mynameisandhy Posted September 14, 2011 Author Report Share Posted September 14, 2011 Gold-induced weakness dragged the stock and commodity markets Wednesday, September 14, 2011 Gold corrected after the stock market and commodities slumped due to the reluctance of China to save the country's debt ridden. Gold for immediate delivery fell 0.7% to as low as U.S. $ 1821.05 at 3:05 pm in Singapore, erasing a rally of 0.6% that occurred previously. Meanwhile, gold futures for December delivery fell 0.4% to U.S. $ 1,823.50 per troy once, after rising 1%. Regional stock index MSCI Asia Pacific fell to its lowest close in a year. The trigger, statement of Chinese Premier Wen Jiabao calling for indebted countries not to rely on bailouts from China. The statement raised fears of Europe's debt crisis will hurt global economic growth. As a result, prices of commodities ranging from oil to copper fell today. Investors often sell gold to cover losses in other markets. In addition, gold is eroded because these days the U.S. dollar rose against most major world currencies. Richard O'Brien, CEO of Newmont Mining Corp.. estimates, there will be a lot of volatility in the gold market. Ride, but volatile. "But, do little correction. The continuing concerns over the crisis in Europe will be the cause of higher gold prices," he said, today. "Gold will be traded more like a currency, not like a commodity," said O'Brien. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 15, 2011 Author Report Share Posted September 15, 2011 End of the Year, Gold Surpasses $ 2,000 Thursday, September 15, 2011 Projected Gold price movements in the future is interesting to observe. Various predictions and hopes for a long time made a lot of parties, but it takes time to prove it. Like what is predicted by some analysts GFMS Thomson Reuters. They called the price of gold will be above $ 2000 per ounce by the end of 2011. But the Thomson Reuters analyst team recognizes that these predictions are too conservative for some investors. "Investors should remember that at the beginning of the year seen some profit taking when the price is saturated and the stock is still enjoying the moment of rising," said Philip Klapwijk, an analyst at Thomson Reuters. European debt problems and economic slowdown led investors into safe-haven assets. The volume of gold holdings for investment purposes should ideally reach 1.000 metric tons in the second half. The amount is equivalent to a value of $ 60 billion if the average gold price of $ 1.815 is assumed throughout that period. Furthermore, central banks across the country also supported the surge in prices. Volume purchasing authority of the government has already recorded more than 200 metric tons in the first half, or more than two times higher than the record of the year 2010. While buying gold for jewelry is also still rising even though prices are high. Sales of gold jewelry first half rose 7.5% compared to last year. Though the price jumped to 25% in the period. On the other hand, the mining production grew 4.9% in the half year and has the potential to rise again. "The increase in production volume is a reminder that the increase has not been solid in the medium and long term," an analyst close to Thomson Reuters. This commodity will not be immune from the small corrections of any new increase. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 16, 2011 Author Report Share Posted September 16, 2011 Gold Still Sluggish, decline in demand Friday, September 16, 2011 Price movements of gold for this afternoon (16 / 9) terpantai weakened. Negative trend resumed after more investors have invested a majority into the stock market strengthened due to positive expectations about the European economic recovery supported by the support of the European Union and the ECB. Spot gold fell by 1.4% to 1762.68 dollars per troy ounce with the support level at 1762.49 dollars per troy ounce and resistant level at 1782.96 dollars per troy ounce. The weakening of the movement of gold also followed by a weakening of commodity metals such as silver which fell 0.3% to 39.70 dollars per troy ounce, platinum fell 0.7% to 1798.47 dollars per troy ounce and palladium fell 1.1% to 733 , 25 dollars per troy ounce. According to the analysis of the Division of Research in Vibiz Vibiz Consulting, the gold price movement is expected to be still engaged in negative territory and potentially weakened for this evening. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 19, 2011 Author Report Share Posted September 19, 2011 Oil Demand Outlook worry Monday, September 19, 2011 Oil fell as investors worried about the outlook for energy demand after the meeting failed to produce a policy for the European solve the debt crisis of the euro-zone. "The financial markets want the right policies and quick to handle the debt crisis of Europe, but they do not get it. Sentiment was compounded by weak economic activity," said Christophe Barret, head of Credit Agricole research. Secretary General of OPEC, Abdalla El-Badri, state fiscal problems of Europe and the high U.S. unemployment will limit growth in world oil demand. Investors waiting for the results of the federal Reserve's meeting on 20-21 September and the meeting of G20 finance ministers on 22 September to look for clues whether policy makers will act to restore market confidence. Analysts also see the development of Libya's production over the approach of winter in the northern hemisphere. "The recent news may be able to show Libya's oil production by 200,000 barrels per day by the end of this month," said Barrett. Meanwhile, technical analysts by Reuters, Wang Tao set $ 85.52 as oil bearish target. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 20, 2011 Author Report Share Posted September 20, 2011 Light Crude Oil Up, Investors pursue positions Tuesday, September 20, 2011 Crude oil price movements to trading this afternoon (20 / 9) observed an increase. After being corrected this morning due to pressure from credit rating reports decline in Italy for the month of August, which brings a negative outlook for the U.S. economy. Now the movement of oil regained some strength by the expectations about the decline in U.S. crude oil inventories for last week which will be released tomorrow. In addition, the rise in oil prices also triggered by the presence of position-taking by investors ahead of Fed meeting to be held on the following day. Opportunities rise in oil prices since investors will still have to wait for the Fed to issue a policy response that solutif in reducing the ongoing economic slowdown. Crude oil futures rose by 70 cents to 86.40 dollars per barrel, while Brent crude rose 69 cents to 109.83 dollars per barrel. According to the analysis of the Division of Research in Vibiz Vibiz Consulting, the movement of oil prices is expected to move still limited by the support level of 85.25 dollars per barrel and resistant level of 87.02 dollars per barrel. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 21, 2011 Author Report Share Posted September 21, 2011 IMF warning overshadowed Oil Wednesday, September 21, 2011 Oil prices steady in London session, bolstered by optimism the Fed will announce a policy for the U.S. economy passionate. However, the increase is limited by the IMF warning that the U.S. and Europe may experience a recession again. Rising oil reserves, the API version, also impose on the performance of the oil. "It's hard to maintain positions amid global economic uncertainties," said Tetsu Emori, fund manager Astmax. "The market wants to know the plan the Fed to prop the U.S. economic recovery." Fed expected to announce the operation twist to maintain the level of long-term rates at low levels. The market also wanted to see the reaction of the Fed's Bernanke after the IMF warned the U.S. and Europe could experience a recession next year unless it can be overcome its economic problems. Data API (American Petroleum Institute) show the increase of oil reserves as many as 2.57 million barrels last week. Investors are now waiting for data U.S. Department of Energy petroleum inventories at 2130 GMT which predicted decreased by 1.6 million barrels. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 22, 2011 Author Report Share Posted September 22, 2011 Dollar Rally, Gold Continue Correction Thursday, September 22, 2011 Spot gold slipped on Thursday under pressure from the dollar rally, after falling more than 1% in the previous session when the U.S. Federal Reserve announced a plan to fill the long-term securities and offers a bleak economic outlook. Warning of the risk of economic decline "significantly", the U.S. central bank said it would launch a $ 400 billion program to shift the $ 2.85 trillion balance towards more long-term debt. Tersbeut decision disappointing investors who had hoped a strong stimulus measures, lead to a reduction in stocks and commodity prices. Concerns about the euro zone debt crisis continues to support the appeal of gold as a safe haven, but the momentum still looks less for gold bars to reach a record high above $ 1900. "For the short term, gold will likely remain in the range of $ 1,750 and $ 1,850," said Ong Yi Ling, an analyst at Phillip Futures, according to Reuters quoted. Spot gold lost 0.4% to $ 1,772.10 at 13.20WIB according Mahadana platform, extending the 1.2% decline the previous session. U.S. gold futures contract most actively dropped as much as 2% to $ 1,772.5, before recovering back to $ 1,777.30. Investors turned their attention to the G-20 talks, which will take place in Washington on Thursday and Friday, with Europe will be under severe pressure to stem the debt crisis deepened. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 23, 2011 Author Report Share Posted September 23, 2011 Gold sales drop to 1-Month Low Point Below $ 1,700 Friday, September 23, 2011 Golden Touch 1-month lows on Friday and posted its biggest weekly decline since May, hit by commodities sell-off triggered by the liquidation of assets to cover losses in other sectors. Monitored by far the spot price of gold has fallen -2.70% to as low as $ 1,693.52, after reaching its lowest point today at $ 1692.10. Investors are apparently still waiting for global economic development before finally buying gold again, due to wild fluctuations in the market of late raises alertness. Earlier this month, Gold had won a record level of $ 1920, but in this week Gold has dropped more than 4 percent and posted the worst weekly decline due to deterioration of investor confidence. Although there are still many people who see the opportunity buy gold on dips, however difficult the possibility of a technical rebound towards the $ 1,920 in the near future. Gold Support is located in an area next $ 1687.50 & $ 1650.00. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 26, 2011 Author Report Share Posted September 26, 2011 Gold Continues sluggish, hit Strengthening Dollar Monday, September 26, 2011 Price movements of gold for this afternoon (26 / 9) was recorded as having impairment. Gold is still weakened by the impact of the strengthening U.S. dollar against the currencies of the majority and also the European economic outlook is still negative as feared would affect the demand for gold in the region in the short term. Spot gold fell by 4.7% to 1563.4 dollars per troy ounce with the support level at 1532.54 dollars per troy ounce and resistant level at 1664.70 dollars per troy ounce. The weakening of the movement of gold followed by silver also fell 13% to 26.15 dollars per troy ounce, while platinum slipped to the position of 1463.99 dollars per troy ounce, or its lowest level since May 2010. According to the analysis of the Division of Research in Vibiz Vibiz Consulting, the gold price movement is expected to be still more likely to weaken and do not rule out going to touch the level of 1550 dollars per troy ounce. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 27, 2011 Author Report Share Posted September 27, 2011 Oil re-mastered Area $ 82 per Barrel Tuesday, September 27, 2011 Crude oil managed to rally to above $ 82 per barrel on Tuesday as investor sentiment improved on the assets that are considered more risky as stocks and commodities. Crude oil for November delivery rose more than $ 2 to trade in the range of $ 82.40 per barrel. "The main factor that raised the price of oil today is the improvement in sentiment in financial markets, which is reflected in an increase in the stock market and a weakening U.S. dollar," said an analyst at Commerzbank. "Even so, the risks to the economy and oil demand has not really gone, so the potential fall back in oil prices still remain." Concerns of investors against the risk of recession in the U.S. and in Europe prolonged debt crisis has triggered turmoil in global markets since late July. So, during the absence of a proper solution to these problems, any increase in oil will only bring potential new reductions. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 28, 2011 Author Report Share Posted September 28, 2011 Gold Start Stable Above $ 1650 Wednesday, September 28, 2011 Gold and silver finally stabilized on Wednesday as traders wait n see attitude after experiencing strong price swings in recent days. Observed so far for the month of December gold contract crept up 0.18% to as low as $ 1,653 per troy ounce, the highest point at $ 1,669 while the lowest level today at $ 1,631.93. Most analysts see a rise in interest in physical gold buying when prices fell quite sharply, especially in India reported higher demand. However the increase has begun limited because the German finance minister's comments as saying that the bailout fund additional capacity at level 2 or 3 trillion trillion euros less realistic, this gives a signal that the voting results of the German parliament tomorrow EFSF bailout fund related capacity is still difficult to expand too big . Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 29, 2011 Author Report Share Posted September 29, 2011 Gold Rally Stay away $ 1600 Thanks to Optimism Thursday, September 29, 2011 In afternoon trading session in Asia, the price of gold back after yesterday's rise from the ground up this precious metal dropped to below $ 1.600/troy translucent oz. Until this news was sent down Gold moves recorded in the range of $ 1,622 (Thursday, 9.29) after the morning session was still stuck at the level of $ 1,584.60. Gold surges mainly thanks to increased optimism on the progress of the efforts of the Europeans to overcome the debt crisis. Rally in gold prices is also related to physical gold among investors remained unconvinced that the recent selloff has removed the status of safe-haven in gold. As a result when an attempt to heal the crisis of the euro zone government debt held, gold was still able to rally even if there is indiscriminate selling in risky assets. U.S. dollars and gold can rally together if the market grew restless. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted September 30, 2011 Author Report Share Posted September 30, 2011 Thin Gold Up, Speculation Regarding Bail Out Greece Friday, September 30, 2011 Like the movement of crude oil, gold prices to trade this afternoon (30 / 9) also had a thin movement. Gold edged up after the speculation that this weekend there will be limited to meetings between European leaders to pass bailout policies on the economy of Greece. Strengthening of gold is also still influenced by the presence of speculation rising demand for jewelry in India in line with the festival of lights is accompanied by a proliferation of marriage. Current spot gold rose by 12.4 dollars to 1626.45 dollars per troy ounce with the support level at 1603.95 dollars per troy ounce and resistant level at 1640.75 dollars per troy ounce. According to the analysis of the Division of Research in Vibiz Vibiz Consulting, the gold price movement is expected to rise still thin and tend to move is limited until the end of this week's trading. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted October 5, 2011 Author Report Share Posted October 5, 2011 Investors re-make of Gold As Safe Haven Commodities Wednesday, October 5, 2011 The price of gold to trade this afternoon (5 / 10) recorded an increase. Although no significant increase, plus the price of gold is still considered to be influenced by an increase in demand for gold as a safe haven after the day it was reported that Italy's credit rating dropped back to last September. Another factor affecting the increase in gold is the prediction of the Swiss Bank stating that gold demand in Asia will continue to rise until the end of this month. The need for jewelry is still quite high due to the increasing number of marriages in India. Spot gold fell by 12.1 dollars to 1628.1 dollars per troy ounce with the support level at 1600.9 dollars per troy ounce and resistant level at 1630.6 dollars per troy ounce. According to the analysis of the Division of Research in Vibiz Vibiz Consulting, the gold price movement is expected to rise still thin. The range between the level of 1620 - 1650 dollars per troy ounce range that would be logical for the current gold price movements. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted October 6, 2011 Author Report Share Posted October 6, 2011 Gold Back Uphill In London Thursday, October 6, 2011 Gold futures climbed back in London. At 08:44 London time, the price of gold contracts for quick delivery rose 0.3% to U.S. $ 1,646.25 per troy ounce. Earlier, gold prices rose 0.6% and down 0.4%. While the price of gold contract for December delivery rose 0.3% to U.S. $ 1,646.80 per troy ounce. Just for additional information, since hitting a record high at U.S. $ 1921.15 on September 6, the contract price of gold has dropped 12%. The reason, investors dumped the gold to cover losses on other assets. Well, the surge in gold prices that occurred this day happen as speculation that Europe's debt crisis can not be resolved. Conditions that boosted the level of demand for gold as a protection of wealth. "Until the end of the year, we predict gold prices will continue to climb. We will see the gold price could reach U.S. $ 2,000. However, I predict gold prices above those levels. We have many reasons to believe it," said David Baker, managing partner of Baker Steel Capital Managers LLP. Meanwhile, David Hemming from Hermes Investment Management Ltd predicts, the contract price of gold could rise to the position of U.S. $ 1,850 per troy ounce in December. "We are predicting gold prices as worries about Europe. European debt problem difficult to overcome in the short term," explains Hemming. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted October 7, 2011 Author Report Share Posted October 7, 2011 Gold is still up, ahead of U.S. Labor Data Release Friday, October 7, 2011 The price of gold to trade this afternoon (7 / 10) recorded an increase thin. The movement of gold tends creeping up again although it is not too significant since yesterday. Stimulation is not yet any certainty about the policy bailout for Greece to give an impetus that in fact the price of gold as a safe haven commodity. Current spot gold rose by 0.7% to 1653.2 dollars per troy ounce with the support level at 1631.39 dollars per ounce and the level of resistant Tory at 1665.79 dollars per troy ounce. The rise in gold also helped push the movement of other metal commodities like silver rose 5.4% to 32 dollars per troy ounce, platinum rose 1.7% to 1508.1 dollars per troy ounce and palladium rose 5% to 598.8 dollars per troy oz. According to the analysis of the Division of Research in Vibiz Vibiz Consulting, gold prices are expected to rise still more likely to range between 1650 - 1670 dollars per troy ounce for tonight to remember a while longer to be released U.S. employment data. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted October 10, 2011 Author Report Share Posted October 10, 2011 Gold Gains Above $ 1660 after the Treaty Merkel Sarkozy Monday, October 10, 2011 Gold rocketed more than 1.60% on Monday due to falling U.S. dollar against the euro after France and Germany promised to submit a proposal recapitalize banks, while market participants are tense waiting for details of the plan. German Chancellor Angela Merkel and French President Nicolas Sarkozy said on the day of the weekend that they are seeking new solutions to the problems of the Greek debt and recapitalize the banking sector. The news was greeted positively by traders after the precious metal prices slumped about 20 percent in September due to the strengthening U.S. dollar is quite sharp. So far the physical gold demand from China helped shore up prices, especially for long-term, while short-term movements are still mixed due to fluctuations in gold which is quite sharp cast doubts on the predicate safe-haven gold which usually has the character of low risk and low volatility. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted October 11, 2011 Author Report Share Posted October 11, 2011 OPEC Cuts Demand Forecast Tuesday, October 11, 2011 OPEC cut its oil demand forecast for the period 2011 and 2012 and warned that the outlook for demand could drop again amid global economic strain. In its monthly report, OPEC has reduced oil demand growth forecast for this year by 180,000 barrels per day due to global economic uncertainty and weakening outlook for China and India. OPEC Group also provides signals concerns over the imbalance of supply demand in the oil market. Overall oil demand is still growing to 900,000 barrels per day this year, while for 2012, demand growth was revised down by 70.000 barrels per day to a total of 1.2 million barrels per day. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted October 13, 2011 Author Report Share Posted October 13, 2011 Crude Oil Weakens, fuel demand in China Down Thursday, October 13, 2011 Crude oil price movements for this afternoon (13/10) recorded a weakening in line with the speculation about the decline in fuel demand in the U.S. and China. It is characterized by the presence of speculation about will rise in U.S. crude stocks data for the last week of 400 thousand barrels. At the same time, the number of Chinese fuel demand during the month of August were reported to have decreased by 30 thousand barrels to 4.92 million barrels to bring speculation China's economic weakness in the third quarter ago. Crude oil futures declined by 1.27% to 84.3 dollars per barrel. Meanwhile, Brent crude oil declined by 0.5% to 111.84 dollars per barrel. According to the analysis of the Division of Research in Vibiz Vibiz Consulting, crude oil price movements are expected to still potentially weakened by the support level of 84.12 dollars per barrel and resistnt level of 86.27 dollars per barrel. Investors will be waiting tonight predicted the release of U.S. jobless claims data. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted October 14, 2011 Author Report Share Posted October 14, 2011 Bloomberg Survey: Actors Market Still Bullish On Gold Friday, October 14, 2011 Gold prices turned positive after weakening Thursday but failed to penetrate beyond the trading range as the price of being detained by the U.S. dollar is still stable. Increase in the direction of Gold stock market trading continues strong enough correlation with risky assets such as the Euro and the opposite direction to the dollar. Strengthening Gold for the second consecutive day was triggered by worries European debt crisis and the increasing demand for physical gold ahead of religious festivals in India, on the whole Gold entered into the 11th year in a state of the bullish trend in the successive periods of the year, with record highs in the level $ 1,923 on September 6. Since reaching record highs, gold has dropped sharply to record the greatest attenuation of up to 20%, the biggest drop in 3 years. Looking ahead, according to a Bloomberg survey of most market participants still expect gold to strengthen next week, the last time the survey results show traders and analysts are very bullish, gold rocketed 21 percent to the point of all time highnya in 8 weeks. Some central banks also appear to accelerate the purchase of Gold, among others Thailand, Bolivia, and Tajikistan in total have been buying gold up to 18.2 tons, according to a recent IMF data. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted October 17, 2011 Author Report Share Posted October 17, 2011 Oil jumps above $ 86.80 Monday, October 17, 2011 Monitored the oil price rose above the $ 86.80 level, crude oil futures so far for the November contract traded at $ 86.90, or 0.13% higher than the opening price today. Economic data better than expectations, and hopes a resolution of the eurozone debt crisis have been the reason behind the surge in oil prices today. According to BNP Paribas analyst Tom Bentz, along with the economic recovery appears from the macro data, the strengthening of oil prices in line since the oversold area (oversold) in the range of $ 70 per barrel, to target the top target in the range of $ 90 per barrel. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted October 18, 2011 Author Report Share Posted October 18, 2011 China Oil Outlook charge Tuesday, October 18, 2011 Oil prices weakened in the London session due to the economic slowdown in China and France are anxieties suramkan credit rating outlook for energy demand. China, the world's second largest energy consumer, reported economic growth of 9.1% for third quarter 2011; lower than the predicted 9.3% and 9.5% the previous publications. This is the lowest economic growth in the last two years as Beijing Tighten monetary policy and weak export demand. Problem-euro zone also back into focus after German Finance Minister yesterday will not express any final solution for settlement of the euro-zone debt crisis at the upcoming October 23 meeting. Sentiment also deteriorated after Moody's warned the French can be given a negative outlook for its AAA rating if the cost for to save the banking and other euro-zone members impose on government finances too. "The deteriorating sentiment-euro zone and China's economic slowdown provide reasons for investors to do profit-taking after the recent oil rally," said Ben Taylor, senior CMC Markets. Reuters technical analyst, Wang Tao, predicted oil prices would experience a decrease in the short term after successfully achieved a high level 88 yesterday. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted October 19, 2011 Author Report Share Posted October 19, 2011 Spain rating cut, Asia Oil Weakness Wednesday, October 19, 2011 World oil weakened in Asian trade on trading Wednesday (19/10) are depressed because Moody's cut the ratings of Spain. U.S. crude oil, light seweet fell 25 cents to U.S. $ 88.09 per barrel through electronic trading on the New York Mercantile Exchange (NYMEX). While Brent crude fell 15 cents to U.S. $ 111 per barrel, as quoted from yahoofinance.com. Moody's Investors Service cut its ratings soverighn Spain. The reason the level of debt in the banking and corporate sectors is very high. This encourages these countries vulnerable to liquidity crises. The market was also waiting for data U.S. commercial crude oil stocks are expected rise in the second week. In the previous week sto U.S. domestic crude oil fell 3.1 million barrels. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted October 20, 2011 Author Report Share Posted October 20, 2011 Slipping Oil Up to $ 108 / Barrel Thursday, October 20, 2011 Oil prices edged down linked data showing a surprise drop in crude stocks and products in the United States. Brent crude oil is the range of $ 108 per barrel Barclays Capital, who estimated 2012 oil prices reached $ 115. But because demand has moderated, good supply of OPEC and non-OPEC has fallen more rapidly, so that a substantial withdrawal of inventory throughout the year. ICE Brent for December LCOc1 be in the range of $ 108 per barrel while U.S. crude fell 0.4% to $ 85.80. "Investors do not want to take a position until there is a clear sign of a resolution of debt crisis," said Tetsu Emori, fund manager at Astmax Co. Ltd. in Tokyo. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted October 21, 2011 Author Report Share Posted October 21, 2011 Crude Oil Up, Move closer to $ 87 Friday, October 21, 2011 Crude oil for trading this afternoon (21/10) recorded an increase. Oil little by little to rise after yesterday had been hit into the range of 85 dollars per barrel after earlier touching the level of 88 dollars per barrel. This is driving up oil today is sentiment death of Libyan leader, Moammar Gaddafi who gives good prospects for the country. In addition, the current rise in oil movement is also supported by the continued impact of the surge in U.S. manufacturing index data of 8.7 points on last month on speculation that drives increased energy demand in the U.S.. Crude oil futures for December rose 77 cents to 86.84 dollars per barrel. Meanwhile, Brent crude rose 4 cents to 109.8 dollars per barrel. According to the analysis of the Division of Research in Vibiz Vibiz Consulting, estimated crude oil price movements are still likely to move positively with the support level of 85.92 dollars per barrel, and resistant level of 86.46 dollars per barrel. Quote Link to comment Share on other sites More sharing options...
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