Oil

[hodhod2000]

The trading range for today is expected among the major support at 82.00 and the major resistance at 86.10.

The short-trend trend is to the upside with steady weekly closing above 78.00, targeting 104.65 and 110.55

[ahmed fakhry]

The December futures price of U.S. light crude oil WTI fell to 84.10 dollars per barrel thus resumed their decline after a U.S. government report reported an increase in stock reserves for the fourth time in five weeks.

[hodhod2000]

The trading range for today is expected among the major support at 84.00 and the major resistance at 92.00.

The short-trend trend is to the upside with steady weekly closing above 78.00, targeting 104.65 and 110.55.

[Robi]

Oil shows are crazy traffic, after yesterday's rapid growth today, we saw the resumption of the southern trend with incredible force, the price close to the strong support of 84.56, I think of it you can try to catch the northern lights out correction.

[ehabgemy]

The price oil begin maneuvers on the critical level of 88.40 and show us through the important and sensitivity

[hodhod2000]

The trading range for today is expected among the major support at 84.00 and the major resistance at 92.00.

The short-trend trend is to the upside with steady weekly closing above 78.00, targeting 104.65 and 110.55.

[Bieela_cute]

Commodity Observations: Crude made a bullish JS Thrust today. The previous 2 bullish thrusts occurred on 6/29 and 8/3. In both instances, crude was coming off of lows and the thrusts ‘announced’ that a new bull move was underway. What’s more, the rally appears to be unfolding impulsively. One more high (above Tuesday’s high) would probably complete 5 waves up from Monday’s low and give way to a correction that lasts at least a day.

Commodity Trading Strategy Implications: Strength into the trendline on Wednesday would present an opportunity to short for a drop that corrects the rally from the Monday low.

LEVELS: 8588 8675 8770 8980 9044 9125

[ahmed fakhry]

The prices of oil continued their yesterday’s rise adding 1.3 % after a survey showed that fuel stocks may have fallen by 1.5 million barrels to a level of 198 million barrels last week. December futures price of U.S. light crude oil, WTI rose to 89.24 dollars a barrel on the New York Mercantile Exchange.

[raihan8212]

Crude oil futures fell in Asian trading on Wednesday, wiping out earlier gains as investors avoided the growth-sensitive commodity to await U.S. electoral results.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in December traded at USD88.06 a barrel on Wednesday, down 0.73%, off from a session high of USD88.25 and up from an earlier session low of USD87.88.

Crude oil traded higher earlier on sentiment that Republican candidate Mitt Romney may beat out President Barack Obama, a situation that many believe would result in tax cuts and a dismantling of regulations that would spark more growth and demand for energy.

Still, many battleground states were closing their polls with results too early or too close to call, which sent investors opting to ride out electoral uncertainty in the safety of the greenback.

Results began to trickle with little surprises at the time of writing, though investors held off on making decisions with key states such as Florida and Ohio still up in the air.

Weather reports forecasting another storm poised to hit the northeast so soon on the heels of Superstorm Sandy pushed prices down as well on fears refineries in the area my throttle down operations and buy less crude until the weather improves.

On the ICE Futures Exchange, Brent oil futures for December delivery were down 0.39% and trading at USD110.66 a barrel, up USD22.60 from its U.S. counterpart.

[Macintosh]

Oil today showed very good tug on the north struck a spark ... that the level of 87.30, and a histogram starts punching its signal line on the top ... so most likely course is taken at around 93 dollars ...