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...

Continue reading »

Oil Prices Trading Today

We had an ‘inside day’ yesterday for oil prices which was no surprise as Friday’s range was a massive $7.41. The important feature was that it was the first day for a while that a new low was not posted. It is very common after...

Continue reading »

Trading Oil – Prices Update

The oil market ended on a very weak note last week and technically the predictions are for further falls in oil prices this week. Each daily range has had a lower high and lower low for the past eight trading sessions so it is not...

Continue reading »

Oil Trading News October 10th 2008

The oil trading market continues its freefall as the important $85.00 level in the WTI contract failed to hold. As we need to see a series of higher highs and higher lows in an up trend to maintain the trend, the recent price activity below...

Continue reading »

Oil Prices Daily News

Fresh lows were made again yesterday in oil prices, which finally found support at the $81.00 level. This market is looking technically very weak with all of the moving averages pointing south and a break of the aforementioned low will target the peak of July...

Continue reading »

Oil Prices Today

The down trend continued yesterday with oil prices as we saw a lower low and a lower high than the previous day, but only just!! The failure of this market to hold at the $85.00 level is indicating that the long term bull run is...

Continue reading »

Oil Trading – Oil Prices Today

Yet another active day saw oil trade in excess of a $5.00 range which pushed the price through the key $85.00 level. Previous to yesterdays low of $83.36 we have to look back over a year on the charts to find technical support levels, with...

Continue reading »

Trading Oil – Daily Price Forecast

Although Fridays range seemed relatively small to what we have been seeing of late it was still $4.46 and most significantly it made the lowest low we have seen since early February. The 9 day moving average has crossed down below the 14 day which...

Continue reading »

Oil Trading Daily Report – 2nd October 2008

Volatility is still the order of the day in oil with the contract experiencing a $7.50 trading range yesterday. After briefly breaking the $100.00 barrier a failure to hold these levels brought in fresh selling establishing strong chart resistance in the $99.50-$100.50 area. The short...

Continue reading »