Author: ChartWhiz

End of year profit taking last week sent commodities retreating from 2009 highs as Gold fell 50 dollars and Crude oil prices closed at the lowest level in 7-weeks at $75.47, down 0.8% on the week, since peaking at $82.00. ...

Crude oil prices ended lower for the abbreviated Thanksgiving week as the action early on fell just shy of the weekly downtrend line at the $80.00 level generating technical selling while fears of rising inventories exacerbated...

The oil market exhibited weakness once again at the crucial $80.00 to 80.50 resistance barrier resulting in a sharp turnover late last week with overall action remaining range bound for more than a month.  Oil has been...

The price of crude oil retreated from recent highs last week after struggling at the $80.00 to $81.00 technical resistance barrier fueled by rising inventories, weak demand, and lower consumer confidence.  Prices penetrated...

Oil prices swung in a wide range last week, rallying to a high of $81.06 off of a technical double bottom pattern at $76.55, only to fall back down as rally efforts peaked at the weekly downtrend line drawn from 2009 highs at...

Crude oil prices took a sharp turn last week, coming off of its yearly high at $82.00 and finishing lower for the first time in five weeks.  A multitude of factors contributed to the corrective turnover which began with a...

Oil prices rose for a second straight week to post fresh 4th Quarter highs at $72.55 as a frail dollar and economic optimism outweighed fundamental weakness while technical clues preceeded the rally.  Prices traded lower...

Crude Oil Year End Technical Outlook and Weekly Report As we embark on the tail end of the year, the 4th Quarter, the underlying trend for crude oil is up with yearly gains of just over $21.00.  For the first 2 Quarters,...