Oil Prices Approaching Resisitance

Wednesday, November 12, 2003 | 07:21 AM

Crude prices are approaching a critical level; NYMEX Crude has -- quietly -- risen 15% since its early Autumn price of $27. Its now approaching critical resistance at its post-war highs near ~$32.25. If prices pop over that level, you could see a clear run towards $36-38. While I expect that unlikely to happen, if it did, it would be quite problematic.

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Source: WTRG Economics

We discussed earlier this month how Oil prices can be a leading directional indicator for the stock market.

If you are interested in energy issues, there is a terrific collection of charts, news and analysis at WTRG Economics. I found "The Coming Energy Crisis?" especially insightful. Check 'em out.


Link found via The Capital Spectator

Wednesday, November 12, 2003 | 07:21 AM | Permalink | Comments (1) | TrackBack (2)
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» Flashback: Oil prices from The Big Picture
Why do you come to this site? Cause o stuff like this: Oil Prices Approaching Resisitance Crude prices are approaching a critical level; NYMEX Crude has -- quietly -- risen 15% since its early Autumn price of $27. Its now approaching critical resistanc... [Read More]

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» Flashback: Oil prices from The Big Picture
Why do you come to this site? Cause o stuff like this: Oil Prices Approaching Resisitance Crude prices are approaching a critical level; NYMEX Crude has -- quietly -- risen 15% since its early Autumn price of $27. Its now approaching critical resistanc... [Read More]

Tracked on May 7, 2004 6:09:03 AM

Comments

How is change Super&High Speed Diesel price ?

AND

In which website change the rates above the time ?

Posted by: Imran Hashim | Dec 15, 2003 6:18:51 AM

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