Crude Oil Daily Outlook

By Roger Baettig | May 04 2012 9:59 AM

802×258

Sponsorship Link

CRUDE OIL closed sharply lower on Thursday and the lowrange close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are turning bearish signalling that sideways to lower prices are possible nearterm. If it extends today's decline, April's low crossing is the next downside target. Closes above Tuesday's high are needed to renew the rally off April's low.

More in Commodities

Global Fish Prices Hit Record Levels As Demand For Premium Seafood Spikes In China

Global Fish Prices Hit Record Levels As Demand For Premium Seafood Spikes In China

Gold Bubble For Real Says Societe Generale, Calling For $1,200/Oz. In Q4

Gold Bubble For Real Says Societe Generale, Calling For $1,200/Oz. In Q4

EU Regulators To Approve $8.2 Billion Merger of NYSE And ICE, Two Of World's Biggest Financial Exchanges: Report

EU Regulators To Approve $8.2 Billion Merger of NYSE And ICE, Two Of World's Biggest Financial Exchanges: Report

Recent Gold Slump Triggers Buying That Could Send Metal To $1,600 by year end: Analysts

Recent Gold Slump Triggers Buying That Could Send Metal To $1,600 by year end: Analysts

In Depth

Michael Hastings Conspiracy Theories: Car Accident And Dead Body Fuel Speculation On Reddit, Twitter

Michael Hastings Death: Conspiracy Theories Abound As Investigation Continues

Alaska Heat Wave: Are Record-Shattering Temperatures Another Sign Of 'Arctic Amplification'?

Alaska Bakes Amid Record-Shattering Heat

Oxygen On Mars, 4 Billion Years Ago: Geological Puzzle Gives Clues To Ancient Atmosphere

Mars Had Oxygen-Rich Atmosphere 4 Billion Years Ago: Study

Where Is Jimmy Hoffa Buried? Not In Former Farm In Detroit Suburb After 3-Day FBI Search [VIDEO]

Jimmy Hoffa's Body Not Found - Again

web counter