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crudeoiltrader's Commentaries

Jan 13 2009

Crude Oil market Commentary For Trader Planet Traders - Monday Evening

by crudeoiltrader
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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.blogspot.com



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