Author: ChartWhiz

Last week’s action was definitely mixed as the market reversed the prior week’s losses early on rallying to $72.90, but failed by week’s end on a sharp spike down that closed below the $70.00 mark for the...

Crude oil prices at the energy complex last week swung rather wildly between key technical support and resistance with mixed economic and fundamental factors fueling the end to end action.  As trade early in the week...

Crude oil futures reversed off its weekly low at $65.23 set last Monday to end the week sharply higher mainly on optimism for oil demand generated by strength in the equities markets and a weaker dollar.  The weekly...

Crude oil prices turned hard late last week off a technical double top at the yearly highs after a 2-week period of expected congestion within the $70.00 to 73.38 range.  During the 2 weeks, the market came close to $73.00...

Crude oil prices posted gains for the fourth straight week to start off the month of August closing at $70.93 last week, $1.48 higher from the prior week.  Trading for the week was mostly sideways with wide fluctuations,...

Last week was highly volatile for oil as it marked the end of the month of July with the market down early in the week on fundamentals while technicals provided a clue into the strong finish that followed. The action began last...

Crude oil prices rallied for the second straight week on the New York Mercantile Exchange, shrugging off weak fundamentals, as the Bulls came storming back from a 2-week plunge earlier this month. The main driving force behind...

The market held a 6-month uptrend (6 M ^ TL) last week at the new benchmark support range from $60.00 to 58.00 and broke a minor 3-week downtrend that prompted a reversal of the prior plunge from $73.38 to 58.32. The bullish...

Crude oil prices fell for the fourth week in a row to its lowest level in six weeks at $58.72 while posting losses 4 out of 5 sessions last week. The market has been under pressure off of a classic double top pattern at the 2009...