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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 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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Daily Crude Oil Prices 25 Oct 2010

Daily crude oil prices on the WTI chart closed last week marginally below the 9 and 14 day moving averages which are now set to define the trend for daily oil prices moving forward and in the next few weeks we are likely to see...

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Daily Oil Prices 18 Oct 2010

The WTI daily oil price chart continued to consolidate in a sideways range, moving between $80.76 to the downside and $84.1 to the upside before closing the oil trading session at $81.48 per barrel and perched on the 14 day moving average.  As such we...

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Daily Oil Prices 15 Oct 2010

Daily oil prices continue to trade in a sideways range hovering below the $84 per barrel region but continuing to exhibit the positive sentiment of the last three weeks as they continue to hold above all four moving averages.  Yesterday’s candle ended as a narrow...

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Daily Oil Prices 29 Sep 2010

Daily oil prices continue to trade in a very narrow range characterised in yesterday’s oil trading session by a long leg doji candle which touched $77 per barrel to the upside and $75.50 to the downside before closing at the midpoint.  Yesterday’s price action replicated...

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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 26 Aug 2010

Daily oil prices bounced higher yesterday having initially reacted negatively the the bigger than expected build at Curshing.  This positive sentiment has carried over into this morning oil trading session but, from a technical perspective the move higher is not indicative of any longer term...

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