Headlines: - Oil Futures Surge on Production Cuts Whilst Demand Begins to Pick-up Slightly - Natural Gas Storage Sees Build of 70bcf for Week Past - US Indexes Finish Lower as Financials and Materials Sectors Drag Indexes Lower
crude oil is finally approaching a major trendline. 17.8 - 19.8 is our potential reversal zone and chances will be high that the zone will be respected and the price will drop again. my trigger to short is a rising wedge pattern. I want to see its bearish breakout in order to sell. initial target will be 14.5 level.
Headlines: - WTI Continues Lower in Asia Plus USO Begins to Sell Its June Contracts - Japan Posts Lower than Expected CPI Data Whilst Unemployment Numbers Increase - US Futures Lower Whilst Markets in Asia Post Slightly Mixed Session
Headlines: • Oil Falls Below $13 as Prices Continue to Be Rattled by Ongoing Storage & Production Issues • Low Oil Prices Claim Another Victim as Diamond Offshore Files for Chapter 11 Bankruptcy • US Energy Sector Pushes Higher Despite Falling Crude Prices Up 2.10%
Headlines: • Crude Falls Monday Asian Session Down -11% Despite Early Production Cuts • Equities Across Asia Push Higher with Bank of Japan Announcing Further Stimulus • COT Reports Shows Increase in Light Crude Long Managed Money Positions for Week Past
Where to begin? I guess we can start with what this chart is showing. This chart shows that since 2008, oil has been in a deflationary spiral. Just look, since 1984, crude markets were in a healthy stable sideways movement. The ones who were buying and selling oil, were the ones who were in the field. Today? You have a bunch of no good investment firms who got...
Headlines - API Data Shows Crude Increase of 13.226 Million Barrels for the Week - Oil Whipsaws as Storage and Demand Issues Take Centre Stage - US Equities Fall Whilst Futures in Asia Set to Open Lower
Brent crude oil BCOUSD going down as the flag pattern has been completed
This could be a Shoulder-Head-Shoulder formation, which means 11-12$ could be coming again soon. Oilprices have a difficult time too and put a lot of pressure on the oil industry.
Use this as a guide to develop your view of the chart: FIRST, let's start with the Weekly Chart: a)The price is on the lower trendline of a massive corrective Structure + Support zone b)We expect a Bullish movement on the long term towards the next Dynamic Resistance zone c)ABCDE Patter is finished. We should deduce a bullish movement SECOND, let's go to...
Headlines: - Crude Flat in Asia Whilst US Futures Lower Nearing the Open - Santos Looks to Sell Stake in Barossa Gas Field Project as Company Signs Letter of Intent - Australian Unemployment Increases to 5.2% However Beats Forecasts
Headlines • EIA Inventories Release Shows Crude Build of 19.248 Million Barrels • IEA Reports Oil Demand in 2020 to Plummet as Lack of Demand Rocks Markets • Crude Plummets Below $20 Handle as IEA Shows Expected Demand to Fall
Headlines: - Crude Recovers Slightly in Asia Whilst Equities Relatively Flat - Baker Hughes to Cut Capital Expenditures by 20% - Exxon Pauses Its Australian Bass Strait Drilling Project
API Release this week has shown a gain up for the week with Gasoline posting a build of 2.226 million barrels
Headlines: - API Shows Crude Inventory Increase of 13.143 Million Barrels - Crude Falls to $20 Handle as API Coupled with Falling Demand Increases Pressure on Pricing - TOTAL Postpones Development of Offshore Preowei Project Nigeria
Headlines • COT Report Shows Increase in Light Crude Long Managed Money Positions • US & UK Futures Up as Markets Conclude Long Weekend Break Period • OMV Releases Positive Result for its Exploration Well in the Taranaki Basin
- Crude Futures Fall as Sentiment Surrounding Cuts Diminishes as Supply Glut Remains - Shell Halts Some Production Within its Gulf of Mexico Project Due to Exxon Pipeline Leak - Shell Pulls Its Interest from Russian Arctic Project