Crude oil price trades narrowly with a soft tone in Asia Monday. Although we have received some stronger-than-expected economic data and the global environment seems to have turned more positive, all these…
Category: Oil
Crude Oil Weekly Technical Outlook
Nymex Crude Oil (CL) Despite rebounding to 73.16 last week, there was no clear direction in crude oil yet and it’s still staying in established range below 75.0 high. Initial outlook remain…
Weekly Fundamental Outlook for Energies and Metals – Crude’s Rally Derailed from Fundamentals Again
Strength in stock markets and decline in USD were the major reasons for the rises in commodities. In the US, Dow Jones Industrial Average climbed +2.2% to settle at 9820 while S&P…
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) Despite edging higher to 73.19, crude oil failed to sustain above 72.90 resistance and retreated. Intraday outlook is turned neutral again. On the upside, above 79.19 again will…
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…
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…
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…
Risk Aversion Returns amid Trade Protectionism
Crude oil price extends last Friday’s weakness and slides to 68.5 in Asia Monday as driven by decline stock markets and rebound in USD. Recent rallies in commodity and stock markets have…
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) Crude oil’s corrective rebound from 67.05 should have completed at 72.9 already. Intraday bias remains mildly on the downside for 67.05 support first. Break will confirm that whole…
Crude Oil Weekly Technical Outlook
Nymex Crude Oil (CL) Crude oil’s recovery was limited at 72.90 last week and reversed to fall sharply on Friday. Break of 68.96 minor support indicates that such recovery is merely a…