Showing posts with label Crude Oil trading. Show all posts
Showing posts with label Crude Oil trading. Show all posts

Sunday, October 3, 2010

Crude Oil Trades Near Eight Week High as U.S. Consumer Spending Increases

Crude oil traded near an eight week high after economic data from the U.S. and China bolstered optimism that demand is growing in the world’s two largest energy consuming countries. Futures advanced 2 percent on Oct. 1 after U.S. consumer spending increased more than forecast in August as incomes climbed, a Commerce Department report showed. Prices also rose as China’s purchasing managers’ index gained in September at the fastest pace in four months.

“The broad sentiment is that a double dip in the U.S. is looking more and more unlikely,” said Ben Westmore, a minerals and energy economist at National Australia Bank Ltd. in Melbourne. “Combine that with the strong growth in China, and you’ve got the world’s two biggest oil consumers both looking like they’re in a recovery period.”

The November contract was at $81.63 a barrel, up 5 cents, in electronic trading on the New York Mercantile Exchange at 11:07 a.m. Singapore time after reaching $81.87. It surged $1.61 to settle at $81.58 on Oct. 1, the highest close since Aug. 5, capping the biggest weekly gain since February. Consumer purchases in the U.S. climbed for a second month, rising 0.4 percent and exceeding the 0.3 percent gain projected by the median forecast of economists surveyed by Bloomberg News. Incomes were up 0.5 percent, the biggest advance this year.....Read the entire article.


Share

Sunday, June 28, 2009

New Video: Energy Fields....and Gold?

In this new video we analyze the gold market in a way that "we've never divulged before." We will be talking about energy fields in the gold market and how you can put them to your advantage to make money. The video is short in duration, only four minutes, but I’ll give you specific levels to look at should certain events take place. I suspect that these events will occur and for the lucky few who are prepared the rewards will be great.

The video is free to watch and there is no need to register. Please leave a comment as we would love to know what you think of the video!

Just Click Here to watch the video.

Monday, June 1, 2009

Great Video: Learn How To Trade Crude Oil In 90 Seconds

Is it possible to learn how to trade Crude Oil in just 90 seconds???

“OH YES” and here’s why.

1. SUPPLY 2. DEMAND 3. PERCEPTION

No registration required to watch this video.

Learn how to become a winner in crude oil in just 90 seconds.



Tuesday, May 5, 2009

Crude Oil's Low Range Close Sets Up Lower Opening For Wednesday


June crude oil closed lower due to profit taking on Tuesday as it consolidates some of its recent gains. The low range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near term.

If June extends the rally, April's high crossing at 55.85 is the next upside target. Closes below the 10 day moving average crossing at 51.36 are needed to confirm that a short term low has been posted.

First resistance is today's high crossing at 54.83.
Second resistance is April's high crossing at 55.85.

First support is the 20 day moving average crossing at 51.56.
Second support is the 10 day moving average crossing at 51.36.

----------------------------------------------------------------------------------

The June Dollar closed higher due to short covering on Tuesday as it consolidated some of Monday's decline. The high range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term.

If June extends the decline, March's low crossing at 83.14 is the next downside target. Multiple closes above the 20 day moving average crossing at 85.46 are needed to confirm that a short term low has been posted.

First resistance is the 10 day moving average crossing at 85.09.
Second resistance is the 20 day moving average crossing at 85.46.

First support is today's low crossing at 83.62.
Second support is March's low crossing at 83.14.

----------------------------------------------------------------------------------

The June S&P 500 index closed slightly higher on Tuesday. The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are diverging but remain neutral to bullish signaling that sideways to higher prices are possible near term.

If June extends the rally off March's low, January's high crossing at 937.00 is the next upside target. Closes below the 20 day moving average crossing at 856.13 are needed to confirm that a short term top has been posted.

First resistance is today's high crossing at 904.90.
Second resistance is January's high crossing at 937.00.

First support is the 10 day moving average crossing at 868.18.
Second support is the 20 day moving average crossing at 856.13.



Barclay's reported today that they see Crude oil trading $71 dollars in the near future. Do you agree? Please feel free to comment!



Create FREE Portfolio


-
Stock & ETF Trading Signals