Nymex Crude Oil (CL) Crude oil continues to struggle around near term trend line support and stays in tight range above 67.43. Intraday outlook remains neutral and some more sideway trading might…
Tag: Commodities
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG) Natural gas’ decline extended further to as low as 2.467 today so far, meeting mentioned long term projection target of 2.50. At this point, intraday bias remains on…
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) With 4 hours MACD crossed above signal line, an intraday low is in place at 67.43 and outlook is turned neutral for the moment. Nevertheless, another fall is…
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG) Natural ga’s down trend resumes by taking out 2.692 low and at this point, intraday bias remains on the downside as loing as 2.913 minor resistance holds. Current…
Reasons For Gold’s Rally: Return Of Safe-Haven Appeal And Seasonality
Gold price rallied +2.3% to 978.5 Wednesday despite weakness in equity and oil prices. Investors’ concern over the US banking sector boosted demand for safe haven. As we noted yesterday, gold’s firmness…
Commodities Strengthen As China Stocks Rebound
Crude oil price rebounds above 69 as rally in China stock market boosted confidence on better oil demand. Reports show that crude oil production in Russia rose +1.3% yoy to 9925M bpd…
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG) Natural gas falls further today and with 4 hours MACD turned negative, recent decline might be resuming. Intraday bias is mildly on the downside for 2.692 low first….
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) Crude oil’s fall from 75.0 extends further and is now pressing near term trend line support. At this point, intraday bias remains on the downside. Sustained break of…
Strong ISM Data Failed To Support Oil, WTI Closed Below 70
Crude oil price sank -2.7% to close at 68.05 Tuesday, the lowest settlement since August 17 as driven by decline in equity markets and strength in USD against the euro. Others in…
Crude Remains Under Pressure – Surge in Fear Index Suggests Lower Risk Tolerance
Currently trading at 68.5, the October contract continues to trade below 70 in European morning. The market awaits the US Energy Department’s inventory report which will likely show a draw in crude…