Last week's oil stats were the catalyst for the continued sell off in the WTI June contract which saw the oil price fall to $90 per barrel, before bouncing back with strong volumes on Thursday and Friday to close above the $95 per barrel price point.

However, yesterday's price action on the daily chart has now…

Despite a deep pull-back on oil the larger trend remains down as recovery appears to be only in three waves, which ideally represents a black wave 4 that is part of a larger downtrend. As such, traders should be aware of a bearish reversal in this week, possibly from around 92.50 where we can see a very typical 38.2% retracement level of wave 3. Break of 90.75 swing would be the first evidence for weakness in black wave 5.

Oil 1h…

USD index recovered very sharply last week but don't let the strong rally trick you. The fact is that current sharp leg up could easily be wave C) of a flat correction in wave (B) which is unfolding already since September 2012. In fact, price is approaching to some very interesting resistance zone around 81.70-82.00 (61.8% Fibo) where bulls could slow down. As such, larger trend for this market remains down, but only impulsive weakness from that resistance and back to 80.30 figure can…

EURUSD

Attempting to bottom and make some headway to the upside, the EURUSD failed to clear the 1.2800 role reversal level which was the Oct. swing lows. For now, the pair is stuck between 1.2800 weekly highs and 1.2659 lows which was the pin bar rejection on Tuesday.  So bears can look to sell any weak rallies up to 1.2800 while bulls can…

Oil prices tumbled down during last week along with many other commodities rates such as gold and silver. The FOMC revised down its projection on the U.S economy and in an effort to help jump-start the economy extended its operation twist without adding another expanding stimulus plan This news may have been among the reasons for sharp fall of crude oil prices during last…


On the chart to the left, the first half of each month is shaded in light green. The US dollar index has been up during the first half of the past seven months, and down during the second half of the past four months.…

In the recent petroleum and crude oil weekly update of the Energy Information Administration petroleum, crude oil stockpiles rose again for the third consecutive week, last week by 12.36 million barrels. Oil prices didn't move much last week but they did tumble down during yesterday’s trading probably due to the shift in market sentiment regarding the possibility of making another…

Oil prices continue to moderately change with no clear direction as they are currently traded up. Today, the EIA will publish its US petroleum stocks report and natural gas report; ECB raised its rate by 0.25% to 1.5%y; and the U.S. unemployment claims will be released in anticipation for tomorrow's employment report.

For the complete Crude oil…