Month: November 2011

The market rejected $100 again so the assumption must necessarily be made that the mark represents a resistance, if only psychological.

It looks like holiday cheer has spread from the US, across Asia and into Europe as commodities, and all sectors of equities have risen sharply overnight.

Crude oil surrendered yesterday’s gains, heading lower right out of the gate as Asia opened last night. The initial impetus for sellers was probably the stockpile growth enumerated in the API report.

Crude oil price action so far can be described as a desultory rally off lows struck in Asia at 96.55. Prices rallied through yesterday’s close as Moody’s and S&P both reaffirmed their assessment of US creditworthiness…

Markets are under pressure, again, this morning, as Moody’s warned on French debt due to rising interest rates, and the imminent failure of the so-called Super Committee to fashion a budget deal.

Yesterday’s price action suggests that the back of the rally has been broken. While the market will remain headline driven, acknowledging oil’s role as a macro measurement, the price…

Crude oil built upon yesterday’s dramatic rise in overnight trading, posting a high of 103.37 before surrendering over $3.00 after Europe opened, to score a low of 100.01.

Crude oil posted another higher high, higher low and higher settlement as the rally continues. But with a relative strength measurement closing in on 70 on a 14 day moving average basis the market is showing an overbought condition is building…

Crude oil came under pressure yesterday, the first in several sessions, as participants reconsidered perceptions of relief over leadership changes in Europe and supply tightening.