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 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

What's been said:

Discussions found on the web:
  1. Imran Hashim commented on Dec 15

    How is change Super&High Speed Diesel price ?

    AND

    In which website change the rates above the time ?

  2. The Big Picture commented on May 7

    Flashback: Oil prices

    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…

  3. The Big Picture commented on May 7

    Flashback: Oil prices

    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…

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