Commodity prices rose modestly last week amid weakness in USD. Reuters/Jefferies CRB Index added +1.4% while USD Index plunged almost -2% to 76.6, the lowest close in a year. Commodities normally trade…
Category: Oil
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) Crude oil is still consolidating in tight range and with 4 hours MACD staying below signal line, intraday bias remains neutral for the moment. But after all, further…
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) Crude oil turns sideway after rebound to 72.52 and some sideway trading might be seen. But after all, further rise is still expected as long as 68.96 support…
Oil Price Regained 70 Territory As Driven By Gold’s Rally And USD’s Weakness
Crude oil price surged in tandem with gold and equity markets. The benchmark contract gained +4.5% Tuesday to close at 71. While the OPEC will keep production unchanged in September, the Ministerial…
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) Crude oil’s break of 71.60 resistance suggests that fall from 75.0 is merely a correction in the larger rally and should have completed at 67.34 already. Intraday bias…
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) Crude oil’s consolidation from 67.43 is still in progress and further recover cannot be ruled out. But still, another fall is still in progress as long as 71.60…
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) Crude oil continues to stay in tight range above 64.73 as consolidation continues today. Some recovery might be seen, but after all, further decline is still in favor…
Narrow Trading Across The Board. CFTC Commitments Of Traders Saw Significant Decline In Crude Net Longs
Commodity prices trade narrowly Monday due to Labor Day holiday in the US. Crude oil price edges slightly higher to 68.12 from Friday’s close of 68.02. This week’s focus is on OPEC’s…
Crude Oil Weekly Technical Outlook
Nymex Crude Oil (CL) Crude oil dropped further to as low as 67.43 last week before turning sideway. Initial bias is neutral this week and some sideway trading might be seen. Nevertheless,…
Weekly Fundamental Outlook for Energies and Metals – Gold Shines Again While Crude Loses Glitter
Star of the week was obviously gold which broke out of recent broad trading range and set to resume the long uptrend with target above 1000. We find the rally impressive as…