Nymex Light Crude is headed for a test of resistance at $105/barrel*. Recovery of 13-week Momentum above zero indicates a primary up-trend. Breakout above $105 would confirm, offering a target of $112*. 56 more words
Tags » Brent Crude
Drivers will get the slightest of breaks on gasoline prices this summer, according to the Energy Department.
The national average price is forecast to fall – by just one cent – to $3.57 a gallon between April and September, the months when Americans do most of their driving. 430 more words
The monthly chart actually did nothing that interesting in March and has only begun to violate the lower trend line during this month. Basically got an entire month to go before the current candle closes and a break can be confirmed but we can already see there’s some downside pressure and the market draws ever closer to the apex. 557 more words
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The “First Law of Petropolitics,” coined by New York Times columnist Tom Friedman… states that when oil prices are high, the leaders of petro-states can become demanding and belligerent; when they are low, they are more prone to be pussycats.