Crude Oil Spread Betting, 21 Jan 08

Category: Finance, Financial Planning.

Spread Trading, 23 Jan 08. Capital Spreads Account holders have found these levels comfortable enough to take out new long positions expecting a possible attempt at the$ 100 level in the coming weeks.

Crude Oil prices remain depressed( to the extent that they are still only in the high$ 80s rather than the$ 90s) . With inventory data out at 15h30 today, the oil markets will be closely watched. With Crude Oil beginning to slip we might expect some breaking of ranks in OPEC as producers try to sell as much of the black stuff at these high prices as possible. Crude Oil Spread Betting, 21 Jan 08. In the final account there is not much love lost or agreement between the Oil producing nations( apart from a general dislike of the US) . Crude Oil Spread Betting Comment, 18 Jan 08. So unless there is some increased political tension traders are beginning to put a toe into the sell side for a change.

Crude Oil is weaker( although up a tad this morning) as the lack of any actual bad news weighs on the long positions. To the upside the obvious target remains$ 100 but the March contract high is actually just around$ 98 and there is growing resistance to moves above$ 97 Crude Oil Spread Betting Comment, 14 Jan 08. We seem to have found some support at$ 830 in the Brent Crude Oil March contract but if this goes traders will be eying the crucial$ 830 level which held once in November and twice in December. As mentioned last week, Crude Oil Spread Betting is struggling at the top end of the range as supply continues at the higher end and political friction seems somehow to be not as bad as feared. Will this be a year of falling gas prices? This morning Brent Crude is called a few cents higher at$ 930- $935 and we are now some$ 8 off the highs of the New Year.

We must now watch for a series of supports at$ 830, $820 and$ 84If we break these and close lower then the oil bears may finally have something to get their teeth into. The bulls however will be hoping for: a) some US/ Iran dispute, and/ or. b) a renewed problem in Nigeria, and/ or. c) a renewed problem in Pakistan, and/ or. d) some sign that the world economy is not indicating a slowdown.

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