This week, new records were recorded on Wall Street. This time it was the Dow Jones Industrial Average which broke the 23,000 points mark. Oil continued the upward trend that began in recent weeks, mainly due to two reasons: The first is the appeal made last week to the oil shale producers to adjust its… Continue reading On the Global Front
There was a decent upside move in Crude oil price after a decline towards $41.85 level against the US Dollar. The price has formed a support and started trading higher above $42. There was a close above the 23.6% Fib retracement level of the last decline from the $45.25 high to $41.84 low. The price… Continue reading Crude Oil Price Slowly Recovering
Crude oil price after rising above the $52 level against the US Dollar failed to hold gains and started a downside move. The price declined towards $48.00, and formed a support base near $47.90. However, it is struggling to hold the stated level and remains at a risk of a break towards $47.50, which is… Continue reading Crude Oil About To Decline Further?