As of last week, world crude oil prices have dropped to the lowest price in eight months after U.S. stockpiles unexpectedly increased and a report signaled China’s manufacturing will shrink in Jun 2012. At one stage, oil fell nearly $3 on Thurs (21 Jun) to dip below $80 for the first time since October 2011. Typically, oil price is prone…
Tag: Crude Oil
Crude Oil – Will the rise sustain? | Commodities Prices Review | Nymex / Nybot
Ever since the Crude Oil prices breakout from the $93 resistance, prices has seen a good surge towards $107-$108 region. Strong support at $106. Some caution here when the Crude Oil RSI is hovering around overbought levels. More importantly, there are various bearish divergence signals at RSI & MACD. Current rise may not be sustainable in short term. The next…
Technical Analysis of Crude Oil, Gold | Commodity Prices | CBOT, CME, NYBOT
Political & economic situations should see some light of stability in coming week. Apart from movements in global stock markets, futures market should see further price swings. More importantly, there will be important US economic data to be released this coming week: – Jobless Claims (Thurs)– GDP, Consumer Sentiment (Fri) CRUDE OIL Crude oil has breakout of $93 and since…