crude oil

February crude oil closed higher on Friday as it extended Wednesday's rally above the 20 day moving average crossing at 43.46. Today's high range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near term. Closes above the reaction high crossing at 52.95 are needed to confirm that a short term low has been posted. Closes below Wednesday's low crossing at 36.94 would temper the near term friendly outlook in the market. If February renews this year's decline, support crossing at 35.00 is the next downside target. First resistance is today's high crossing at 46.74. Second resistance is the reaction high crossing at 52.95. First support is the 10 day moving average crossing at 40.54. Second support is Wednesday's low crossing at 36.94.

Byron King "Could Oil Be Headed Back To The $30's"?

Byron King, editor of Outstanding Investments, gives us his spin on weather oil can turn this current spike in prices around and head back to the $30.00 dollar range.

February Crude Oil Market Commentary For Friday Morning

February crude oil was lower overnight due to profit taking as it consolidates some of Wednesday's rally and is trading below the 20 day moving average crossing at 43.27. However, stochastics and the RSI are bullish signaling that sideways to higher prices are possible near term. If February extends Wednesday's rally, the reaction high crossing at 52.95 is the next upside target. Closes below Wednesday's low crossing at 36.94 would temper the near term gains. First resistance is Wednesday's high crossing at 45.54. Second resistance is the reaction high crossing at 52.95. First support is Wednesday's low crossing at 36.94. Second support is December's low crossing at 35.13.

Crude Oil Surges Into The New Year

OpVest CEO Andre Julian gives us his take on the rise of crude oil as we welcome the New Year.

How Can You Profit From Crude Oil's Comeback

One of favorite oil analyst is Oppenheimer's Fadel Gheit. Naureen Malik of Barron's talks with Fadel about what he thinks we can expect of crude oil and natural-gas prices in 2009.

February Crude Oil Market Commentary For Wednesday Evening

February crude oil closed sharply higher on Wednesday and spiked above the 20-day moving average crossing at 43.52. The end of year rally was triggered by ideas that the worst of the decline in oil demand is now behind us. Today's high range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI have turned bullish hinting that a short term low might be in or is near. Closes above the reaction high crossing at 52.95 are needed to confirm that a short term low has been posted. If February extends this year's decline, support crossing at 35.00 is the next downside target. First resistance is today's high crossing at 45.54. Second resistance is the reaction high crossing at 52.95. First support is last Wednesday's low crossing at 35.13. Second support is psychological support crossing at 35.00.

February Crude Oil Commentary For Wednesday Morning

February crude oil was lower overnight as it consolidates some of Monday's rally. Stochastics and the RSI are oversold but are turning bullish hinting that a short term low might be in or is near. Closes above the 20 day moving average crossing at 43.22 are needed to confirm that a short term low has been posted. If February extends last week's decline, psychological support crossing at 35.00 is the next downside target. First resistance is the 10 day moving average crossing at 39.69. Second resistance is the 20 day moving average crossing at 43.22. First support is last Wednesday's low crossing at 35.13. Second support is psychological support crossing at 35.00.

February Crude Oil Market Commentary For Tuesday Evening

February crude oil posted an inside day with a lower close on Tuesday ending a two day short covering bounce. Today's mid range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are oversold but are turning bullish hinting that a short term low might be in or is near. Closes above the reaction high crossing at 52.95 are needed to confirm that a short term low has been posted. If February extends this year's decline, support crossing at 35.00 is the next downside target. First resistance is Monday's high crossing at 42.20. Second resistance is the 20 day moving average crossing at 43.79. First support is last Wednesday's low crossing at 35.13. Second support is psychological support crossing at 35.00.

February Crude Oil Market Commentary For Tuesday Morning

February crude oil was lower overnight as it consolidates some of Monday's rally. Stochastics and the RSI are oversold and are turning bullish hinting that a short term low might be in or is near. Closes above the 20 day moving average crossing at 43.80 are needed to confirm that a short term low has been posted. If February extends last week's decline, psychological support crossing at 35.00 is the next downside target. First resistance is the 10 day moving average crossing at 40.66. Second resistance is the 20 day moving average crossing at 43.80. First support is last Wednesday's low crossing at 35.13. Second support is psychological support crossing at 35.00.