The crude oil market broke down below yesterdays inside day trading range in overnight action and fell to a new low for the move. The market has been able to rebound during the
initial morning hours, helped by a bounce in European equity markets and pullback in the USD. Continue Reading…

Overnight gains in June crude oil evaporated heading into the US open, pressured by uncertainty surrounding Greece and as fears over a European debt contagion drive market direction. Continue Reading…

June crude oil prices began the Tuesday evening trade with a gap lower open and continued to fall to their lowest level since early November. A number of factors have contributed to the $14.60 break from the May 1st peak to the overnight low, including uncertainty over the European debt situation and signs of slowing global growth. Continue Reading…

June crude oil took on a slightly higher track during the initial morning hours as it attempted to correct the recent downslide. June crude oil prices slipped 12.0% from their May 1st high into yesterday’s low and test of the December low of $93.40. Continue Reading…

June crude oil had a gap lower open Sunday evening and has since broken down below last week’s trading range. The outside market tone has been the primary source of weakness for the crude oil market this morning, with speculation that Greece might be leaving the Eurozone, as well as rising borrowing costs in Spain and Italy. Continue Reading…

Hedge funds and other large investors cut bullish bets on rising commodity prices by the most since November as risk-off sentiment in the wake of the Greek election eased the appetite for higher risk assets. Continue Reading…

(94,26) CRUDE OIL confirmed further weakness plunging even below 95 on the way for a test of teh 90 level, now our s/t target. The weekly closing was weak well below the low of the previous week that was already a negative outside week. Continue Reading…

Gold is reaching a key pivot point that will dictate its medium to long-term technical outlook (and probably for macro markets as well). USD1,522 represents a crucial support for two Elliott Wave counts. Holding as support will be bullish evidence but breaking will shift the probabilities in favour of our preferred scenario: a fall towards USD1,200. Continue Reading…

June crude oil began the overnight trade with a gap lower open and drive to the bottom-end of this week’s trading range. Risk-appetites came under pressure Thursday evening following comments that JP Morgan had incurred a $2.0 billion hedge-related trading loss. Continue Reading…

June crude oil prices were under pressure during the initial morning hours and in the process of extending their losing streak to six days. The crude oil market faces a weak macroeconomic tone, ample global supplies and expectations for a further weekly build in US inventories. Continue Reading…