Trading Oil Update – 17th September 2008

After making lows for the 10th consecutive day the bounce saw oil push up to the previous days low at $92.20. This morning’s activity has seen a rally through this level and could lead to further short covering initially targeting resistance at around $94.80. Even...

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Trading Oil Update – 16th September 2008

The downtrend continued with a vengeance yesterday and as suspected struggled to find any decent levels of support. I am continually looking further back along the chart to find potential areas where this market could historically hold. The downside technical target is now the low...

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Trading Oil Update – 15th September 2008

The technical picture is still pointing downwards, with yet another low (for the seventh consecutive day). With all the moving averages pointing lower and a somewhat relentless downward trend it is very hard to find levels where this market is likely to find support. Picking...

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Daily Oil Update – 12th September

Technically, this market is more bearish than Winnie the Pooh. We saw a lower low for the sixth day in a row and we still have bearish moving averages. As with trends of this nature, speculators will tend to get hurt if they buck the...

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