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Daily Oil Prices – 27th October 2008

Good morning everyone and welcome to another trading week on the daily oil markets, and I believe we are in for some interesting times with oil prices this week. On Friday we saw a range of over $6.00 in crude, as we broke below Wednesday...

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Daily Oil Price News

We saw an ‘Inside day’ for daily oil prices yesterday (by only 4 cents on the low) which with the failure to break below Wednesday’s low leaves us a short-term double bottom. The current chart pattern is indicative of a continuation of the downtrend suggesting...

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Oil Prices Daily News – 23rd October 2008

We saw a trading range of almost $5.00 yesterday in oil prices, and a break out of the technical range as mentioned in my post from yesterday of $65.50 – $73.50 possibly trading as low as $63.96. Despite making a small recovery at the close...

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Daily Oil Prices – October 22nd

As a result of failing to break the 9 day moving average and previous days high, daily oil prices subsequently fell in excess of $3.00. This area now becomes good resistance and charts are now pointing to a range of $65.50 -$73.50 prior to the...

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Oil Prices Daily Report

Daily oil prices continued the up move from recent lows and the next key target is the $75.00 area mentioned in yesterdays oil post. Moving averages are still pointing south but the first real test will be yesterday’s highs at the 9 day moving average...

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Daily Oil Prices Update

Good morning everyone and I hope you all had a good weekend, despite the fact that we are now all moving into a world recession, if not depression. I mentioned on Friday that there was plenty of room for the oil market to bounce without...

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Daily Oil Prices – Friday 17th October

The bleak outlook for oil prices continues, as the Japanese candle chart has shown us the bearish pattern of ‘Three Black Crows’. That is three continuous days with lower ranges and each day closing lower than where it opened. The moving averages are also bearish...

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Oil Prices Daily Report

The market looks very bleak as the important $73.14 level failed to hold yesterday. I noticed that we are looking back into 2006 for our third support level which puts this fall from July into perspective. The market obviously looks like a correction is in...

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Daily Oil Prices – October 15th 2008

We saw another huge range yesterday of over $6 in oil prices, which engulfed the previous days session. Aftr breaking through Monday’s high, prices rose to challenge Fridays high, and there ran out of energy to fall back below Monday’s low, which is a bearish...

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