OPEC meeting dominates oil prices and disappoints….so far!
The progress for oil prices during May has been an interesting one, and indeed one I focused on early in the month as the big […]
Oil
Stopping volume appears on the daily oil chart
Last week was an interesting one for oil traders and speculators, as crude oil continued to move lower from Monday to Thursday, before bouncing strongly […]
It’s a tough life for OPEC!
The recent rally for crude oil, came to a shuddering halt this week with Wednesday’s wide spread down candle driving oil prices firmly back towards […]
Oil continues to remain waterlogged!
For oil traders, speculators and indeed corporate buyers, the price action on the daily oil chart reflects a confused picture for crude oil, and to […]
Oil remains under pressure despite OPEC reassurances
As oil prices continue to fall, all eyes are once again focused on OPEC and the so called ‘Algiers accord’ of last month, much vaunted […]
Oil demand likely to fall in 2017 as prices struggle
Crude oil, like many other commodities and markets are present, continues to remain rangebound with the bullish momentum of earlier in the month now waning. […]
Bullish oil comes to a halt on profit taking
Following the recent bullish trend higher, oil prices closed off the four month high on Friday as fundamental issues continue to weigh heavily, coupled with […]
OPEC gives crude oil a boost
Crude oil managed to find some bullish momentum last week largely as a follow through to the OPEC meeting which announced it would be cutting […]
Oil supply glut continues to weigh heavily
Despite comments from Venezuela suggesting an agreement to cut output, that has resulted in a bounce for oil this morning, last week was another negative […]
IEA revision increases the pressure on oil
This morning’s IEA supply report has suggested demand would remains weak into 2017, and with a downward revision to its demand forecast, this has added […]
Oil prices remain under pressure ahead of NFP
Oil prices have continued to remain pressured once again this week as a confluence of fundamental and technical forces combine to maintain bearish sentiment. And […]
Oil remains very bearish ahead of inventories
The longer term recovery for oil which peaked in the $52 per barrel area last month, is now reversing once more and picking up bearish […]
Good news for commodities with Baltic Dry and CRB
As the first half of the trading year disappears astern, and we look forward to facing the second half, commodity markets in particular now appear […]
WTI oil testing $50 per barrel once again
Whilst many commodities reacted strongly to the US employment data on Friday, with a consequent surge higher on US dollar weakness, oil prices failed to […]
Oil prices continue to tip toe higher
For longer term traders and investors in oil, as we come to the end of another month with the latest weekly oil inventories now posted, […]
Oil prices continue their stately progress higher
The word that comes to mind to describe the price action on the daily WTI oil chart is ‘stately’ with crude oil continuing to move […]
Slower timeframes reveal the future for oil
With so many traders keen to forecast the longer term prospects for crude oil, I thought it was time to add my own thoughts, and […]
Oil takes out one level, and now looks to the next!
When considering such as bearish chart as for crude oil, it’s interesting to play a mind game and consider it as perhaps a stock chart […]