Daily oil prices continued to push higher yesterday closing the trading session with a narrow spread up candle but with a weak bearish shadow to the upper body as prices continue to flirt with the $82.50 price handle. The key point to note from yesterday’s...
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Daily Oil Price Analysis 4 March 2010
Oil prices finally found some bullish traction yesterday ending the oil trading session as a relatively wide spread up candle which closed marginally above the temporary pause point at $80.80 per barrel. The low of the day was well supported by the 9 day moving...
Daily Oil Price 25 Feb 2010
Daily oil prices continued to pause yesterday just below the 80 per barrel price point, ending the trading session with a relatively wide spread up candle and with a wick to the lower body. Yesterday’s low found good support from the 9 day moving average, which...
Daily Oil Price Analysis 18 Feb 2010
An extremely quiet day for crude oil trading yesterday which closed the session as a narrow doji cross perched on the 40 day moving average which failed to follow through on the strong momentum created in Tuesday’s upwards surge. Whilst the overall picture remains mildly...
Weekly Oil Stats Delayed 10 Feb 2010
The crude oil inventory data which was due for release today by the DOE and covering the week ending 5th February will now not be released until 11.00 am EST Friday 12th February. The delay is owing to the weekend snowstorm which closed federal offices...
Daily Oil Price Analysis 9 Feb 2010
A combination of a stronger US dollar, a small bound in Chinese equities, bad weather in the US and an “inside day” candle pattern on the daily oil chart all helped to breathe some life into early trading this morning, following yesterday’s narrow spread doji...
Daily Oil Price Analysis 4 Feb 2010
Whilst yesterday’s small shooting star candle certainly suggested a degree of bearish sentiment in the crude oil market, today’s sell off has been nothing short of spectacular with daily oil prices crashing back to their level at the start of the week and breaking below...
Daily Oil Price Analysis & DOE Forecast 3 Feb 2010
Crude oil prices have managed to stage a dramatic reversal in the past two days on the back of a weaker dollar and better than expected US ISM data which came in at 58.4 against a forecast of 55.5 with yesterday’s widespread up candle confirming...
Weekly Oil Stats 27 Jan 2010
DOE : Crude Stocks -3.9m (forecast was for +1.4m) DOE : Gasoline +2m (forecast was for +1m) DOE : Distillates +400k (forecast was for -1.5m) Refining capacity: 78.5% (forecast of 78.4%) What is the best oil trading platform? In my view it is Metatrader 4....
Daily Oil Price Analysis 21 Jan 2010
The bearish sentiment evident in the last two weeks for crude oil continued once again today with daily oil prices ending the trading session once again with a widespread down bar and, more importantly, breaching the 40 day moving average which has added to this...
