Crude oil price rose to as high as 73.16 Thursday as driven by better-than-expected US housing starts, initial jobless claims and Philly Fed manufacturing data. However, the gauge ended the day -0.1%…
Tag: Oil
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) Crude oil’s rebound extended further but after all it’s still kept below 72.90 resistance. Intraday bias remains neutral for the moment. As noted below 72.90 will suggest that…
Oil Price Remains Firm As Strong Stock Market Offers Support
Strong trading momentum in crude oil persists and the benchmark contract rises further to 72.7 in European morning. Investors remain thrilled by the huge draw in crude inventory despite weak fuel demand….
Commodity Prices Strengthen as USD Continues its Slide
Crude oil price rallied +2.2% to settle at 72.51 Wednesday as oil inventory had a huge draw last week and decline in the dollar boosted demand for commodities. Others in the energy…
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) Crude oil’s break of 69.81 minor resistance suggests that fall form 72.90 has completed at 68.02 already and intraday bias is turned neutral for the moment. On the…
Gold Price Rockets Amid Higher Inflation Expectations
Gold price extends strength in European morning and rises to as high as 1023.3 amid renewed inflation expectations. Rally in stock markets driven by better-than-expected economic data drag the dollar lower. This…
Crude Oil Rebounded Amid Strong US Eco Data
Crude oil price rebounded strongly Tuesday as OPEC raised oil demand forecasts for 2009 and 2010, US economic data beat market expectations as well as Fed Chairman Ben Bernanke said that US…
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) At this point, intraday bias in crude oil remains on the downside with 69.81 minor resistance intact. Fall from 75.0 is still expected to extend to 00% projection…
Rebounds in Equity Markets Boosted Commodity Prices
Despite weakness in Asian session, crude oil price recovered in NY session amid rebound in stock market and renewed selling in USD. The October contract slid -0.6% to 68.86. Concerning others in…
Gold’s Outlook Mixed in Near-term But may Rise to 1100 in 6 Months
Gold price continues hovering around 1000 in European morning but with a soft tone. Near-term outlook is mixed but the dollar remains a crucial determinant. USD recovers against the euro (currently trading…