Tag Archives | West Texas Intermediate

Crude oil futures chart, January 15, 2014

Crude oil – Holding Support Lets Get Involved

Since putting in an interim top on 12/27 just below $101/barrel WTI futures have retraced losing almost $10/barrel. The first red horizontal line is seen on March futures near $91.50 and under that level support comes in at $90. It will take a settlement above the 8 day MA(orange line) for confirmation which I expect […]

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Crude oil futures chart for September 4, 2013

Crude oil – Buy the Rumor…Sell the Fact

October Crude oil recently traded above $112/barrel but as of this post futures are trading $5 under that level below its 8 day MA (orange line). I often use the 8 day MA and 18 day MA as key pivot points when navigating the energy sector and as one can see on the chart below […]

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Brent WTI Crude oil Spread

Brent/WTI Crude oil Spread

Buying Brent and selling WTI Crude oil is what will be discussed today. In the September contract this spread is currently trading with Brent carrying a $2.65 premium. Just one week ago we were trading even money in this spread. Every $1 move equates to a $1,000 gain/loss. I’m operating under the influence that we […]

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Crude Oil Futures (Daily), July 16, 2013

Crude oil looking for a sharp correction soon

Energy: Higher trade was rejected in Crude oil with futures ending just below $106/barrel. I’m looking for a sharp $4-5 correction very soon. My favored way to play is long Brent and short WTI 1:1. As of this post that spreads in September picked up 30 cents today…a small victory. Trading near $2.50 I expect […]

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Weekly Crude oil – I’m Eating Crow

Crude oil futures have advanced 13% in the last three weeks cutting through the $100 level like a hot knife through butter lifting futures to fresh 14 month highs. I anticipated a probe of this level as seen in previous posts but I did not see this type of acceleration. I was wrong. Much of […]

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Oil Spikes in aftermarket on surprise supply draw down

* DATA HIGHPOINTS FOR THE WEEK: — Japan Tankan Report…US ISM Manufacturing Data… US, Eurozone PMI Data… Reserve Bank Australia, ECB, Bank of England monetary policy meetings, rate announcements… US, Eurozone Employment Data US MARKET HOLIDAY SCHEDULE -EARLY CLOSES WEDNESDAY JULY 3RD…US MARKETS CLOSED THURSDAY JULY 4TH Data in italics-high potential to influence markets *Tuesday-4:30 […]

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Weak Gasoline Demand Creates Headwinds for Petroleum

Petroleum prices have rebounded slightly but remain depressed near the bottom end of the current range.  The recent barrage of weaker than expected economic data and the realization that the US could become an oil exporter has placed pressure on crude oil prices, driving WTI down below 95 per barrel. Inventory from the Department of […]

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Crude oil finds an Interim Top?

Crude oil has gained $8/barrel in the last month, putting it just a few dollars shy of $100. My stance: the easy money has already been made in bullish trade. Prices moved quickly from oversold to overbought territory as Stochastics shows in the chart below. I think we’re in the process of establishing an interim […]

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