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…
Category: Oil
Weekly Fundamental Outlook for Energies and Metals – Crude is Prone to Head Lower As We Enter the Shoulder Season
The themes directing commodity prices remained to be USD, macro economic outlook and equity markets. The dollar index sank deeper earlier in the week as market sentiment continued to improve. Moreover, as…
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…
Oil Price Remains Soft While Gold Rebounds
Crude oil remains weak in European morning as there’s lack of upbeat economic data to offset the bearish inventory report. Currently trading at 68.5, the benchmark contract for crude oil stays within…
Crude Looks to have the Steepest Fall in 11 Weeks
Crude oil’s decline accelerated Thursday as weaker-than-expected home sales in the US spurred worries on recovery. Although buying interest emerged above 65, benchmark contract for WTI crude oil dropped -4.5% to settle…
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) Crude oil’s fall from 73.16 resumes and is now back pressing 68.02 support. As discussed before, break of 68.02 will suggests that fall from 75.0 is resuming and…
Bearish Inventory Report Triggers Selloff in Energies
Petroleum inventories recorded huge increase last week, indicating persistence of gloomy demand/supply conditions in the sector. According to the US Energy Department, crude inventory rose +2.86 mmb, compared with market expectation of…
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) Outlook in crude oil remains neutral for the moment as it’s still engaging in choppy sideway trading in converging range since 75.0. Question is still on whether price…
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) Crude oil continues to engage in choppy sideway trading below 75.0 and outlook remains neutral for the moment. Question is still on whether price actions from 75.0 are…
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) Crude oil’s retreat from 73.16 extends further today and is now back pressing 70 level. Outlook remains neutral for the moment with question of whether price actions from…