Brent Crude ignores good news
Brent crude is stubbornly holding above support at $104/$105 per barrel despite the promise of an early resolution to the conflict in Libya. Even WTI Light crude [lime] recovered slightly after...
View ArticleGold and crude suffer from strong dollar
Spot Gold is testing support at its initial target of $1600/ounce. The long tail is evidence of buying support, but failure would test $1500. The primary trend direction remains up and, despite gold...
View ArticleBrent oil on tear with Iran sanctions, Europe winters – Commodities – Futures...
PHIL FLYNN: The Brent crude versus WTI spread has blown out to the highest levels since last October surging over $20 on a combination of gluts, cuts and nuts. As U.S. refiners go into hibernation...
View ArticleCommodities weak except for crude
Chinese stocks test long-term support Commodities weaken Crude oil remains high China’s Shanghai Composite Index continues to test long-term support. 13-Week Twiggs Momentum holding below zero...
View ArticleGold-Oil ratio warns of further selling
The Gold-Oil ratio, comparing the price of bullion ($/ounce) to Brent crude ($/barrel), has long been used as an indication of whether gold is in a bull or bear market. When the oil price is high,...
View ArticleCrude: Another bear rally
Crude futures (Light Crude November 2015 – CLX2015) are testing resistance at $50 per barrel. Respect is likely and would indicate another test of support at $40. Breach of medium-term support at $44...
View ArticleCrude heading for $40/barrel
Crude futures (Light Crude December 2015 – CLZ2015) broke support at $44.70 per barrel, warning of another test of primary support at $40. Follow-through below $43 would confirm. Supply continues to...
View ArticleCrude tests $40/barrel
Crude futures (Light Crude December 2015 – CLZ2015) are testing primary support at $40/barrel. Breach is likely — and would signal a decline to $30*. Respect of support would indicate another bear...
View ArticleCrude futures target $32/barrel
Crude futures (Light Crude March 2016 – CLH2016) are consolidating in a narrow band below the former support level at $45/barrel. Breach of $43 is likely and would indicate a test of the August low at...
View ArticleCrude testing support at $40/barrel
Crude futures (Light Crude January 2016 – CLF2016) are headed for another test of primary support at $40/barrel. Breach is likely and would signal another decline, with a target of $30/barrel*. *...
View ArticleCrude headed for $30/barrel
Crude futures (Light Crude January 2016 – CLF2016) broke primary support at $40/barrel, offering a target of $30/barrel*. * Target calculation: 40 – ( 50 – 40 ) = 30Filed under: Crude Oil & Natural...
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