WTI Oil Price

[dan_s]

WTI closing below the $96 support level is a bit of a concern. It did close above the low.

This may be a reaction to "calm" in Iraq that I don,t expect to last.

Demand for crude oil is soft right now but should pick up as we approach Q4.

[dan_s]

Watch this video
http://www.thestreet.com/story/12843845 ... _ven=YAHOO

[Lemonhawk]

Watched the video. He is unable to explain why the price is going down.

[Lemonhawk]

Question: On EPG home page the WTI price is shown as $97.59. Is that not real time?

[setliff]

see my post under picks and tips---

excess brent for a Europe going into a recession and a strong dollar, imo. we need cold winter in Europe. sanctions on Russia shoring up dollar, imo.

[dan_s]

Lemonhawk: The box on the EPG homepage is the previous days closing prices for oil and gas.

Use this for current prices: http://www.cmegroup.com/

You can also find the current price for crude oil on Yahoo Finance Home Page: http://finance.yahoo.com/

[mikelp]

There's a H&S pattern on the weekly chart for $WTIC, left shoulder- (Sep-2012 ~ $100); Head-(Sep-2013 ~ $110); rt shoulder- (Jun-2014 ~ $107); neckline from July-2012 to present. Looks like a key support level here for WTI. Those "shoulder season blues" are playing again.

http://stockcharts.com/h-sc/ui