Oil

Signs of Weakened US Demand Causes Oil Prices to Drop

The price of crude oil fell more than $0.70 a barrel during the European session yesterday, amid signs that demand in the US is weakening. As the world’s leading consuming country, demand for oil in the US tends to have a significant overall impact on prices. By the beginning of evening trading yesterday, the commodity had dropped as low as $87.10.

Today, oil traders will want to pay attention to the US Crude Oil Inventories figure, set to be released at 15:30 GMT. Analysts are forecasting that US inventories increased by around 400,000 barrels last week, which if true, would be a sign that demand has gone down and could result in additional bearish movement for crude.

---------- Post added at 06:49 PM ---------- Previous post was at 06:33 PM ----------

January crude oil closed lower on Wednesday but the high-range close sets
the stage for a steady to higher opening when Thursday's night session begins.
Stochastics and the RSI are turning neutral to bearish signaling that sideways
to lower prices are possible near-term. If January renews the decline off
September's high, the 87% retracement level of the June-September rally
crossing at 82.36 is the next downside target. Closes above the reaction high
crossing at 89.67 are needed to confirm that a short-term low has been posted.
First resistance is the reaction high crossing at 89.67. Second resistance is
the reaction high crossing at 93.98. First support is the 75% retracement level
of the June-September rally crossing at 85.06. Second support is the 87%
retracement level of the June-September rally crossing at 82.36.

Oil rose for the first time in four days after the publication of the GDP report and on optimism that U.S. President Barack Obama would come to an agreement with Congress on a new budget. The January futures price of WTI rose to 88.66 dollars a barrel on the NYMEX today.

Again, I'm on oil purchase price was supported about 200 bulls moving - 87.60 level and then again started to grow, also worth noting is the fact that the oil on the daily chart for a long time to consolidate around sloping long-run and is now beginning to form a new wave of northern .

January crude oil was slightly higher overnight as it extends the trading
range of the past five weeks. Stochastics and the RSI are neutral to bearish
signaling that sideways to lower prices are possible near-term. If January
renews the decline off September's high, the 87% retracement level of the
June-September rally crossing at 82.36 is the next downside target. Closes
above the reaction high crossing at 89.80 are needed to confirm that a
short-term low has been posted. First resistance is the reaction high crossing
at 89.80. Second resistance is the reaction high crossing at 93.98. First
support is the reaction low crossing at 84.53. Second support is the 87%
retracement level of the June-September rally crossing at 82.36.

i think ager aap oil mai paisa krenge toh apko achi income earn ho skti haikyuki oil hmesha apko profit hi dega kyuki maine bhi oil mai pasia lgaya tha aur mujhe profit hi hua tha.

the short-term chart of oil is rising above resistance breakdown 88.75, so I think that the right will continue to rise from Monday 89.75 to marks ... and then have to look to any other force in the trend ...

Continue to hold the purchase of oil, the price worked fine Friday retreat from oblique support level and now again approached the 89.50 resistance area, now the main task of the bulls will be - to overcome this mark (then and still buy), it will open the way to 92.85.

kia hy is oil me. kia banafits hen is oil k. if you have any info. then please tell me about this oil.

Quote:

---

Originally Posted by ganguly

Oil going on 98, i hope it will increase and gonna reversal for 100, trhen 105 and it gonna touch 100 in coming days but after some correction, not like rocket

---

main is k bary me ni janta sorry

Oil formed a very clear rising channel, a few hours ago, there was a retreat from the upper boundary of the shape and now the formation of a new southern waves, to the lower back can be a sloping boundary of the channel - 86.00 - a figure, waiting for my entry point to sell.