Oil

[Tyler7]

Oil formed a rising channel, Friday was noted break 87.70 resistance and fortifications above the 200 moving, it seems the price looks to the north and the next week expect to be closer to the mark of 90.00 (it is about the upper limit of the channel).

[poncoez]

Crude oil futures rose in U.S. trading on Friday after German business confidence data came in better than expected, fueling hopes the European economy may see better days ahead and demand more fuels and energy going forward.

Protests across Egypt spooked investors on fears unrest instability in the Mideast could threaten supply.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in January traded at USD88.13 a barrel on Friday, up 0.86%, off from a session high of USD88.52 and up from an earlier session low of USD86.75.

In Europe earlier, the German Ifo Institute reported that its index of business confidence jumped to 101.4 in November from 100.0 in October, beating expectations for a decline to 99.5.

The data came in the heels of a report revealing that Germany’s manufacturing purchasing managers’ index climbed to 46.8 in November from 46.0 in , beating out market forecasts for a 45.9 reading.

Germany's month-on-month gross domestic product grew 0.2% in the third quarter, in line with expectations.

The broader eurozone’s manufacturing purchasing managers’ index rose to 46.2 for November from 45.4 in October, above expectations for a reading of 45.6.

That data sparked demand for crude on sentiments the European economy may be on the mend somewhat and will need more fuels and energy in the future.

Oil also rose on fears Mideast unrest could escalate into a regional, multiplayer military campaign and disrupt global supply.

Egyptian President Mohammed Morsi gave himself sweeping new powers, which drew supporters and opponents clashing in the streets across the country days after a cease fire was declared between Israel and Hamas militants in the Gaza Strip.

On the ICE Futures Exchange, Brent oil futures for January delivery were up 0.45% and trading at USD111.05 a barrel, up USD22.92 from its U.S. counterpart.

[Jobs]

Yes Oil can be seen as a bad work levels, though not entirely clear but the overall picture is clear ... a retreat from the support of 86.50 and the breakdown of the moving average is 200, and apparently the price is moving back to the resistance 89.60 ...

[suhermanto]

I think yet the oil present also lift because umpteen of its debt crisis in Europe and Land, and watch out for tomorrow and the next day because there is news that can achieve the oil move.

[HaQi]

I reckon yet the oil faculty also jump because more of its debt crisis in Europe and America, and surveillance out for tomorrow and the incoming day because there is news that can variety the oil run.

[ahmed fakhry]

The World oil prices corrected today and the January futures price of WTI finished at 87.09 dollars a barrel on the New York Mercantile Exchange after a ceasefire on conflict between Israel and Palestinian militants, which lasted for about a week and took lives of at least 160 people was established at the region.

[tradergalau]

The World oil prices corrected today and the January futures price of WTI finished at 87.09 dollars a barrel on the New York Mercantile Exchange after a ceasefire on conflict between Israel and Palestinian militants, which lasted for about a week and took lives of at least 160 people was established at the region.
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[mohamedsalah]

Yesterday, Oil can't break the both high or low of the Thursday's candle. Oil still moved in small range and formed a second inside bar. So, now the newest inside bar will be the focus point. If Oil can break the yesterday's high, Oil may goes up to the 89.28 resistance level. But if Oil can break the yesterday's low, Oil may falls to the 85.71 support level.

[tradergalau]

Yesterday, Oil can't break the both high or low of the Thursday's candle. Oil still moved in small range and formed a second inside bar. So, now the newest inside bar will be the focus point. If Oil can break the yesterday's high, Oil may goes up to the 89.28 resistance level. But if Oil can break the yesterday's low, Oil may falls to the 85.71 support level.

[Vamos]

basically quite predicted pullback price goes from level to level, though slightly sews, now again as dropped to around 86.50 which previously held the price is very good, so I expect that from the 86.50 price will come up to the top to 89.50 ....