Crude oil pulls back again after soaring to 67.33 in European morning as USD strengthens. Moreover, mixed performance in European stock markets Tuesday put pressure on energy prices. Although the tension in…
Tag: Commodities
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) Crude oil continues to hover in tight range above 65.23 support today and still, intraday bias remains mildly on the downside as long as 67.02 minor resistance holds….
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG) While upside momentum in natural gas might be diminishing with bearish divergence conditions in 4 hours MACD, further rise is still in favor with 3.733 minor support intact….
Commodity Prices Remain Soft in Asia Monday
Although still trading above 65, crude oil’s near-term outlook remains weak as investors worry about energy consumption. Decline in stock prices in Asia market and rebound in USD exert additional pressure on…
Crude Oil Stays Weak. It’s Correlation with USD Has Surged Substantially
Crude oil price falls below 66 in European morning as USD recovers and stock markets weakens. Currently trading at 65.5, the benchmark contract for crude oil is vulnerable to further decline as…
Crude Oil Weekly Technical Outlook
Nymex Crude Oil (CL) Crude oil dived sharply to as low as 65.05 last week after breaking medium term trend line support decisively. The development affirms the case that crude oil has…
Natural Gas Weekly Technical Outlook
Nymex Natural Gas (NG) Natural gas’s rally extended further to as high as 4.035 last week and remains firm. Upside momentum might be diminishing a bit but further rise is still expecvted…
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) Crude oil’s fall extends further to as low as 65.60 so far, inch above mentioned target of 65.23 cluster support (100% projection of 75.0 to 67.05 from 73.16…
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG) Natural gas’ rise is still in progress and should be target 4.162 resistance. As discussed before, break there will solidify the case that it has bottomed out in…
Technical Rebounds on Commodities May Not End Reversal
Crude oil price recovers Friday after 2 days’ selloff of -8%. Currently trading at 66.35, WTI crude may have the risk of breaking 65 and testing 60 if there’s no supportive news/data…