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Commodities Briefing - Categorized | Oil, Price Watch, Trends more

Oil prices set for a breakout, but which way will they go?

Posted on 26 March 2013

Oil prices have been relatively strong in recent times despite the economic weakness in Europe and North America. But as this week’s monthly oil price futures chart from certified financial technician and councillor with the Australian Technical Analysts Association Mark Umansky shows, it has been trading in an ever-narrowing band since January 2009.
Oil reached a high of $US140 a barrel in June 2008, just before the global financial crisis really hit home with the collapse of Lehman Brothers. Then it fell for seven straight months to reach lows close to $US40 a barrel, under the influence of the intensifying recession and fears that China’s economy might collapse………………………………………..Full Article: Source


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VRS - who has written 37608 posts on Opalesque Commodities Briefing.


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