An interesting week for crude oil and the WTI contract in particular, which finally appears to have broken out of recent sideways congestion in the $94 to $97 per barrel region, and now appears to have picked up the longer term bullish trend once again....
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WTI Crude oil futures continue to consolidate in narrow trading range
Crude oil futures continued to trade in a narrow range yesterday on the daily oil chart, with the October WTI futures contract moving higher during the oil trading session and closing the session at $97.17 per barrel with a narrow spread up bar. This has...
Where next for daily oil prices ?
Crude oil futures continued to trade in a narrow range yesterday, with the October WTI contract closing the day marginally lower at $95.36 per barrel, having reached an intraday high of $96.03 during the oil trading session. Following the recent breakout from the sideways consolidation...
Forecast for daily oil prices – 2nd September 2012
Daily oil prices continued to move higher on Friday following the recent bullish trend with the December WTI contract closing the oil trading session at $96.47 per barrel. Following the sharp sell off for oil, which saw it touch a low of $77.88 per barrel...
Daily Oil Prices 24 Mar 2011
Having finally broken out of its long sideways consolidation the question now is just how far daily oil prices are likely to rise if and when they manage to break through the March 7th top at 106. One of the most straightforward methods would be...
Daily Oil Prices 5 Jan 2011
Daily oil prices have today rebound back above the $90 per barrel price handle following better than expected crude oil inventories which confirmed a draw of -4.2m barrels against a forecast of -1.4m barrels. This data also followed much better than expected employment data in...
Daily Oil Prices – 17 Dec 2010
Following two weeks of sideways consolidation with today’s candle on the oil chart adding to the recent pattern, the only question that remains is whether the explosive break out for oil prices to the upside occurs before the end of the year or in 2011...
Daily Oil Prices 14 Dec 2010
Despite last week’s drift sideways daily oil prices continue to remain firmly bullish with the 9 day moving average in particular providing solid support to any short term pullback. Indeed this was a feature of Friday’s price action with the WTI crude oil contract closing...
Daily Oil Prices 1 Dec 2010
A volatile week for crude oil trading so far with Monday’s strong breakout promptly reversing yesterday as crude oil prices pulled back as a wide spread down candle which found solid support from the 14 day moving average. Indeed this volatile price action has continued...
Daily Oil Prices 29 Nov 2010
Crude oil prices bounced back in style last week with Wednesday’s wide spread up candle injecting some much needed optimism which was duly consolidated on Friday with a hold above all 4 moving averages once again. Indeed a feature of Friday’s candle was the deep...
