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 […]
It was a shortened week with the holiday so volumes has been lackluster but to take nothing away from this move as Crude has taken out the $100/barrel level and currently trading at 13 month highs just above $101. As one can see in the chart below futures have traded out of the $10-12 trading […]
In the last three weeks Crude oil prices have risen better than $10/barrel trading within $1 of two month highs albeit very briefly Sunday evening. The failed spike higher in recent session can be attributed to unrest in the Middle East. As attention turned towards potential conflicts on Israeli airstrikes in Syria over the weekend… […]
Crude oil had been a one-sided trade since the start of April until the last few days, falling $12/barrel high to low. Bolstered by sellers who have called the commodity bull market dead, oil got dragged lower and struggled to find its footing until recently. But wait… fast-forward to this week… not only has crude […]
Crude oil saw a dramatic correction after the Hostage situation in Iran was peacefully resolved. While that is good news it shows that tensions in the region are as high as they have ever been. Crude oil has just today completed an almost perfect 50% fibonacci retracement. At the same time we can see through […]
