Crude oil prices have remained lacklustre and rangebound in 2024. Slow economic growth and abundant production have kept prices muted. OPEC's efforts of supply cuts haven’t helped. Neither have geopolitical tensions. Over the past two weeks, oil prices have once more started to pick up steam, supported by trend of shrinking inventory. Despite the price buoyancy,...
CME_MINI:NQH2024 - PR High: 17985.00 - PR Low: 17952.25 - NZ Spread: 73.0 08:15 | ADP Nonfarm Employment Change 10:00 | Fed Chair Powell Testifies - JOLTs Job Openings 10:30 | Crude Oil Inventories Huge inventory decline prev session - Faded into daily 20 Keltner avg - Inventory response off 2/28-29 lows - above prev session close Evening Stats (As of...
In a previous article, "A Beefy Premium" , we delved into the growing divergence between Live Cattle and Lean Hogs. Since then, this disparity has only broadened. Currently, we're seeing a historic peak in both the absolute price difference (Live Cattle – Lean Hog) and the price ratio (Live Cattle/Lean Hog). To comprehend the drivers of this divergence,...
CME_MINI:NQZ2023 - PR High: 14720.00 - PR Low: 14700.50 - NZ Spread: 43.5 Key Economic Events 08:15 – ADP Nonfarm Employment Change 09:45 – S&P Global Services 10:00 – ISM Non-Manufacturing PMI - ISM Non-Manufacturing Prices 10:30 – Crude Oil Inventories Heavy volume and Open Interest - Returned to daily inventory over 14600 Evening Stats (As of 12:15...
Crude oil is all set to giving a breakout on long side! you can expect data ( Tomorrow's Inventory ) to support this possible breakout! yes! you can consider a BUY on WTIcrude oil STRICTLY above 73.75 Region with the SL of 71.25 for the target of 77.75!!! Alternative scenario : If crude is not giving breakout on upper side, you can go for sell below 71.75 with...
Live cattle recently hit an all-time high, leaving us wondering if the rally has gone too far. The front month contract reached 177 on April 13, surpassing the previous record set in November 2014. Meanwhile, lean hogs have been trading lower since last year. One way to assess this trend is to look at the spread between the two livestock markets. Both the...
Recession may be a red herring for a market fuelled by a supercycle While broad commodities have outperformed most major asset classes year-to-date1, the pressure of rising interest rates, a strong US dollar and fears of several large economies tipping into recession has led to a pull-back since the summer of 2022. In our Market Outlook, we argued that the...
CME_MINI:NQZ2022 - PR High: 11464.25 - PR Low: 11417.00 - NZ Spread: 105.50 *Coming off an inside day, near previous supply, possibly new inventory Evening Stats (As of 12:20 AM) - Weekend Gap: N/A - Session Gap: -0.49% (filled) - 10/26 Session Gap: -0.65% (filled) - 8/29 Weekend Gap: -0.18% (open > 13125) - 8/19 Session Gap: -0.04% (open > 13540) - Session...
CME_MINI:NQM2022 - PR High: 11928.25 - PR Low: 11883.00 - NZ Spread: 101.50 Evening Stats (As of 12:05 AM) - Gap: = N/A - Session Open ATR: 447.69 - Volume: 34k - Open Int: 255k - Trend Grade: Bear - From ATH: -28.5% (Rounded) ! BOUNCED OFF THE 'MAGICAL' -30% ! Key Levels (Rounded - Think of these as ranges) - Long: 14105 - Mid: 12960 - Short:...
CME_MINI:NQH2022 - PR High: 13258.75 - PR Low: 13192.00 Evening Stats (As of 12:05 AM) - Gap: = N/A - Session Open ATR: 460.31 - Volume: 37k - Open Int: 240k - Trend Grade: Neutral - From ATH: -21.0% (Rounded) Key Levels (Rounded - Think of these as ranges) - Long: 14675 - Mid: 13500 - Short: 12390 Keep in mind this is not speculation or a prediction. Only...
CME_MINI:NQH2022 - PR High: 15878.25 - PR Low: 15812.00 Evening Stats (As of 1:27 AM) - Gap: = N/A - Session Open ATR: 341.09 - Volume: 52k - Open Int: 210k - Trend Grade: Neutral - From ATH: -5.5% (Rounded) Key Levels (Rounded - Think of these as a range) - Long: 16963 - Mid: 16391 - Short: 15819 Keep in mind this is not speculation or a prediction. Only...
CME_MINI:NQH2022 - PR High: 15946.50 - PR Low: 15909.50 Evening Stats (As of 11:31 PM) - Gap: = N/A - Session Open ATR: 297.39 - Volume: 22k - Open Int: 177k - Trend Grade: Neutral - From ATH: -5.0% (Rounded) Key Levels (Rounded - Think of these as a range) - Long: 16963 - Mid: 16391 - Short: 15819 Keep in mind this is not speculation or a prediction. Only...
Crude oil is predictable, even though most market participants and pundits express shock when the price tanks as it has since November 26. The writing was on the wall in the crude oil market. The US administration is taking credit for falling oil prices- Begging OPEC and opening the spigot at the SPR Seasonal factors are at play- Inventories remain low ...
Longs Flushed Let's kick off Q4 with a white-hot faceripper Long entries within 4255-4265, top of OB and AVWAP, target 4350-4360 (first), runner to 4400ish stop beneath OB
Inventory GRAB anyone? Looking to break that fat double bottom and get a little sumthin sumthin For the nimble among ye, double bottom break pukey longs leave the field gobble inventory and go for goguen enter first leg with sell stops or higher for more optimal R. For 2nd leg, First scale out at 2.44 if you are a scared beeyotch or simply want to ruin your R
Did you get Dizzy on the way down and then up ? How'd you like that New York Open candle? What do the operators of this magnificent magical zeppelin have in store next? Fry the little bears for daring! Push them into the level indicated by the green flag and choose your poison. Stops? Yes please, ALWAYS use a stop..... for your 'protection'
Yesterday the inventory report at 17:30 (GMT+3) showed that the change in the number of barrels of crude oil held in inventory by commercial firms during the past week was again negative and even higher than before -7.1M barrels, against the expected figure of -2.1M. >> Its spot price fell overall back to 71 USD per barrel, that day, but as figures suggest, there...
Crude oil prices slipped, as a string of supply disruption which supported prices is subsided now, with bearish headwinds from easing supply blocks in Norway and Libya which opened up the door to potential rise in global oil production to a market facing feeble demand due to pandemic. Energy Operators have restarted their production in Gulf of Mexico after...