Note: this guest article provided courtesy of ForexTraders.com Global demand for oil is set to rise in 2011 as the economic recovery continues to remain strong in developed nations, and emerging market economies continue to grow. In early 2011, economic data out of the United States has reassured investors that the recovery remains robust. Employment [...]

It’s time for another crude oil price update!  After hitting resistance again around the $80 – 82 level, it’s come all the way back to the $70 level which is a critical level of support.  It happens to be the 200 day moving average as well.  If crude closes below the $70 level, it could [...]

The price of crude recently hit the first level of support around $70 and sprung off that level with some gusto as we approach the end of 2009.  It’s getting back up to the $80 level as terror concerns, Iran protests and Russia supply threats raise supply concerns heading into the new year. Antigovernment protests [...]