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

Category: Finance

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

3 Responses to “Oil Prices Approaching Resisitance”

  1. Imran Hashim says:

    How is change Super&High Speed Diesel price ?

    AND

    In which website change the rates above the time ?

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    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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    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…