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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 – 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...

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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 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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Daily Oil Prices 9 Nov 2010

Following the breakout for the WTI crude oil contract from its recent pennant formation, daily oil prices have continued to move higher in this morning’s early oil trading session with daily crude oil prices at time of writing $87.30 per barrel, as we now look...

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Daily Crude Oil Prices 8 Nov 2010

Following the breakout of crude oil which saw the commodity move firmly away from the $84 per barrel region and the subsequent pennant pattern, the longer term outlook now looks firmly bullish with crude oil prices set to move towards $100 per barrel and beyond....

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Daily Crude Oil Prices Break Higher

The long awaited breakout from the recent pennant formation for daily crude oil prices finally arrived this week aided and abetted by the FOMC statement yesterday with daily oil prices surging higher, as expected and as we have been forecasting for some time.  In today’s...

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Daily Crude Oil Prices 1 Nov 2010

Last Friday’s candle on the WTI oil chart hinted at a possible rise in daily crude oil prices with the candle exhibiting bullish intent, despite closing marginally below both the 9 and 14 day moving averages.  This was duly delivered in today’s oil trading session...

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