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…
Tag: oil market
Oil Dropped Below 70 amid Weakness in China’s Diesel Demand
Broad-based decline was seen in commodity prices amid recovery in USD. WTI crude oil price dropped -3.2% to settle at 67.71 while Brent crude oil fell -3.7% to 68.69. Product prices plunged…
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…
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…
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…
Profit-taking Seen In Crude & Gold as Recent Rallies Looked Excessive
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%…
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…