TraderPlanet.com :: crudeoiltrader's Commentaries

Can The U.S. Economy Survive $80 Crude Oil

Ray Parrish — Wed, 11 Mar 2009 15:06:40 +0000

This is the position we Americans find ourselves in, if the markets rally crude oil will surely soar. But can the U.S. economy even survive $80 crude oil?

Check out our new video....

http://crudeoiltrader.blogspot.com/2009/03/can-us-economy-survive-8000-crude-oil.html

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Stock Market Commentary and Trend Estimates

Ray Parrish — Sat, 17 Jan 2009 01:20:55 +0000

For Key Crude Oil Market Commentary visit http://crudeoiltrader.blogspot.com

For current oil trading videos visit http://oilenergystockvideos.blogspot.com

For Stock Market Index commentary visit http://stock-market-club.blogspot.com

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Crude Oil Market Commentary For Trader Planet Traders - Thursday Evening

Ray Parrish — Fri, 16 Jan 2009 01:53:19 +0000

February crude oil closed lower on Thursday as it extends this week's decline and spiked to a new contract low.

A short covering rally tempered early losses and the mid range close sets the stage for a steady opening on Friday.

Closes below December's low crossing at $35.13 would open the door for a possible test of psychological support crossing at $30.00 later this winter.

Closes above the 10 day moving average crossing at $41.68 would confirm that a short term low has been posted.

Stochastics ...

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Crude Oil Market Commentary For Trader Planet Traders - Thursday Morning

Ray Parrish — Thu, 15 Jan 2009 14:22:30 +0000

February crude oil was higher overnight due to short covering as it consolidates some of this month's decline.

Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term.

If February extends this month's decline, December's low crossing at $35.13 is the next downside target.

Closes above the 10 day moving average crossing at $41.94 would signal that a short term low has likely been posted.

Closes above last Tuesday's high crossing at $50.47 are needed to...

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Crude Oil Market Commentary For Trader Planet Traders - Wednesday Evening

Ray Parrish — Thu, 15 Jan 2009 01:45:32 +0000

February crude oil closed slightly lower on Wednesday as it extends this week's decline.

Today's mid range close sets the stage for a steady opening on Thursday.

The door remains open for a possible test of December's low crossing at $35.13.

Closes above the 10 day moving average crossing at $42.61 would confirm that a short term low has been posted.

Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term.

First resistance is the 20 day moving average ...

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Crude Oil Market Commentary For Trader Planet Traders - Wednesday Morning

Ray Parrish — Wed, 14 Jan 2009 13:44:49 +0000

February crude oil was higher overnight due to short covering as it consolidates some of this month's decline.

Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term.

If February extends this month's decline, December's low crossing at $35.13 is the next downside target.

Closes above the 10 day moving average crossing at $42.75 would signal that a short term low has likely been posted.

Closes above last Tuesday's high crossing at $50.47 are needed to...

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Crude Oil Market Commentary For Trader Planet Traders - Tuesday Evening

Ray Parrish — Wed, 14 Jan 2009 01:21:38 +0000

February crude oil closed higher on Tuesday due to short covering as it consolidated some of this week's decline.

Today's mid range close sets the stage for a steady opening on Wednesday.

However, the door is open for a possible test of December's low crossing at $35.13.

Closes above the 10 day moving average crossing at $42.82 would confirm that a short term low has been posted.

Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term.

First resistance...

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February Crude Oil Commentary For Trader Planet Traders - Tuesday Morning

Ray Parrish — Tue, 13 Jan 2009 14:21:52 +0000

February crude oil was lower overnight as it extends this month's decline.

Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term.

If February extends this month's decline, December's low crossing at $35.13 is the next downside target.

Closes above the 10 day moving average crossing at $42.65 would signal that a short term low has likely been posted.

Closes above last Tuesday's high crossing at $50.47 are needed to renew the rally off December's low....

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Crude Oil market Commentary For Trader Planet Traders - Monday Evening

Ray Parrish — Tue, 13 Jan 2009 01:15:42 +0000

February crude oil closed down $3.07 at $37.76 a barrel today.

Prices closed near the session low and hit a fresh two-week low today, amid a firmer U.S. dollar and more recent dour world economic data that suggests less demand for energy worldwide.

Bears still have the overall near term technical advantage and have regained downside momentum recently.

Prices remain in a six month old downtrend on the daily bar chart.

For more crude oil trading news check out our blog at http://crudeoiltrader.blog...

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Crude Oil Market Commentary For Trader Planet Traders - Monday Morning

Ray Parrish — Mon, 12 Jan 2009 13:50:36 +0000

February crude oil was lower overnight as it extends last Thursday's decline below the 10 day moving average.

Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near term.

If February extends last week's decline, December's low crossing at $35.13 is the next downside target.

Closes above last Tuesday's high crossing at $50.47 are needed to renew the rally off December's low.

First resistance is the 10 day moving average crossing at $43.12.

Second resistance is...

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Crude Oil Market Commentary For Trader Planet Traders - Friday Evening

Ray Parrish — Sat, 10 Jan 2009 01:48:28 +0000

February crude oil closed lower on Friday as it extended Thursday's breakout below the 10 day moving average crossing at $42.98.

Today's low range close sets the stage for a steady opening on Monday.

The door is open for additional weakness and a possible test of last week's low.

Closes below last Wednesday's low crossing at $36.94 would temper the near term friendly outlook in the market.

Stochastics and the RSI have turned bearish signaling that sideways to lower prices are possible near term.

I...

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Crude Oil Market Commentary for Trader Planet Traders - Friday Morning

Ray Parrish — Fri, 09 Jan 2009 14:13:35 +0000

February crude oil was steady to lower overnight as it extends Thursday's decline below the 10 day moving average thereby tempering the near term friendly outlook in the market.

Stochastics and the RSI have turned bearish signaling that sideways to lower prices are possible near term.

If February extends this week's decline, December's low crossing at $35.13 is the next downside target.

Closes above Tuesday's high crossing at $50.47 are needed to renew the rally off December's low.

First resistan...

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Crude Oil Market Commentary For Trader Planet Traders - Thursday Evening

Ray Parrish — Fri, 09 Jan 2009 02:09:20 +0000

February crude oil closed lower on Thursday and below the 10 day moving average crossing at $42.47 signaling that additional weakness is possible near term.

Closes below last Wednesday's low crossing at $36.94 would temper the near term friendly outlook in the market.

Today's mid range close sets the stage for a steady opening on Friday.

Stochastics and the RSI are turning neutral signaling that sideways to lower prices are possible near term.

If February extends this month's rally, the reaction ...

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Crude Oil Market Commentary For Trader Planet Traders - Thursday Morning

Ray Parrish — Thu, 08 Jan 2009 14:04:40 +0000

February crude oil was steady to slightly higher overnight due to short covering as it consolidates some of Wednesday's decline.

Stochastics and the RSI are turning neutral hinting that a short term top might be in or is near.

If February extends the rally off December's low, the reaction high crossing at 52.95 is the next upside target.

Closes below last Wednesday's low crossing at 36.94 would temper the near-term friendly outlook in the market.

First resistance is Tuesday's high crossing at 50....

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Crude Oil market Commentary For Trader Planet Traders - Wednesday Evening

Ray Parrish — Thu, 08 Jan 2009 01:44:26 +0000

February crude oil closed sharply lower on Wednesday due to profit taking as it consolidated some of the rally off December's low.

Today's low range close sets the stage for a steady to lower opening on Thursday.

Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near term.

If February extends this month's rally, the reaction high crossing at $52.95 is the next upside target.

Closes above the reaction high crossing at $52.95 are needed to confi...

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