Archive | energy

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 […]

Continue Reading
Natural Gas Futures chart for January 8, 2014

As weather abates will Natural Gas respond?

I’ve pointed this out several times in recent weeks but a sleeping giant was awoken 9 weeks ago. Natural gas has been on a tear from early November adding $1 move in the futures market from the first week of November until peaking in Mid-December just above $4.50. In the last two weeks February has […]

Continue Reading
U.S. Crude oil stocks

Robust Inventories and Iranian Deal Put Pressure on the Oil Barrel

Oil prices were on the defensive on Monday as a deal between Iran and the 5 permanent member of the U.N. security council along with robust petroleum inventories generated headwinds for prices. Inventories are currently at a 5-year high, which reflects strong production in the United States. Hedge fund traders have been reducing short positions […]

Continue Reading
Crude oil futures chart for October 13, 2013

Crude Oil Overstreched

WTI Crude oil prices may have found a floor. The steep sell off that has dragged December futures lower by nearly 6% in the last two weeks may have run its course. Futures are oversold as indicated by stochastics and while the 50% Fibonacci level may not be your ultimate reversal point there appears to […]

Continue Reading
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 […]

Continue Reading
Natural Gas Futures chart for August 19, 2013

Natural gas – A Bullish Move Underway

Since putting in a low on 8/8 at $3.15 October natural gas futures have advanced 11% lifting this contract to the down sloping trend line(blue line) that has served as resistance since mid-May. It was a positive development in recent sessions to trade above both the 8 and 18 day MAs. Above the trend line […]

Continue Reading
Crude oil Futures, August 14, 2013

Crude oil – Bullish draw and still NO Upside

Yesterday we saw an unexpected rise in fuel products reported by the API. According to the API Crude stockpiles fell 999,000 barrels last week but gasoline stockpiles rose 1.7M barrels and distillates rose 1.1M barrels. The EIA out today reported a slightly more bullish figure showing oil stockpiles falling 2.8M barrels. The EIA also indicated […]

Continue Reading

Natural gas – Wear gloves when catching a falling knife

Natural gas has traded lower the last 6 sessions and is currently trading off the lowest levels in 13’. Looking back 16 months one can identify on the chart below that a gap was filled from 4/23 this week. Stochastics are showing the most oversold conditions in 5 weeks when futures managed to rally 30 […]

Continue Reading