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Daily Oil Prices 15 Sep 2010

Daily oil prices continue to struggle to find some traction with the WTI contract in particular dropping back in today’s oil trading session towards the $75 per barrel price handle and 9 and 14 day moving averages.  From a technical perspective this fall is not...

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Daily Oil Prices 7 Sep 2010

Daily oil prices continue to hang on grimly to their recent short term gains whilst they struggle to hold at the 9 and 14 day moving averages.  Yesterday’s price action was muted to say the least and today has been little better, as the commodity...

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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...

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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...

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Daily Oil Prices 29 July 2010

An interesting day for WTI crude oil prices yesterday, and following Tuesday’s sharp sell off, ended the oil trading session with a long legged doji candle, suggesting that we may see a bounce in crude oil prices over the next few days.  Having failed to...

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Daily Oil Prices – WTI Oil Chart 23 July 2010

The WTI crude oil contract rallied sharply yesterday closing on the daily oil chart with a wide spread up candle which ended the trading session at $79.40, and marginally below the psychological $80 per barrel level.  Yesterday’s positive sentiment finally broke daily oil prices out...

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Daily Oil Prices – WTI Contract 22 July 2010

The WTI crude oil contract continues to trade sideways in a narrow range with yesterday’s relatively narrow spread down candle finding support from the 9 day moving average. The longer this price action continues then the more defined the pennant pattern becomes and with each...

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Daily Oil Prices 20 July 2010

The WTI crude oil contract continues to trade in a narrow range consolidating around the $77 per barrel region, and as outlined in yesterday’s oil market commentary is now in the process of forming a pennant pattern on the daily oil chart.  Yesterday’s price action...

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WTI Crude Oil Chart 19 July 2010

Another indecisive week for wti crude oil which finished on the weekly oil chart as a doji cross candle firmly enmeshed amongst all of our four moving averages.  As such it is providing little in the way of trading signals at present other than to...

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WTI Crude Oil Chart 16 July 2010

Over the past few weeks oil trading has become extremely tricky as the broader market tries to establish whether the global economy is recovering or likely to tumble back into recession and evidence of this uncertainty can be seen in the monthly WTI crude oil...

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