing price still failed to breach the 14 day moving average which was, however, achieved in today’s trading session and, in addition, appears to be providing solid support to the upwards move.  The technical recovery in daily oil prices was also helped by a further oil platform explosion in the Gulf of Mexico and if the La Nina weather phenomenon is confirmed this too is seen as beneficial for oil prices given its strong correlation to an increase in hurricanes.  The longer term technical picture remains one of sideways of consolidation between $71 per barrel to the downside and $83 per barrel to the upside and these last two days of gains may simply be an interim reversal as daily oil prices move higher within this trending channel.  This will only be confirmed if we see a break and hold above the 40 and 200 day moving averages to the upside with the higher of these now sitting at the $77.50 per barrel handle.

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Daily Oil Prices 1 Sep 2010 (0)

Published on Wed, 1/09/10 | Daily Oil Prices
Daily Oil Prices 1 Sep 2010

The weekly chart for daily oil prices and the WTI crude oil contract in particular, provides an interesting perspective on the current state of the oil market.  The relentless sideways consolidation for crude oil appears to show no sign of reaching a conclusion continued last week with the weekly chart ending as a hammer candle [...]



Daily Oil Prices 26 Aug 2010 (0)

Published on Thu, 26/08/10 | Daily Oil Prices
Daily Oil Prices 26 Aug 2010

Daily oil prices bounced higher yesterday having initially reacted negatively the the bigger than expected build at Curshing.  This positive sentiment has carried over into this morning oil trading session but, from a technical perspective the move higher is not indicative of any longer term reversal in the fortunes of daily oil prices which is [...]



Daily Oil Prices 25 Aug 2010 (0)

Published on Wed, 25/08/10 | Daily Oil Prices
Daily Oil Prices 25 Aug 2010

Daily oil prices continued to slide lower yesterday with the WTI oil contract breaking sharply below the $72 per barrel price point and adding further downwards pressure to the commodity.  With this breach of the support area at $72 per barrel daily oil prices can only now look to the minor support at $71 per [...]



Daily Oil Prices 24 Aug 2010 (0)

Published on Tue, 24/08/10 | Daily Oil Prices
Daily Oil Prices 24 Aug 2010

Daily oil prices moved lower once again in the oil trading session today, pushing below the $72 per barrel level to trade at time of writing at $71.67 and further extend the bearish trend of August.  With oil prices having extended losses for a fifth consecutive day, negative sentiment towards crude oil is now extremely [...]



Daily Oil Prices 23 Aug 2010 (0)

Published on Mon, 23/08/10 | Daily Oil Prices
Daily Oil Prices 23 Aug 2010

Daily oil prices continued lower once again on Friday following a week of sideways price action which hinted at such a move.  Friday’s candle on the WTI contract broke below the $74.30 price point which could have provided a modicum of support but which in fact failed to hold suggesting that we may see further [...]



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Daily Oil Prices 2 Sep 2010

Daily oil prices extended their recent upwards momentum in today’s oil trading session with the WTI contract hitting the $75 per barrel price handle.  Having rallied yesterday by almost $2 per barrel the closing price still failed to breach the 14 day moving average which was, however, achieved in today’s trading session and, in addition, [...]


Daily Oil Prices 1 Sep 2010

The weekly chart for daily oil prices and the WTI crude oil contract in particular, provides an interesting perspective on the current state of the oil market.  The relentless sideways consolidation for crude oil appears to show no sign of reaching a conclusion continued last week with the weekly chart ending as a hammer candle [...]


Daily Oil Prices 26 Aug 2010

Daily oil prices bounced higher yesterday having initially reacted negatively the the bigger than expected build at Curshing.  This positive sentiment has carried over into this morning oil trading session but, from a technical perspective the move higher is not indicative of any longer term reversal in the fortunes of daily oil prices which is [...]


Daily Oil Prices 25 Aug 2010

Daily oil prices continued to slide lower yesterday with the WTI oil contract breaking sharply below the $72 per barrel price point and adding further downwards pressure to the commodity.  With this breach of the support area at $72 per barrel daily oil prices can only now look to the minor support at $71 per [...]


Daily Oil Prices 24 Aug 2010

Daily oil prices moved lower once again in the oil trading session today, pushing below the $72 per barrel level to trade at time of writing at $71.67 and further extend the bearish trend of August.  With oil prices having extended losses for a fifth consecutive day, negative sentiment towards crude oil is now extremely [...]


Daily Oil Prices 23 Aug 2010

Daily oil prices continued lower once again on Friday following a week of sideways price action which hinted at such a move.  Friday’s candle on the WTI contract broke below the $74.30 price point which could have provided a modicum of support but which in fact failed to hold suggesting that we may see further [...]


Daily Oil Prices 19 Aug 2010

Yesterday’s hammer candle on the WTI daily chart has failed to deliver the expected bounce with daily oil prices stubbornly refusing to move higher but rather falling lower and on towards the $74 per barrel region.  This bearish picture is further evidenced by the 9 day moving average which crossed below the 40 day moving [...]


Daily Oil Prices 17 Aug 2010

Another negative day for daily oil prices which ended the crude oil trading session lower once again but with a relatively narrow spread candle which suggests that the recent bearish phase may be drawing to a close.  Indeed in early oil trading this morning the WTI crude contract has been trading higher at $76.03 at [...]


Daily Oil Prices 16 Aug 2010

The WTI crude oil contract continued lower on Friday having broken below the 40 day moving average and further confirming the short term bearish sentiment which had been evident throughout the week.  Once again daily oil prices failed to breach the $82.97, an area which has previously proved to be a barrier to the development [...]


Daily Oil Prices 10 Aug 2010

Yesterday’s inside day candle hinted at a possible reversal in daily oil prices which today ended as a wide spread down bar albeit with a long shadow to the base of the candle which managed to push the WTI contract back to the $80 per barrel price point.  However, with today’s candle breaking through both [...]


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