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Daily Oil Prices 28 Feb 2011

Although the recent tensions in the Middle East and Libya have been cited as reasons for the surge in oil prices, from a technical perspective I have been long the commodity for many months – in fact I was fully expecting oil to breach $100...

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Daily Oil Prices 24 Jan 2011

Today’s weaker dollar and positive equity markets have done little for the WTI contract which at time of writing is trading at $87.80 per barrel, having fallen from a high of almost $90 per barrel.  Crude oil remains soft on fears that China, which the...

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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...

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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...

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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...

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Oil Prices 22 Nov 2010

Crude oil prices closed lower last week ending the week and the oil trading session as a relatively narrow spread down candle which found solid support from the 9 week moving average, suggesting a possible platform of support in the technical area.  Despite the negative...

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Daily oil prices – 16th November 2010

Friday’s sharp sell off for crude oil on fears of rising inflation in China and a consequent interest rate rise, were duly quelled over the weekend as the Peoples Bank of China decided not to raise rates which had triggered the falls as rumours swept...

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Daily Oil Prices 10 Nov 2010

A day of consolidation in yesterday’s oil trading session for the WTI contract, which saw the commodity trade in a narrow range between $87.63 to the upside and $85.48 to the downside before ending as a doji candle at $86.38 per barrel.  Despite the price...

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