Trade Huge

Crude oil prices remain firm to close for the last week of Feb. The prices of crude oil ranged from $71-$82 for the month of Feb 2010. There is upcoming Opec Meeting on 17th of March 2010 at Vienna, Austria. This is a very  important event of the month for crude oil traders.

Crude oil falling , finally breaks $60 mark today, in last 5 trading sessions it has lost $7, so about 12% fall.

Oil has risen from $35 to $72, $50 mark is the next to watch out for, though it should stay above $50 level, possiblity of breaking it is low.

Currently trading at $59.40 , made a low of $59.28 in trading session today.

Crude oil is been sliding downwards with recession worries developing intense globally. It has moved lower than $64 mark in trade session today, it had made a high of $73 in the month of june, since then its come one way down with minor upward movements.

Oil Prices have been going up constantly since last 2 months, from the levels of $44 reaching up to $73 gradually, currently need to watch out at what level oil consolidates, $60 seems to be the mark to look out for.

Gold started well in the start of month of june , touched a high of $990 / oz , it tried to stay at levels above $980 lot of selling at higher levels pushed the prices down.

It started to slide more quicker and in a day it had movement of $980 to $955 a huge sell off, continuing with the downward movement gold made a low today of $913.50 this is the lowest gold price this month.

Gold charts has formed a steap mountain going upward initially this month and coming down sharply. About 7 days left for the month will watch out the closing of gold price for this month. Traders should wait for the right time to enter to purchase gold.

World markets see some profits being booked on the 1st day of trade, 2nd week of march

Usa Markets 

Dow jones down by 125 points, trading at 8450 levels. Financial, Energy stocks have been hit hardest in this fall.

European markets down marginally

• Ftse : 26 points lower ( trading at 4435 )
• Dax : 46 points lower ( trading at 4866 )
• Cac : 63 points lower ( trading at 3248 )

Asian markets saw slide downwards 

• Hang Seng down by 300 points ( closed at 17087)
• Nikkei remained strong with marginal upside of 20 points ( closed days trade at 9452)
• Straits Times index down about 72 points. ( closed day trade at 2166
• Bse down by 193 points ( closed days trade at 11682)

Commodities

• Gold trading at level between $909 – $917.
• Crude oil trading at range $56.81 – $58.56
• Silver trading at range $13.71 – $14.00
• Copper futures trading at range $208 – $214.15

Gold trading above $900 it closed at $913 on friday ,after staying in a range of $850 – 895 , last 3 days of the week it gained constantly , volatility has increased in last few trading sessions gold prices have increased, there is more movement compared to last few weeks of trading.

It will be interesting to see if gold can touch new highs from its earlier high of $990 this year and reach to 4 figures.

The average annual appreciation of gold from last 8 years is 16% , though its more wise to keep gold for longer term then trading in it, as appreciation rate fluctuates and trading for short term appreciation without stop loss can be dangerous.

Crude oil trading in a range, between $52.25 at the lower side and $53.75 at higher side. Last. Last one month chart for crude oil shows constant rise in the price from $44 levels to $53.75, almost gain of 20% in 20 days. Daily crude oil chart shows that its moving up slow and steady with corrections at intervals. 

Some of the factors for rise in crude oil prices are 

• Improvement in world economy as they bounced back from its lows
• Cut in oil production leading to more demand of oil.

Gold prices goes upto to  $832 levels, it was struggling to get above $830, finally broke it, made a high of $842 intra It fell one way from $841 to $835.40 in matter of just 10 minutes., falling further it went down to $833 . Traders be careful while trading as movement is very very volatile, stop losses would be triggered very quick.

Intra day high $842

Intra day low $821

Gold trading at $771 , made a high of $772, price going up due to drop in usa dollar prices.

Oil breaks $51 mark, constant selling pressure , weak enonomies around the world leading to this fall, now it seems that crude oil prices look oversold, it fell quickly from $52 levels. Just important to watch if it breaches $50 mark.