Oil

[Irika]

Oil is sandwiched between two levels of support and resistance 87.90 91.70 at the moment is the formation of the northern wave, the end of which it is likely to be around 91.70, will have to watch a breakthrough at this level, and if so, it will signal the resumption of the northern trend.

[smart]

Price of oil approached the pivotal support mentioned yesterday at 87.85, but did not achieve any break him, to bounce up apparently as a new visit to El resistance levels between 91.45-92.25
From here, the impartiality required now, to ensure the most accurate of the following destination in the short term, while high-risk Manmla they can move with the oil in both sides of the range between the levels mentioned above.
Expected trading range for today is between: Support 88.00 Resistance 93.00

General tendency is expected for today: neutral

[raihan8212]

Crude oil futures continued lower in U.S. afternoon trade Monday as growth worries continued despite improvement in U.S. unemployment data.

Investors were keeping a close eye on presidential elections in Venezuela, where a tight race was taking place between President Hugo Chavez and his challenger, Henrique Capriles.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in November traded at USD89.12 a barrel on Monday, down 0.87%, off from a session high of USD89.69 and up from an earlier session low of USD89.54.

The U.S. unemployment rate fell to 7.8% percent in September from 8.1% in August, the Bureau of Labor Statistics reported Friday.

Employers added a net 114,000 jobs in September, while households reported that total employment rose by 873,000 in September following three months of little change.

The number of unemployed Americans stood at 12.1 million in September, the fewest since January 2009.

However, the improvement to the headline rate came from an increase in demand for part-time workers, likely for campaign work ahead of November's presidential elections, which kept oil down.

Finance ministers are due to meet in Brussels later this week and investors stayed away from the commodity to await policy announcements on ways to end the debt crisis.

Meanwhile in oil-rich Venezuela, presidential elections had ended at the time of writing, though electoral officials had yet to announce a winner, keeping markets on edge.

On the ICE Futures Exchange, Brent oil futures for November delivery were down 0.35% and trading at USD111.50 a barrel, up USD21.93 from its U.S. counterpart.

---------- Post added at 09:06 AM ---------- Previous post was at 01:23 AM ----------

Crude oil futures shot up in Asian trading on Tuesday as Syrian violence threatened to spread abroad, with Turkey pledging to defend itself from Syria's cross-border attacks against insurgents along the border.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in November traded at USD90.22 a barrel on Tuesday, up 1.00%, off from a session high of USD90.24 and up from an earlier session low of USD89.92.

Turkish troops fired artillery into Syria to make it clear that it will not allow Syrian violence to further spill over into its territory.

Fears Syrian violence could escalate into an international armed conflict sent crude prices rising.

Meanwhile in oil-rich Venezuela, voters reelected President Hugo Chavez for another term, which pressured prices upwards as well due to Chavez' famous spats with the U.S., a major importer of Venezuelan crude.

Geopolitical fears offset bearish macroeconomic news.

The World Bank earlier cut its 2012 growth forecast for developing Asia-Pacific economies to 7.2% from a May forecast of 7.6%.

The World Bank also said China's economy will growth 7.7% this year, down from a May forecast of 8.2%.

The International Monetary Fund, meanwhile, cut its 2012 global growth forecast to 3.3% from a July estimate of 3.5%.

On the ICE Futures Exchange, Brent oil futures for November delivery were up 0.49% and trading at USD112.72 a barrel, up USD22.50 from its U.S. counterpart.

---------- Post added at 01:06 PM ---------- Previous post was at 09:06 AM ----------

Crude oil futures shot up in Asian trading on Tuesday as Syrian violence threatened to spread abroad, with Turkey pledging to defend itself from Syria's cross-border attacks against insurgents along the border.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in November traded at USD90.22 a barrel on Tuesday, up 1.00%, off from a session high of USD90.24 and up from an earlier session low of USD89.92.

Turkish troops fired artillery into Syria to make it clear that it will not allow Syrian violence to further spill over into its territory.

Fears Syrian violence could escalate into an international armed conflict sent crude prices rising.

Meanwhile in oil-rich Venezuela, voters reelected President Hugo Chavez for another term, which pressured prices upwards as well due to Chavez' famous spats with the U.S., a major importer of Venezuelan crude.

Geopolitical fears offset bearish macroeconomic news.

The World Bank earlier cut its 2012 growth forecast for developing Asia-Pacific economies to 7.2% from a May forecast of 7.6%.

The World Bank also said China's economy will growth 7.7% this year, down from a May forecast of 8.2%.

The International Monetary Fund, meanwhile, cut its 2012 global growth forecast to 3.3% from a July estimate of 3.5%.

On the ICE Futures Exchange, Brent oil futures for November delivery were up 0.49% and trading at USD112.72 a barrel, up USD22.50 from its U.S. counterpart.

[Monik]

Oil today demonstrated a number of very sharp price movements, is now falling to the south, waiting for her near the support level of 87.70 (from which she was very rushed to the north), near the mark going to buy.

[smart]

Now trading at the pivotal 91.45 level, close to the level of re-test support for the ascending channel previously breached and that turns into resistance now at 92.00
Conflicting technical signs now, and this is what we need to get back to neutral in order to monitor the disposal price for the pivotal levels between 91.45 and 92.00

Expected trading range for today is between: Support 88.00 Resistance 95.00



General tendency is expected for today: neutral

[kuntal]

Oil should be marking out the first leg of a larger correction. I have selling position and will closed after profit. Oil should be marking out the first leg of a larger correction. i hope it will increase and gonna reversal for 10, trhen 15 and it gonna touch 10 in coming days..

[Monik]

Yesterday there was an unexpected collapse of oil, this morning, the price was adjusted slightly and is now moving around the blue alligator, if the schedule will be able to overcome it then you can buy in order to about 90.00.

[saqib160]

oil ma trade ma na 2 bar ki ha, 2 bar he muje loos huwa ha us ka bad ma abi tak oil ma trade nahi ke, gold ka
rates kafi bahrta ha usi ma zaydea tar trade karta ho, aur is ma muje kafi faida hota ha,

[Macintosh]

On daily chart at levels 87 dollars is good support and now we can see that prices are back on top again .... but I think the first such obstacle will mark 89.50 dollars so if you think it will overcome and will soon reach 91 ...

[Vamos]

Oil prices have settled very well at elevations 93.25 and today continued its fall .. and now almost reached 87 dollars to support ... so I think this will mark a very important ... so we'll see the price can make a stop there to take that position at the top ...