Showing posts with label MacNeil Curry. Show all posts
Showing posts with label MacNeil Curry. Show all posts

Tuesday, October 6, 2009

Barclays Technical Analysis: Oil’s Trend Line Key to $75


Crude oil futures may surpass this year’s $75 a barrel high if prices for the most active contract close above their 100 day moving average and a six month trend line, according to technical analysis by Barclays Capital.

November crude oil on the New York Mercantile Exchange has settled above its 100 day rolling mean each day for the past week. While this signals potential for gains, for prices to rally the contract must also close over a line connecting the lowest points between February and July, Barclays said.

“A close above these indicators would point to a push towards the high end of the range that’s held since the middle of June,” Barclays analyst MacNeil Curry said in a telephone interview from New York“.....Read the entire article.

Monday, September 21, 2009

Bloomberg Technical Analysis: N.Y. Natural Gas Set to Decline Below $3

Natural gas futures, which jumped 28 percent last week, may revisit seven year lows after surging into an “overbought” area of resistance between $3.58 and $3.87 per million British thermal units, according to a technical analysis by Barclays Capital. Gas tumbled 82 percent from a high of $13.694 per million Btu in July 2008 to touch $2.409 on Sept. 4. Gas then surged 57 percent through Sept. 18. The futures have entered a resistance zone and the downtrend is likely to resume, MacNeil Curry, a New York based analyst at Barclays, said in an interview. “We’re around the high end of this resistance zone and things are overbought,” Curry said. “This is still an environment where bounces should be sold.....Read the entire article

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