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.

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.

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.

Still worst times for oil, its been making new lows almost every day now, $50 is very cucial support level, should see some pull back in recent times, its been one way down trend for oil from last 2 weeks. Currently oil is trading at $54.27 levels.