Oil

[anitagala124]

The pickup in risk appetite bodes well for crude, hinting the WTI contract might finish a volatile week on an up note. Looking ahead, all eyes are US Retail Sales and University of Michigan Consumer Confidence figures.

[anchitkole]

betting on strong conviction given recent volatility solely on the basis of a hairline penetration above a minor technical level seems ill-advised. Initial support is found at $81.60.

[anitagala124]

Prices edged above resistance at $85.24, the 38.2% Fibonacci retracement of the 7/26-8/9 decline, exposing the 50% level at $88.18.

[anchitkole]

Crude oil prices remain firmly anchored to sentiment trends, with prices closely tracking the S&P 500. Futures tracking the benchmark stock index swung into positive territory in European hours having traded lower in Asia after France, Spain, Italy and Belgium imposed short-selling bans to stabilize markets.

[anitagala124]

betting on strong conviction given recent volatility solely on the basis of a hairline penetration above a minor technical level seems ill-advised. Initial support is found at $81.60.

[anchitkole]

The pickup in risk appetite bodes well for crude, hinting the WTI contract might finish a volatile week on an up note. Looking ahead, all eyes are US Retail Sales and University of Michigan Consumer Confidence figures.

[anitagala124]

Prices edged above resistance at $85.24, the 38.2% Fibonacci retracement of the 7/26-8/9 decline, exposing the 50% level at $88.18. While RSI studies continue to point to oversold conditions, the penetration higher was very narrow, so betting on strong conviction given recent volatility solely on the basis of a hairline penetration above a minor technical level seems ill-advised. Initial support is found at $81.60.

[anchitkole]

The reports stoked hopes Beijing would slow its efforts to slow the economy implemented to prevent overheating, thereby boosting confidence in the overall global recovery.

[anitagala124]

Crude oil prices remain firmly anchored to sentiment trends, with prices closely tracking the S&P 500. Futures tracking the benchmark stock index swung into positive territory in European hours having traded lower in Asia after France, Spain, Italy and Belgium imposed short-selling bans to stabilize markets.

[Victoryindia]

Weekly US jobless claims figures headline the economic calendar, with mixed results expected as initial applications for benefits nudge higher while extensions inch lower.