Crude oil trades narrowly in European morning. As USD rebounds after Fed Chairman Ben Bernanke’s speech about policy tightening, commodities pare gains. In the energy complex, WTI crude oil pulls back to…
Tag: Commodities
Gold Declines After the 5-day Rally. Correction Should Be Short-lived
Gold price rallied to 1062.7 before settling at 1056.3, +1.1%, as USD plummeted and crude oil soared. The yellow metal retreats to 1049 in Asia Friday, the first decline after surging for…
Crude Oil Recovers after the Plunge. Nr-term Outlook Remains Worrisome
WTI crude oil plummeted after a 2-day rally as petroleum product inventories increased more than expected. The benchmark contract slid -1.8% to close at 69.57. Others in the energy complex also dropped…
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) Crude oil retreats sharply after rising to 7.197 and hit near term trend line resistance. With 4 hours MACD crossed below signal line, intraday outlook is turned neutral…
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG) Natural gas is staying in tight range today and some sideway trading might be seen. But after all, further rise is expected with 4.351 minor support intact. Current…
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) While intraday upside momentum in crude oil is not too convincing, further rise is still in favor with 68.16 minor support intact. Break of 73.16 will indicate that…
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG) Natural gas’s rise lost some steam after taking out 4.975 but after all, further rise is expected with 4.351 minor support intact. Current rebound from 2.409 is still…
RBA’s Tightening Boosts Sentiment. Investors Seek Risks Again
Commodities rally in European morning as RBA’s surprising rate hike suggested global economic recovery is on the way. WTI crude oil price surges to 71.15 while gold price rallies to as high…
Commodities Strengthen as USD is Prone to Head Lower
After weak trading earlier in the day, WTI crude oil rebounded strongly after release of better-than-expected US ISM non-manufacturing index. The front-month contract climbed +0.66% to settle at 70.41 with the intra-day…
Crude Remains Under Pressure as Recovery Worries Linger
Crude oil trades below 70 in Asia Monday as Friday’s employment data fueled concerns on economic recovery. Weakness in stock market despite renewed decline in USD suggests investors are refraining from taking…