WTI Crude Oil Oscillating in Clearly Defined Range
The crude oil market as a whole has continued to be dominated by stale and conflicting fundamental, technical, and geopolitical factors. These factors have brought about as much balance to the crude oil markets as Anakin Skywalker brought to the force. The most interesting factor is that many market participants seem to forget that markets … Continue reading WTI Crude Oil Oscillating in Clearly Defined Range
Ask Kase: How To Trade The Shanghai Index
Read on TraderPlanet.com by Cynthia Kase “Ask Kase” any question you may have about any actively traded security, and your question may be chosen as the subject of a future column (askkase@kaseco.com). This week’s question for Kase: Is the Shanghai Composite Headed to Shangri-La?
Midweek Natural Gas Forecast – June 10, 2015
This is an important time for natural gas because the market is moving out of the spring shoulder months and into summer. The market had been poised to test the contract lows, which it did, but the lows held and prices reversed higher this week. The July natural gas futures contract closed above $2.78 resistance … Continue reading Midweek Natural Gas Forecast – June 10, 2015
Brent Putting Bearish Pressure on Crude Oil Market
As expected, OPEC is not changing their output, or their strategy of retaining market share, because their strategy is working. Greece may default, pull-out of the European Union, strike some new deal, or do nothing, all of which could send waves through the Eurozone. The dollar is up and then down from day to day. … Continue reading Brent Putting Bearish Pressure on Crude Oil Market
Midweek Natural Gas Forecast – June 3, 2015
The price of natural gas, or any commodity for that matter, is theoretically the fair price at a given time. Traders will buy gas when they think prices are going to rise, and sell it when they think it will fall. This may be oversimplifying the process a bit (okay, a lot), but the point … Continue reading Midweek Natural Gas Forecast – June 3, 2015
Crude Oil Prices Attempting to Break Higher
WTI crude oil prices have been oscillating in a downward sloping channel for the past few weeks and the decline has formed a bullish continuation pattern. Although the formation is not a perfect flag, pennant, wedge, or triangle, it does appear to be corrective. More often than not corrective patterns like this ultimately break higher … Continue reading Crude Oil Prices Attempting to Break Higher
Midweek Natural Gas Forecast – May 27, 2015
Natural gas’ pullback still appears to be corrective, but has positioned itself to test a crucial decision point at $2.71. This is in-line with the $2.711 swing low, the 1.618 projection of the wave down from $3.105, and the 61.8 percent retracement of the move up from $2.443. The $2.71 objective should be challenged ahead … Continue reading Midweek Natural Gas Forecast – May 27, 2015
Gasoline’s Double Top Calls for Test of Support
Gasoline futures formed a double top at approximately 209.5 after attempting to overcome this crucial area of resistance in early trading Tuesday. The double top and confirmed dark cloud cover call for at least 195.0. This is a crucial decision point for an extended correction because 195.0 is in line with the 196.21 swing low … Continue reading Gasoline’s Double Top Calls for Test of Support
Midweek Natural Gas Forecast – May 20, 2015
For the past few weeks many traders have doubted the rationality of natural gas’ price surge and have been looking for a stalling point. It is hard to argue with the charts though, and our analysis, based purely on what is happening on the charts, has called for $3.05 as a potential stalling point. We … Continue reading Midweek Natural Gas Forecast – May 20, 2015
Narrowing WTI-Brent Spread Supports Rising Oil Prices
The WTI-Brent spread has been fluctuating in a range for the past few weeks after narrowing to an intraday high of (3.34) on April 15. The narrowing spread has supported rising WTI and Brent price, and the wave formations indicate the spread will most likely continue to narrow. However, it must overcome (5.50) to make … Continue reading Narrowing WTI-Brent Spread Supports Rising Oil Prices
