Author: ChartWhiz

Crude oil prices rallied early last week to new 2009 highs at $73.38 on dollar weakness and an attack on an oil pipeline by Nigerian militants, but failed to hold on to gains as the end of the 2nd Quarter ignited profit taking...

Crude oil prices on the NYMEX closed lower and beneath the $70.00 level at $69.16 for the second straight week since peaking at $73.23 on June 11 amid a technical top at the top of the 3-month uptrend channel, though the action...

The market snapped a 4-week win streak last week as the Bears took the reigns after a week long battle for control. Oil prices have experienced sharp swings since hitting a technical peak at the top of the 3-month uptrend...

The Bulls remained the dominant force in the market last week on the continued combination of strong technicals and fundamentals, sending crude oil to 7-month highs at $73.23/barrel at the NYMEX. Early technical action held the...

Crude oil prices topped the 7000 mark for the first time in six months to start off the month of June after surging more than 30% in May. The market participants continue to focus on bullish variables, such as a weaker dollar,...

Crude oil prices soared 30% in the month of May posting its biggest monthly gain in 10 years. After a brief dip into technical support at 6000-5800 to start things off, Bull forces took over controlling the action the entire...

Crude oil futures rose more than 8% last week, opening on it’s lows at 5600 on Monday and finishing strong on Friday at 6167 as the Bull camp had no fears of holding positions into the long holiday weekend. A multitude of...

The market snapped a 3-week winning streak last week as corrective profit taking kicked in off the psychological 6000 Resistance barrier. Crude prices gained more than 10% in the month of May off the 5000 level in a rally driven...

After six weeks of sideways congestion in which the Bears attempted to take the reigns, the Bulls came storming back last week with a technical blast through the 5466-5500 threshold and posted new 2009 highs and a 6-month high...

After another volatile week at the energy complex, crude oil prices finished strong hitting a 5-week high at 5365 on Friday and gaining $1.65 on the week to settle at 5320. The market was off sharply earlier in the week pulling...