Friday, July 31, 2009

The Fibonacci Tool Fully Explained


If you are not already using the Fibonacci tool in your trading maybe you have heard of it. It is one of the most effective and simple tools to use in becoming a successful trader. And it is fully explained here in this video, it’s a technical tool that can make you rich.

You may have heard about Fibonacci, the man who discovered a set of numbers who that have a major affect on the market. So who is this Fibonacci fellow, and why are his findings so important in the market place?

The mathematical findings by this thirteenth century Italian man has yielded a useful technical analysis tool which is used in technical analysis and by scientists in a large array of fields. Born Leonardo of Piza, he is better known in the trading community as Fibonacci. Fibonacci’s best known work is Liber Abaci which is generally credited as having introduced the Arabic number system which we use today.

Fibonacci introduced a number sequence in Liber Abaci which is said to be a reflection of human nature. The series is as follows: 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144 and on to infinity. The series is derived by adding each number to the previous. For example, 1+1=2 , 2+1=3, 3+2=5, 5+3=8, 8+5=13, and so on.

We use the Fibonacci series mainly for retracements (see today’s video) and to show us where support and resistance might come into the market. We also use this tool to enter or add onto a position.
In this video we show you these exact retracements and how they affected the market at that time.

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There is no need to register for this video and of course you can watch it FREE with our compliments today.

Oil, Gasoline Surge as Second Quarter U.S. GDP Tops Projections

Crude oil rose to a one month high and gasoline surged after a report that the U.S. gross domestic product shrank less than estimated bolstered speculation that the economy is recovering from the recession. Oil climbed 3.7 percent after the Commerce Department said that GDP fell at a 1 percent annual pace during the April through June period. The U.S. economy was forecast to shrink at a 1.5 percent pace, according to the median estimate of 78 economists surveyed by Bloomberg News. Prices also gained because of a drop in the dollar against the euro.....Complete Story

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Crude Oil Closes Above Reaction High Crossing


Crude oil closed higher on Friday and above the previous reaction high crossing at 68.99 thereby renewing the rally off this month's low. The high range close sets the stage for a steady to higher opening on Monday. Despite today's rally, stochastics and the RSI remain neutral to bearish hinting that this rally is a corrective rebound.

If September extends this week's rally, the reaction high crossing at 74.25 is the next upside target. Closes below Wednesday's low crossing at 62.70 are needed to confirm that a short term top has been posted.

First resistance is today's high crossing at 69.74
Second resistance is the reaction high crossing at 74.25

First support is the 10 day moving average crossing at 66.65
Second support is the 20 day moving average crossing at 64.50

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Natural gas closed lower due to profit taking on Friday as it consolidates some of Thursday's rally. The mid range close sets the stage for a steady opening on Monday. Stochastics and the RSI remain bearish hinting that additional weakness is possible near term.

If September renews the rally off this month's low, the reaction high crossing at 4.261 is the next upside target. Closes above the reaction high crossing at 4.045 are needed to renew the rally off this month's low.

First resistance is the 10 day moving average crossing at 3.76
Second resistance is the reaction high crossing at 4.05

First support is Wednesday's low crossing at 3.46
Second support is this month's low crossing at 3.23

The Fibonacci Tool Fully Explained

Can Exxon Find Future Growth?


ExxonMobil, suffering like the rest of its Big Oil peers from lower oil and natural gas prices, reported plunging earnings this morning. Net income for the second quarter came in at $3.95 billion, a 62% drop over the same quarter last year. At 81 cents a share, Exxon's results undershot analyst expectations. Yet shareholders received their usual largesse from Exxon: $7 billion in dividends and stock buybacks even while the company suffered a 4% decline in oil and gas production to a current 3.7 million barrels a day.....Complete Story

Pemex Output Goal ‘Uphill Battle,’ Forces Borrowing


Petroleos Mexicanos, Latin America’s largest oil company, is likely to miss its 2009 output goal even after lowering its production forecast, forcing the company to seek other sources of financing to pay for its largest ever capital spending plan. Pemex, which hasn’t increased production in 3 years, needs to raise output by at least 1.6 percent in the final six months of 2009 to reach a goal of 2.65 million barrels a day, according to data compiled by Bloomberg. Mexico City based Pemex lowered its forecast yesterday on an earnings conference call.....Complete Story

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Chevron Profits Tumble 71 pct Because of Cheap Oil


Chevron Corp. says its second quarter profit fell 71 percent as demand for crude oil and gasoline plunged. Chevron, the second largest U.S. oil company, said Friday its net income amounted to $1.75 billion, or 87 cents per share, for the three-month period that ended June 30. That compared with $5.98 billion, or $2.90 per share, in the same period last year. The company said its net income suffered from a weak U.S. dollar, amounting to $453 million in reduced earnings. That compares with an income benefit of $126 million in the same period last year. Analysts surveyed by Thomson Reuters expected earnings of 95 cents per share. Those estimates typically exclude one time items.....Your keyword

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Oil Drops After Data Shows U.S. Recession Worse Than Estimated


Crude oil fell, heading for its first monthly decline since January, after revisions to U.S. data showed the economy shrank more than estimated in the recession. Oil is set for its first weekly decline in three weeks after a surprise 5.15 million barrel jump in U.S. crude inventories was reported by the Energy Department. Japan, the world’s third largest oil consumer, said crude imports plunged for a ninth consecutive month in June. “The low $70s has become the ceiling for oil prices, as at this point they begin to weigh on equity markets,” Christopher Bellew, senior broker at Bache Commodities Ltd. in London.....Complete Story

Today’s Stock Market Club Trading Triangles

Crude Oil Slightly Higher as we Look to GDP Numbers

Crude oil traded overnight due to profit taking as traders consolidated some of Thursday's rally. While we have turned positive as we move closer to the pre market release of the GDP numbers, stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term.

If September renews Wednesday's decline, this month's low crossing at 59.30 is the next downside target. Closes above Monday's high crossing at 68.99 are needed to renew the rally off this month's low.

Friday's pivot point for crude oil is 65.58

First resistance is Monday's high crossing at 68.99
Second resistance is the reaction high crossing at 74.25

First support is the 20 day moving average crossing at 64.38
Second support is Wednesday's low crossing at 62.70

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Natural gas was lower overnight as it consolidates some of Thursday's rally. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term.

If September extends this week's decline, this month's low crossing at 3.366 is the next downside target. Closes above the 10 day moving average crossing at 3.765 are needed to temper the near term bearish outlook in the market.

Friday's pivot point for natural gas is 3.67

First resistance is the 10 day moving average crossing at 3.77
Second resistance is the reaction high crossing at 4.05

First support is Wednesday's low crossing at 3.46
Second support is this month's low crossing at 3.37

Using Volatility In Your Market Analysis

Thursday, July 30, 2009

CNBC Video: Where is Oil Likely to be Headed on Friday

CNBC's Rebecca Jarvis discusses the day's activity in the commodities markets, and looks ahead to where oil is likely headed tomorrow.




The Fibonacci Tool Fully Explained

Crude Closes Higher, Stochastics and RSI Remain Bearish

Crude oil closed sharply higher due to short covering on Thursday as it consolidated some of Wednesday's decline. The high range close sets the stage for a steady to higher opening on Friday. Despite today's rally, stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term.

Multiple closes below the 20 day moving average crossing at 64.38 are needed to confirm that a short term top has been posted. If September renews this month's rally, the reaction high crossing at 74.25 is the next upside target.

First resistance is Monday's high crossing at 68.99
Second resistance is the reaction high crossing at 74.25

First support is Wednesday's low crossing at 62.70
Second support is this month's low crossing at 59.30

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Natural gas closed higher due to short covering on Thursday as it consolidated some of this week's decline. The high range close sets the stage for a steady to higher opening on Friday. Despite today's rally, stochastics and the RSI remain bearish hinting that additional weakness is possible near term.

If September renews the rally off this month's low, the reaction high crossing at 4.261 is the next upside target.

First resistance is the 10 day moving average crossing at 3.78
Second resistance is last Wednesday's high crossing at 4.05

First support is Thursday's low crossing at 3.61
Second support is this month's low crossing at 3.23

FREE Trade School Video "The #1 Predictor of Inflation or Deflation"

Oil Surges Close to $67 a Barrel in Volatile Week


Oil prices surged above $66 a barrel Thursday, rising in lockstep with major global indexes in what has become a very volatile week for energy markets. With regulators meeting in Washington to consider new limits on speculators that some blame for wild swings in oil and gas prices, crude fell 6 percent Wednesday only to rebound by almost that much Thursday. Benchmark crude for September delivery rose $3.59, or 5.6 percent, to settle at $66.94 a barrel on the New York Mercantile Exchange. Oil, gas futures, heating oil and natural gas contracts all jumped at least 5 percent in afternoon trading.....Complete Story


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Oil and Gasoline Surge as Corporate Earnings Boost Confidence

Crude oil rose more than $3 a barrel and gasoline surged the most in four months after better than expected corporate earnings and as jobless claims held below late June levels. Oil gained as much as 4.9 percent as stocks advanced on increased optimism that the economic decline will ease. The number of people collecting unemployment insurance decreased for a third week, according to the Labor Department. A U.S. report yesterday showed that crude supplies unexpectedly climbed as demand lagged behind year earlier levels. “More people think the economy has bottomed and are buying equities and commodities as a result”.....Complete Story

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Cushing Oil Storage Rate Causing Energy Worries

There may be millions of reasons for Oklahomans to be concerned about the glut of crude oil being stored in Cushing. Some in the state’s oil and natural gas industry insist an influx of oil from Canada has affected the market at Cushing, where the New York Mercantile Exchange sets its prices. Enid oilman Harold Hamm said he is concerned that Cushing’s vast oil storage could decimate the market, much as the storage level did about 15 years ago in Wyoming under similar circumstances. He said prices there dipped as far as $24 a barrel below market price when new pipelines brought in as many as 235,000 barrels of Canadian crude oil a day.....Complete Story

Today’s Stock Market Club Trading Triangles

Gold and Crude Oil Market Meltdown Analysis with the Market Oracle


Everything is playing out exactly as we hoped and expected this week. We have been so close to a buy signal in gold and silver but Monday’s intraday observations saved us from a nasty trade. Those of you in love with oil just had a Kiss Good Bye! Better PUT some love letters together J pardon the pun. Natural Gas is all bottled up. Can you smell that?.....Complete Story



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Exxon Mobil Profit Drops 66% as Energy Prices Plunge


Exxon Mobil Corp., the largest U.S. oil company, reported a third straight drop in profit after shrinking demand for diesel, gasoline and natural gas pulled down energy prices. Second quarter net income fell 66 percent to $3.95 billion, or 81 cents a share, from $11.7 billion, or $2.22, a year earlier, Irving, Texas based Exxon Mobil said today in a statement. Per share profit excluding legal costs related to the 1989 Valdez oil spill was 84 cents, 15 cents below the average of 16 analyst estimates compiled by Bloomberg.....Complete Story

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Daily Oil Prices with Anna Coulling

Daily oil prices reacted badly to yesterday's reported crude stock build of more than 5m barrels, not entirely unexpected given Tuesday's bearish API numbers, with crude prices touching a low of $62.70 per barrel before ending the day at $62.96 per barrel. As usual this dramatic fall was aided and abetted by a consequent strengthening of the US Dollar and, with the exception of the Shanghai composite, most equity markets did manage to hold onto their recent gains.....Complete Story



Today’s Stock Market Club Trading Triangles

Crude Oil Higher on U.S. Dollar Sell Off Overnight


Crude oil was higher overnight as the U.S. Dollar is lower on profit taking. However, stochastics and the RSI for the dollar is bullish signaling that sideways to higher prices are possible near term. Oil also was higher due to short covering overnight as it consolidates some of Wednesday's decline but remains below the 20 day moving average crossing at 64.23. Stochastics and the RSI are turning bearish signaling that sideways to lower prices are possible near term.

If September extends Wednesday's decline, this month's low crossing at 59.30 is the next downside target. Closes above the 10 day moving average crossing at 65.91 would temper the near term bearish outlook in the market.

Crude oil pivot point for Thursday is 64.20

First resistance is the 20 day moving average crossing at 59.30
Second resistance is the 10 day moving average crossing at 65.91

First support is Wednesday's low crossing at 62.70
Second support is this month's low crossing at 59.30

Trading Video: US Dollar Index and it’s affect on Crude Oil

Natural gas was higher due to light short covering overnight as it consolidates some of this week's decline but remains below the 20 day moving average. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near term.

If September extends this week's decline, this month's low crossing at 3.366 is the next downside target. Closes above the 10 day moving average crossing at 3.760 would temper the near term bearish outlook in the market.

Thursday's pivot point for natural gas is 3.56

First resistance is the 20 day moving average crossing at 3.66
Second resistance is the 10 day moving average crossing at 3.76

First support is Wednesday's low crossing at 3.46
Second support is this month's low crossing at 3.37

It's true, you can learn to trade crude oil in 90 Seconds

Wednesday, July 29, 2009

Goldman Says Curbing Speculators May Disrupt Markets

Goldman Sachs Group Inc., the bank that makes the most money from commodities, fixed-income and currency trading, said attempts to curb speculation may be “disruptive” to energy markets. “The role that is played by non traditional participants such as index investors and other financial participants often has been mischaracterized,” Don Casturo, a Goldman Sachs managing director, said today at a Commodity Futures Trading Commission hearing in Washington. The testimony was part of the second day of hearings on excessive market speculation and how to respond......Complete Story

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Investors Focus On Exxon, Unemployment


Perhaps the biggest earnings announcement Thursday will come from oil giant Exxon Mobil and investors want to know how energy companies are deploying their money in a time of wildly volatile oil prices. So far it's been a rocky earnings season for oil firms. Last year oil was at $125 a barrel around this time, twice what it is today. On Wednesday Hess and ConocoPhillips both posted steep drops in quarterly profits. Analysts expect Exxon to announce earnings of $1.02 a share before the bell Thursday, down from $2.27 last year.....Complete Story

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New Video: What Happened to the Gold Market


I think it came as a big surprise to many traders that the gold market imploded on Tuesday pushing to its lowest levels in several days.

The downward spiral was enough to trigger a daily “Trade Triangle” which moved us into the neutral camp on this market. Exiting our long gold position based on our “Trade Triangle” signals produced a very small profit or in some cases of break even trade.

So the question is: Is the sharp downward move in gold over?

In our new video we answer that question and share with you some levels we think gold will go to on the downside. We also share with you that we could be setting up for an excellent buying opportunity, if and when our “Trade Triangles” are aligned.

Before you trade gold watch the video and please leave a comment letting us know where you think gold is headed.

Where Is Oil Headed on Thursday

CNBC's Sharon Epperson discusses the day's activity in the commodities markets, and looks ahead to where oil is likely headed tomorrow.




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Crude Oil Closes Below 20 Day Moving Average, Lower Prices Possible


Crude oil closed sharply lower on Wednesday and below the 20 day moving average crossing at 64.39 confirming that a short term top has been posted. The low range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are overbought and are turning bearish signaling that sideways to lower prices are possible near term.

If September extends this week's decline, this month's low crossing at 59.30 is the next downside target. Closes above Monday's high crossing at 68.99 would confirm that a short term low has been posted while renewing the rally off this month's low.

First resistance is Monday's high crossing at 68.99
Second resistance is the reaction high crossing at 74.25

First support is today's low crossing at 62.76
Second support is this month's low crossing at 59.30

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Natural gas closed lower on Wednesday as it extends this week's decline. The mid range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near term.

If September extends this week's decline, this month's low crossing at 3.445 is the next downside target. Closes above the 10 day moving average crossing at 3.782 would temper the near term bearish outlook.

First resistance is today's high crossing at 3.70
Second resistance is the 10 day moving average crossing at 3.78

First support is today's low crossing at 3.46
Second support is this month's low crossing at 3.23

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U.S. Interior Dept Gets Green Light for GOM Leasing Plan


Today, U.S. Department of the Interior Secretary Ken Salazar issued the following statement regarding the U.S. Court of Appeals for the District of Columbia Circuit ruling on DOI's request for clarification of the Court's earlier decision to vacate the 2007-2012 Outer Continental Shelf oil and natural gas leasing program.... "I am pleased with the Court's decision. Consistent with the Department's request, the Court clarified that its prior ruling only applies to the Chukchi, Beaufort and Bering Seas. We are moving forward with the planned August 19th Gulf of Mexico lease sale".....Complete Story

Today’s Stock Market Club Trading Triangles

Decline Oil Price Accelerates As Recent Rally Looks Overdone


Currently trading at 65.7, decline in crude oil price accelerates in European morning, consistent with sharp falls in stock markets. Investors take profit after prices had rallied for almost 2 weeks and recent rises look excessive. In Asia, the MSCI Asia Pacific Index slid -1.1% although Japan's Nikkei 225 Index added +0.26% to 10113. In China the Shanghai Composite Index tumbled -5% as led by plunges in oil and base material shares. In European morning, stocks seem to be unaffected by slumps in US and Asia. US' FTSE 100 Index gains almost +1% while Germany's DAX and France's CAC 40 adds +1.9% and +1.8%, respectively.....Complete Story

Oil Falls the Most in Three Months After Unexpected Supply Gain

Crude oil fell the most in three months after a government report showed an unexpected gain in U.S. inventories as imports jumped and refiners reduced operating rates. Stockpiles surged 5.15 million barrels to 347.8 million in the week ended July 24, the Energy Department said. It was the biggest weekly increase since April. Supplies were forecast to decline by 1.5 million barrels, according to the median of analyst estimates in a Bloomberg News survey. “The main problem with this market is the fact that there’s too much oil out there,” said Michael Lynch, president of Strategic Energy & Economic Research, in Winchester, Massachusetts. “We may test $60 before the week is over as these numbers are absorbed".....Complete Story

What Happened to the Gold Market?

ConocoPhillips Profit Drops 76% After Oil and Gas Plunge


ConocoPhillips, the third biggest U.S. oil company, said second quarter profit fell 76 percent after the recession spurred a collapse in energy prices. Net income dropped to $1.3 billion, or 87 cents a share, from $5.44 billion, or $3.50, a year earlier, Houston based ConocoPhillips said today in a statement. Excluding such one time items as a $192 million gain on the company’s Lukoil investment, profit was about 85 cents share, 1 cent higher than the average of 15 analyst estimates compiled by Bloomberg. U.S. oil futures plunged by more than half, averaging $59.79 a barrel, and gas prices fell 67 percent. ConocoPhillips is cutting its capital spending 37 percent this year and said in January that it would reduce its workforce by 4 percent.....Complete Story

Today’s Stock Market Club Trading Triangles

Energy Markets Fall as Oil Majors Report Earnings


Crude oil was lower overnight due to profit taking as it consolidates some of the rally off this month's low. Stochastics and the RSI are overbought and are turning neutral to bearish hinting that a short term top might be in or is near.

Closes below the 20 day moving average crossing at 64.54 would temper the near term friendly outlook in the market. If September extends the rally, the reaction high crossing at 74.25 is the next upside target.

Wednesday's pivot point for crude oil is 67.52

First resistance is Monday's high crossing at 68.99
Second resistance is the reaction high crossing at 74.25

First support is the 20 day moving average crossing at 64.54
Second support is the reaction low crossing at 63.76

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Natural gas was lower overnight and trading below the 20 day moving average crossing at 3.676. Stochastics and the RSI are turning bearish hinting that a short term top might be in or is near.

Closes below the 20 day moving average crossing at 3.676 would temper the near term friendly outlook in the market. If September extends the rally off this month's low, the reaction high crossing at 4.261 is the next upside target.

Natural gas pivot point for Wednesday is 3.71

First resistance is last Wednesday's high crossing at 4.05
Second resistance is the reaction high crossing at 4.26

First support is Tuesday's low crossing at 3.61
Second support is this month's low crossing at 3.37

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Tuesday, July 28, 2009

Oil Prices Set to Fall

Crude oil prices are set for a dramatic downturn as huge stockpiles of fuels and heating oil accumulate in U.S. storage facilities, analysts say. The Organization of Petroleum Exporting Countries is prepared for drastic declines in crude prices as suppressed demand translates to a buildup of oil based fuel reserves. "Inventories are at just ridiculously high levels," says Kevin Rooney, chief executive at the Oil Heat Institute of Long Island trade group. "I would imagine that just about every available barrel of storage is full".....Complete Story

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Crude Oil's Low Range Close Sets The Stage For Lower Open on Wednesday


Crude oil closed lower due to profit taking on Tuesday as it consolidated some of the rally off this month's low. The low range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near term.

If September extends this month's rally, the reaction high crossing at 74.25 is the next upside target. Closes below the 20 day moving average crossing at 64.74 would confirm that a short term top has been posted.

First resistance is Monday's high crossing at 68.99
Second resistance is the reaction high crossing at 74.25

First support is the 20 day moving average crossing at 64.74
Second support is the reaction low crossing at 63.76

Our Favorite of Predictor of Inflation or Deflation.

Natural gas closed lower on Tuesday as it extended Monday's decline. The low range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI have turned bearish hinting that a short term top might be in or is near.

Multiple closes below the 20 day moving average crossing at 3.690 would temper the near term friendly outlook. If September extends the rally off this month's low, the reaction high crossing at 4.261 is the next upside target.

First resistance is last Wednesday's high crossing at 4.05
Second resistance is the reaction high crossing at 4.26

First support is today's low crossing at 3.61
Second support is this month's low crossing at 3.23

The Fibonacci Tool Fully Explained

Supporters of Offshore Drilling Eyeing Area Off Florida's Coast

Two senators from oil producing states have introduced legislation that would bring oil drilling to within 45 miles of Florida's Gulf coast. The bill sponsored by Sens. Lisa Murkowski, R-Alaska, and Mary Landrieu, D-Louisiana, would effectively void a 2006 law crafted by Florida's congressional delegation, which put a massive swath of federal waters close to the state off limits until at least 2022. The sponsors said Monday the legislation would benefit states by giving them a cut 37.5 percent of the revenue from offshore oil and gas exploration off their coasts.....Complete Story

Is it true...You could learn to trade crude oil in just 90 seconds?

Goldman Sachs Closes Position in December 2011 Crude

Goldman Sachs Group Inc. closed its recommendation to buy crude futures for December 2011 delivery after long dated oil prices approached the bank’s target of $85 a barrel.

Oil’s rally to a three week high has been driven by distillate fuel demand from emerging markets, Goldman said today in its Energy Weekly. This reliance on distillates, which include diesel and heating oil, “may limit further near term upside,” the bank said.

“It is still too early to argue that distillate has comfortably turned the corner,” Jeffrey Currie , a London based analyst at Goldman, said in the report. “The recent crude rally has been anomalous led by rising long-dated prices rather than by improving time spreads.”

Goldman recommended in a July 15 report that investors buy crude for December 2011 delivery and short the call options on the same contract at $100 a barrel and short put options at $65 a barrel. The combined return on that strategy is 16.2 percent, the bank said. December 2011 oil futures traded as high as $81.31 today in New York .

“We will look for future pullbacks to reinstate this position,” Currie said in the note.

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BP Says ‘Little Evidence’ of Recovery After Net Falls


BP, Europe’s second biggest oil company, said profit fell 53 percent on lower energy prices and there is “little evidence” of a recovery in demand. Second quarter net income fell to $4.39 billion, or 23.16 cents a share, from $9.36 billion, or 49.23 cents, in the year earlier period, London based BP said today in a statement. Excluding one time items and inventory changes, earnings beat analyst estimates. Almost two years into a turnaround led by Chief Executive Officer Tony Hayward, BP said estimated cost cuts would exceed an earlier target as it increased production to more than 4 million barrels a day.....Complete Story

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Why Weekly Charts Are so Important


Today we are looking into why weekly charts are so important. We will use the EUR/USD as an example and deeply investigate the buy signal we received on this cross on Monday, July 27th.

Although it’s too early to tell if this signal will be profitable, it is certainly a signal you must take if you are a disciplined follower of MarketClub’s “Trade Triangle” technology.

You can watch this video with our compliments and there is no registration requirements.


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Crude Oil Bulls Set to Challenge $70 Level

September crude oil was steady to slightly lower overnight as it consolidates some of the rally off this month's low. Stochastics and the RSI are overbought but remain bullish signaling that sideways to higher prices are possible near term.

If September extends the rally, the reaction high crossing at 74.25 is the next upside target. Closes below the 20 day moving average crossing at 64.81 would temper the near term friendly outlook in the market.

Crude oil's pivot point for Tuesday is 68.25

First resistance is Monday's high crossing at 68.99
Second resistance is the reaction high crossing at 74.25

First support is the 20 day moving average crossing at 64.81
Second support is the reaction low crossing at 63.76


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Natural gas was higher overnight as it consolidates above the 20 day moving average crossing at 3.696. Stochastics and the RSI are turning bearish hinting that a short term top might be in or is near. Closes below the 20 day moving average crossing at 3.696 would temper the near term friendly outlook in the market.

If September extends the rally off this month's low, the reaction high crossing at 4.261 is the next upside target.

First resistance is last Wednesday's high crossing at 4.05
Second resistance is the reaction high crossing at 4.26

First support is the 20 day moving average crossing at 3.70
Second support is this month's low crossing at 3.37

Today’s Stock Market Club Trading Triangles

Monday, July 27, 2009

Waiting for Crude Oil to Reverse to the Downside


My optimal pullback target zone for the PowerShare DB Double Short Oil ETN (NYSE: DTO) is 82.00-79.00, which has been met today. However, so far the inability of the DTO to turn up with sustainability and leave little doubt that the correction off of the 7/13 high at 99.50 is complete is bothersome, and suggests perhaps that more corrective weakness is forthcoming ahead of my anticipation of a powerful upside pivot reversal.
Let’s notice that there is an unfilled gap from July 2 between 77.70 and 76.15 which might have to be satisfied.....Complete Story

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Daily Oil Prices with Anna Coulling

A year after the peak in the commodity cycle, and an all time high for crude oil prices, this week sees all seven of the world's largest private sector oil groups reporting half year results, starting with BP on Tuesday. Although the main focus for oil investors will be to see how successful these companies have been in coping with the subsequent dramatic fall in crude, the recent, and equally dramatic, recovery in daily oil prices will determine the scope that oil companies (and producer countries) will have to fund future investment plans.....Complete Story

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Where is Crude Oil Likely Headed For Tuesday

CNBC's Rebecca Jarvis discusses the day's news in the commodities markets, and looks ahead to where oil is likely headed tomorrow.




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Oil Rises, But Will Rally Continue?

Crude oil on the New York Mercantile Exchange Monday rose again continuing its recent rally. Closing above $68 today, the increase in the price of oil was spurred by positive economic news about US home sales. Settling 33 cents above Friday's close, the price of crude oil rose to $68.38 a barrel in trading Monday on the NYMEX. Just two weeks ago, the price of oil was below $60 in a correction that brought prices down from a high of near $73.....Complete Story


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Oil Majors Appear Poised to Test Mid Term Neutral Resistance Levels


Oil majors appear poised to test mid term neutral resistance levels as we move into a week loaded with earnings reports from the major oil companies. Crude oil closed higher on today extending the rally off this month's low. Profit taking tempered early gains and the mid range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are becoming overbought but remains bullish signaling that sideways to higher prices are possible near term.

If September extends today's rally, the reaction high crossing at 74.25 is the next upside target. Closes below the 20 day moving average crossing at 64.94 would confirm that a short term top has been posted.

First resistance is today's high crossing at 68.99
Second resistance is the reaction high crossing at 74.25

First support is the 20 day moving average crossing at 64.94
Second support is the reaction low crossing at 63.76

Today’s Stock Market Club Trading Triangles

Natural gas closed lower on Monday due to light profit taking but remains above the 20 day moving average crossing at 3.706. The mid range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are turning bearish hinting that a short term top might be in or is near. Closes below the 20 day moving average crossing at 3.706 would temper the near term friendly outlook.

If September extends the rally off this month's low, the reaction high crossing at 4.261 is the next upside target.

First resistance is last Wednesday's high crossing at 4.05
Second resistance is the reaction high crossing at 4.26

First support is the 20 day moving average crossing at 3.71
Second support is this month's low crossing at 3.23

4 FREE Videos from INO TV!

Gasoline Extends Rally to 10 Days, Longest Since at Least 2005


Gasoline futures rose a 10th straight day, the longest rally in the history of the contract, on refinery shutdowns and a weaker dollar, which increases the investment appeal of commodities. Total SA has shut units at its 240,000 barrel a day refinery in Port Arthur, Texas. The dollar fell as low as $1.4298 per euro, the lowest level since June 3. “It seems as if all of a sudden the gasoline market is leading the way and it looks as if nothing is really stopping the rally,” said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut.....Complete Story


How To Spot Winning Futures....See Video NOW

Every So Often......You Get The Key to The Market


Every so often something comes along in the financial world that is very special. Today is one of those days.

The good news is it’s coming from a world class company that has being on the web since 1995, so you know it’s valid.

Here’s what all the buzz is about. We call it INO TV, you may call it your key to profits. Now I don’t say that lightly, making money in the market is serious business and requires specific skills. Arming yourself with these skills is your key to success.

That’s where INO TV comes in.

For a limited time only, we are offering a complimentary pass to INO TV. Why are we doing this? Here’s the reason, we know that you will benefit from all these great skill making trading videos and want to share them with your friends.

If you don’t tell your friends right away they will end up having to pay for the service. That’s where we are going to our make our money. Your friends will have to pay for this service in the future if you don’t tell them about it today.

Here’s the link to the latest trading skills video, you won’t want to miss this one.

California Nixes PXP's Offshore Tranquillon Ridge Project


Plains Exploration & Production Company ("PXP") has announced an update on its Tranquillon Ridge (T-Ridge) project. On July 24, 2009, despite support of California Governor Schwarzenegger and bipartisan approval by the California State Senate, the California State Assembly failed to approve legislation authorizing a path forward for PXP's T-Ridge project. Support for T-Ridge has come from Santa Barbara County, the California State Senate, the Governor and a large environmental coalition, including the Environmental Defense Center, Trust for Public Land, and "Get Oil Out", as well as firefighters and peace officers throughout the state.....Complete Story

Trade Signals Remain Bullish For Crude Oil, Natural Gas SignalsTurning Bearish


Crude oil was higher overnight as it extends the rally off this month's low. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near term.

If September extends the rally, the reaction high crossing at 74.25 is the next upside target. Closes below the 20 day moving average crossing at 64.95 would temper the near term friendly outlook in the market.

Crude oil's pivot point for Monday is 67.57

First resistance is the overnight high crossing at 68.99
Second resistance is the reaction high crossing at 74.25

First support is the 20 day moving average crossing at 64.95
Second support is the reaction low crossing at 63.76

Today’s Stock Market Club Trading Triangles

Natural gas was lower overnight due to profit taking as it consolidates above the 20 day moving average crossing at 3.706. Stochastics and the RSI are turning bearish hinting that a short term top might be in or is near. Closes below the 20 day moving average crossing at 3.706 would temper the near term friendly outlook in the market.

If September extends the rally off this month's low, the reaction high crossing at 4.261 is the next upside target.

The natural gas pivot point for Monday is 3.64

First resistance is last Wednesday's high crossing at 4.05
Second resistance is the reaction high crossing at 4.26

First support is the 20 day moving average crossing at 3.71
Second support is this month's low crossing at 3.37


Get your favorite symbols' FREE Trend Analysis TODAY!

Sunday, July 26, 2009

Crude Oil Rises as Asian Equity Gains May Spur Demand for Fuels

Crude oil rose to the highest in more than three weeks on expectations that gains in Asian equity markets are the precursor to a recovery in the global economy that will spur fuel demand. Oil also gained after investors sought commodities as a hedge against inflation as the dollar traded near a seven week low against the euro. The MSCI Asia Pacific Index climbed 1 percent today, the 10th straight increase and the longest winning streak since January 2004.....Complete Story


Can You Learn to Trade Crude Oil in Just 90 Seconds?

Iraq to Auction Rights to Develop 10 Crude Oil Areas

Iraq said it will auction rights to develop 10 crude oil areas and withdrew the Siba natural gas field from the country’s second bidding round this year, as the Persian Gulf state seeks foreign investors to increase energy production. Potential bidders can receive information on the fields during a one day roadshow in Istanbul on Aug. 25, Abdul Mahdy Al-Ameedi, deputy director general at the Petroleum Contracts and Licensing Directorate, said by telephone today. Iraq, owner of the world’s third largest oil reserves, aims to boost oil output to 6 million barrels a day by 2015 from about 2.4 million barrels now.....Complete Story

Get your favorite symbols' Free Trend Analysis TODAY!

Saturday, July 25, 2009

SP 500 Update: Trade Triangle Video Analysis


With the S&P 500 making new highs and as world equity markets following suit, the question becomes how high can we go?

In this short video on the S&P 500, we outline some mathematical upside target zones that we am looking at for this market.

You can watch this video with our compliments and there is no registration requirements. We would love to get your feedback so please feel free to leave a comment and let our readers know how high you think the S&P can go.

Here is 4 more FREE Videos from INO TV!

How to Use Money Management Stops Effectively


Stops are enormously important part of a traders arsenal of trading tools. Some traders confirm that stops are the most important part of their trading armour.

So here are three ways to use stops to protect your capital and lock in profits from a trade. These three money management techniques can be used in stock, futures and forex trading.

Click Here For A Video Version of This Lesson

The important rule is that you do use a real stop in the marketplace. A friend of mine joked with me that that he had never seen a “mental stop” filled electronically or in the pits.

If the market is good your stop will not be hit. If the market is bad or changing direction then you’ll want to be out of it anyway. That is why stops are so crucial to trading success.

Here are the three most commonly used types of stops. Which one do you use?
(1) Dollar stop.
(2) Percentage stop.
(3) Chart stop.
If you chose (1) you’d be correct, but, you would also be correct if you had chosen 2 or 3. All three are money management stops and are used to either lock in profits or protect capital.
————————————————–
1) A dollar stop, is when you set a predetermined dollar amount to a trade. Let’s say you want to risk $500 on a grain trade or $750 on a stock trade. Once you get your fill back from your broker or electronically online you simply figure from your fill price where to put your stop.

Pros: Easy to implement and use.
Cons: Can place stops too close in a volatile market
————————————————–
2) Percentage stop, is a very simple way for you to place a stop on a position. Here’s how it works. Let’s say your trading account is 100,000 dollars and let’s say you only want to risk 1% of your total portfolio on any one trade. You simply take a $1,000 risk which represents 1% of your over all portfolio. This can help enormously in avoiding taking BIG LOSSES. A 1% loss is easy to absorb. A 30% or 40% loss in a trade is an account killer, and should be avoided at all costs.

Pros: Easy to implement and use.
Cons: Can place stops too close.
————————————————–
3) Chart stop, a chart stop is where you place a stop that is either above or below a crucial chart level. The good thing about a chart stop is that this level is often used by other traders. That can both be a good thing and a bad thing, here’s why. Using either one of our first two examples only you know where the stop is. With a chart stop, a great many traders/brokers know that is where the stops are. In an illiquid market this type of stop should not be used, as many times brokers gun for the stops. In a highly liquid and active market this is a good stop to use.

Pros: Very easy to implement and use.
Cons: Can’t be used in thinly traded markets.
————————————————–
So there you have it. Now you have all three ways to manage your money and protect your profits in the future.

Use stops.....let them work for you.

Click Here For A Video Version of This Lesson

A special thanks goes out to guest blogger Adam Hewison

Friday, July 24, 2009

Where is Oil Headed Next Week

CNBC's Sharon Epperson discusses the day's activity in the commodities markets, and looks at where oil is likely headed next week.





How To Spot Winning Futures

High Range Crude Oil Close Sets Stage For Higher Open Monday

Crude oil closed higher on Friday extending Thursday's breakout above the 20 day moving average crossing at 65.13. The high range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near term.

If September extends this week's rally, the reaction high crossing at 74.25 is the next upside target. Closes below the 10 day moving average crossing at 64.25 would confirm that a short term top has been posted.

First resistance is today's high crossing at 68.18
Second resistance is the reaction high crossing at 74.25

First support is the 20 day moving average crossing at 65.13
Second support is the 10 day moving average crossing at 64.25

Free trade school video "Using Volatility In Your Market Analysis"

Natural gas closed higher on Friday as it consolidates above the 20 day moving average crossing at 3.721. The high range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near term.

If September extends the rally off last week's low, the reaction high crossing at 4.261 is the next upside target. Closes below the 10 day moving average crossing at 3.721 would temper the near term friendly outlook.

First resistance is Wednesday's high crossing at 4.05
Second resistance is the reaction high crossing at 4.26

First support is the 10 day moving average crossing at 3.72
Second support is last Monday's low crossing at 3.23

Free trade school video "How to Use Money Management Stops Effectively"

Schlumberger Profit Falls as Clients Slash Budgets

Schlumberger Ltd., the world’s largest oilfield-services provider, said second-quarter profit fell 57 percent after a plunge in energy prices prompted petroleum producers to cut spending. Net income dropped to $613 million, or 51 cents a share, from $1.42 billion, or $1.16, a year earlier, Schlumberger, based in Houston and Paris, said today in a statement. Excluding costs for job cuts, profit was 68 cents a share, 4 cents higher than the average of 24 analyst estimates compiled by Bloomberg. Sales fell 18 percent to $5.53 billion.....Complete Story



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Occidental Moves Fast, Keeps Mum on Oil Discovery


As new details emerged Thursday about Occidental Petroleum Corp.'s discovery of a large new oil field in Kern, local oilmen voiced optimism that the find could stimulate local drilling work -- including among independents hoping to strike it rich.
Oil producers anxious to learn the field's location still had little to go on, though a spokesman for Chevron, indicated late Thursday that it's in western Kern County. Chevron owns a 20 percent stake in the find. Earlier in the day, Los Angeles-based Oxy suggested that it plans to move quickly to tap the field, drilling an additional 17 wells (costing roughly $4 million apiece) this year.....Complete Story

Can you learn to trade crude oil in 90 seconds?

Daily Oil Prices From Master The Markets

The positive correlation between the price of crude and equity markets continues apace with the Dow finally breaching and holding above the 9000 level for the first time since January. This mutual admiration seems determined to ignore the weak oil market fundamentals which has seen gasoline and distillate stocks in the US increasing for a straight sixth week and with unemployment in the US still rising it is difficult to see how quickly this surplus is likely to be consumed. From a technical perspective yesterday's candle on the daily oil prices chart.....Complete Story

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Crude Oil Bulls Still Have Near Term Advantage, Natural Gas May Be Topping

Crude oil traded higher overnight as it extended Thursday's breakout above the 20 day moving average crossing at 65.10. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near term.

If September extends this week's rally, the reaction high crossing at 74.25 is the next upside target. Closes below the 10 day moving average crossing at 64.19 would temper the near term friendly outlook in the market.

Crude oil's pivot point for Friday, our line in the sand is 66.20

First resistance is the overnight high crossing at 67.68
Second resistance is the reaction high crossing at 74.25

First support is the 20 day moving average crossing at 65.10
Second support is the 10 day moving average crossing at 64.19

Free Trade School Video:The #1 Predictor of Inflation or Deflation.

Natural gas was higher overnight due to short covering as it consolidates some of Thursday's decline. Stochastics and the RSI are turning neutral to bearish hinting that a short term top might be in or is near.

Closes below the 10 day moving average crossing at 3.711 would temper the near term friendly outlook in the market. If September extends the rally off this month's low, the reaction high crossing at 4.261 is the next upside target.

Friday's pivot point for natural gas is 3.65

First resistance is Wednesday's high crossing at 4.05
Second resistance is the reaction high crossing at 4.26

First support is the 10 day moving average crossing at 3.71
Second support is this month's low crossing at 3.37

A Good Trading Education = a Good Trader = Good Profits….Watch INO TV

Thursday, July 23, 2009

Oil Falls From a Three Week High on Faltering Economic Recovery


Crude oil fell from a three week high after U.S. stock futures eased on weaker than expected company earnings, renewing concern the recovery from the global recession may falter. Oil has increasingly moved in tandem with the Dow Jones Industrial Average. The two are showing a correlation of 0.7 in the past month, up from 0.06 in the month to Dec. 31, according to data compiled by Bloomberg. U.S. gasoline and distillate fuel inventories climbed for a sixth week, signaling demand in the world’s largest energy user has been slow to rebound.....Complete Story

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Sharon Epperson: Where is Oil Headed on Friday

CNBC's Sharon Epperson discusses the day's activity in the commodities markets, and looks to where oil is likely headed tomorrow.





How To Spot Winning Futures, Watch Video NOW

Halliburton to Drill 170 Chicontepec Wells for $169MM


Oilfield services giant Halliburton Co. has won a $169 million contract to drill 170 wells Mexico's Chicontepec region, its first major project in the area, Petroleos Mexicanos said Thursday. Pemex, as the state oil company is known, has also awarded four contracts for about 140 wells each to local drillers, expanding its pool of suppliers for the expensive project. The new contracts underscore Pemex's efforts to accelerate spending and stabilize falling oil production, down by a fifth since peaking in 2004......Complete Story

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Scaling Into the Natural Gas UNG ETF


After this morning’s marginal new recovery high at 14.00, the U.S. Natural Gas Fund ETF (NYSE: UNG) reversed to the downside in reaction to “in-line” inventory data, which pressed indices to an intraday low so far at 13.25. We initiated a 25% long position in our model portfolio at 13.32. If the UNG is unable to consolidate and lift off from the 13.30/25 area, then I will be looking for another loop down towards 13.00, where we will add another 25% long position.....Complete Article

Today’s Stock Market Club Trading Triangles

Crude Oil Bulls Gain Technical Upside Momentum

Crude oil closed up $1.82 at $67.23 a barrel today. Prices closed near the session high and hit a fresh three week high today as bulls did gain some fresh upside technical momentum amid a rallying U.S. stock market. Bulls have the near term technical advantage. A two week old uptrend is in place on the daily bar chart.

Natural gas closed down 21.3 cents at $3.727 today. Prices closed nearer the session low. The bears are still in technical control and gained fresh downside momentum today. The fact that natural gas could not rally amid a general commodity market rally today is a bearish clue.

The U.S. dollar index closed up 9 points at 78.95 today. Prices closed nearer the session high in quieter trading. Short covering in a bear market was featured. Prices hit a fresh nine month low again today. Bears still have the overall near term technical advantage.

Trade School Video "The Fibonacci Tool Fully Explained"

Technical Analysis From Barclays: Oil Set to Fall on Spreads

Brent crude oil is likely to fall below $63 a barrel “in the next few weeks” as the spread between long term contracts widens, according to technical analysts at Barclays Capital. The discount for buying Brent contracts for delivery in December 2009 compared with December 2010 increased today to the most in more than two months. The spread, expressed as a negative number when the market is in contago, is now beneath a trend line connecting the low points during 2009. That may trigger further selling of Brent futures, analysts at the investment bank of Barclays Plc said yesterday in a report.....Complete Story

Oil Stays Above $65, Natural Gas Continues to Rise

Crude oil for September delivery fell slightly to settle above $65 Wednesday on the New York Mercantile Exchange. The price of oil today was tempered by less than stellar numbers coming out of the EIA. Crude oil for September delivery closed at $65.40 Wednesday on the NYMEX, a drop of 21 cents from yesterday’s close. While August deliveries expired yesterday, closing at $64.72, the price of September deliveries closed higher on Tuesday at $65.61.....Complete Story

Crude Oil Declines a Second Day After Fuel Inventories Increase

Crude oil for September delivery declined a second day in New York as rising U.S. fuel inventories dampened optimism for a swift rebound in demand. Gasoline and distillate fuel inventories in the U.S. rose in the week to July 17, the sixth consecutive
increase, while crude supplies fell, according to an Energy Department report yesterday. Japan’s oil imports fell for an eighth month in June. “Demand is weak, and spare capacity is the largest it’s ever been,” said Eugen Weinberg, an analyst at Commerzbank AG in Frankfurt.....Complete Story

Today’s Stock Market Club Trading Triangles

Wednesday, July 22, 2009

Energy Market Commentary For Wednesday Evening

September crude oil closed down $0.36 at $65.25 a barrel today. Prices closed nearer the session high. Bulls still have the near term technical advantage. A two week old uptrend is in place on the daily bar chart.

September natural gas closed up 11.6 cents at $3.962 today. Prices closed nearer the session high and hit a fresh three week high today. Short covering in a bear market was featured. The bears are still in technical control.

September (RBOB) unleaded gasoline closed up 191 points at $1.8150 today. Prices closed nearer the session high today. A two week old uptrend is in place on the daily bar chart.

The September U.S. dollar index closed down 18 points at 78.91 today. Prices closed nearer the session low. Prices hit a fresh nine month low again today. Bears still have the overall near term technical advantage.

Complimentary Trend Analysis For Stock, Futures, And Forex

NYMEX Crude Steadies Above $65

Gaining on the New York Mercantile Exchange for the sixth day in a row, crude oil rallied above $65 on Wednesday as earnings reports continue to beat Wall Street's expectations and government data released today shows crude oil supplies were down last week. U.S. crude oil futures for September delivery settled at $65.40, or 68 cents higher than Tuesday's close. Also gaining, London Brent crude climbed above $65 in seesaw trading, finally closing at more than $67 per barrel.....Complete Story

New Video: What's the best strategy for USO?

In today's video we analyze the popular crude oil ETF USO. We want to look at how you could have made money if you relied on the Market Club "Trade Triangle" technology. The video is free and requires no registration.

Just click here to enjoy the video!

Please feel free to leave a comment and let our readers know what you think the direction of the USO is. You are also welcome to join the discussion at our new Facebook Group the Crude Oil Trader.

Natural Gas Futures Gain on Signs of Small Stockpile Increase Share

Natural gas futures advanced in New York on speculation a report tomorrow will show a slowing pace of U.S. stockpile gains. Gas inventories probably rose 66 billion cubic feet last week, based on the median of eight analyst estimates compiled by Bloomberg. An increase of that amount would be the smallest since April 17. Stockpiles normally rise between April and November as utilities prepare for higher demand in the winter.
“This week it’s a very different number,” said Teri Viswanath, director of commodities research at Credit Suisse Securities USA in Houston.....Complete Story

Can you learn to trade Crude Oil in just 90 seconds?

Citigroup Recommends Investment in Mexican Oil Giant

Banking giant Citigroup recommends investment in Mexican state run oil company Petroleos Mexicanos (Pemex) via its dollar denominated bonds. The firm urged investors to "hold" the bonds, reversing a previous recommendation to sell, Mexican media reported on Monday. However, the Citigroup did not give its highest rating of "overweight" to Pemex because of some negative operating data, the bank said in a report. Pemex's biggest oil field, Cantarell, has now had five consecutive years of production declines, bringing the company's overall production to its lowest level in 16 years.....Complete Story

Oil Headed Lower on Major Bank Earnings Reports

Crude oil was higher overnight as it extended the rally off last week's low and was challenging the 20 day moving average crossing at 64.67. But is now headed lower as worse then expected earnings from the major banks are giving traders concerns over future demand. Stochastics and the RSI are bullish signaling that sideways to higher prices are still possible near term.

Closes above the 20 day moving average crossing at 64.67 are needed to confirm that a short term low has been posted. Closes below the 10 day moving average crossing at 61.54 would temper the near term friendly outlook in the market. If August renews the decline off June's high, the 62% retracement level of the February-June rally crossing at 54.97 is the next downside target.

Crude oil's pivot point, our line in the sand is 65.41

First resistance is the 20 day moving average crossing at 64.67
Second resistance is the overnight high crossing at 65.53

First support is the 10 day moving average crossing at 61.54
Second support is the reaction low crossing at 58.32

Free Trade School Video "How to Use Money Management Stops Effectively"

Natural gas was steady to slightly higher overnight as it consolidates above the 20 day moving average crossing at 3.62. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near term.

If August extends the rally off this month's low, the reaction high crossing at 4.138 is the next upside target. Closes below the 10 day moving average crossing at 3.520 would temper the near term friendly outlook in the market.

Wednesday's pivot point for natural gas is 3.68

First resistance is last Friday's high crossing at 3.79
Second resistance is the reaction high crossing at 4.14

First support is the 20 day moving average crossing at 3.62
Second support is the 10 day moving average crossing at 3.52

Complimentary Trend Analysis For Stock, Futures, And Forex

Tuesday, July 21, 2009

Where Is Oil Headed on Wednesday

CNBC's Sharon Epperson discusses the day's activity in the commodities markets, and looks ahead to where oil is likely headed on Wednesday.




Great Educational Video "Double Tops and Pivot Points Explained"

Natural Gas Ready To Rebound

Kent Croft, co-manager of the Croft Value Fund, says natural gas is too cheap to ignore. His favorite stocks include Southwestern Energy, Ultra Petroleum and Williams Cos.



New Video: UNG, An ETF That Closely Tracks Natural Gas

Oil Gains for 5th Day, Natural Gas Sees Potential

After choppy trading Tuesday, crude oil was able to make gains again on the New York Mercantile Exchange. With intra-day trading topping $65, oil prices eventually settled just below that. Crude oil settled at $64.72 a barrel in trading on the NYMEX Tuesday, a bump of 74 cents from Monday's close. Despite some volatile trading during the day and the expiration of the August deliveries, crude oil was able to continue its recent rally for the fifth day in a row."It seesawed pretty dramatically, and then the market did rebound strongly as we went into the last half-hour for expiration; and I think that helped boost oil prices to its fifth consecutive day gains,".....Complete Story

Complimentary Trend Analysis For Stock, Futures, And Forex

Profit Taking Tempers Early Gains in Crude Oil, Natural Gas Closes Higher


Crude oil closed higher on Tuesday and above the 20 day moving average crossing at 64.67. Profit taking tempered early gains and the mid range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near term.

Multiple closes above the 20 day moving average crossing at 64.67 would confirm that a short term low has been posted while opening the door for a larger degree rebound during the last half of July. Closes below the 10 day moving average crossing at 61.54 would temper the near term friendly outlook in the market.

First resistance is today's high crossing at 65.53
Second resistance is the reaction high crossing at 73.38

First support is the 10 day moving average crossing at 61.54
Second support is last Monday's low crossing at 58.32

Learn To Trade Crude Oil in Just 90 Seconds

Natural gas closed higher on Tuesday as it consolidates above the 20 day moving average crossing at 3.627. The high range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near term.

If August extends the rally off last week's low, the reaction high crossing at 4.138 is the next upside target. Closes below the 10 day moving average crossing at 3.483 would temper the near term friendly outlook.

First resistance is last Friday's high crossing at 3.79
Second resistance is the reaction high crossing at 4.14

First support is the 10 day moving average crossing at 3.48
Second support is last Monday's low crossing at 3.23

4 FREE Trading Videos from INO TV!

Crude Oil, Gasoline Rise as Earnings Signal Recession Is Easing


Crude oil rose and gasoline climbed a sixth day, the longest stretch since January, as better than expected earnings at Caterpillar Inc. signaled the recession may be easing in the world’s biggest fuel consuming country. Oil increased as stimulus programs and improved credit markets bolstered profits at the biggest maker of earth moving equipment. Per share earnings beat projections by an average of 14 percent for the 70 companies in the S&P 500 that reported quarterly results since July 8. U.S. crude oil supplies probably fell last week.....Complete Story

New Video: UNG, An ETF That Closely Tracks Natural Gas

In today’s video we will be looking at an ETF that closely tracks the natural gas market. The United States Natural Gas Fund (PACF_UNG) is one of the more popular energy ETFs and a could be a great market to add to your portfolio as the “Trade Triangles” are catching profits from the spectacular moves.

In this short video I’m going to show you how our “Trade Triangle” Technology outperformed one of the smartest investors on the planet. I am of course referring to the legendary oilman T. Boone Pickens. I’m using his own results for his hedge fund BP Capital Management LP.

Check out his results here. Starting from March of 2008 with our results starting at the same time. I will let you draw your own conclusions on this one.

You can watch this video with our compliments Just Click Here!


Crude Oil Higher Overnight, Testing 20 Day Moving Average

Crude oil was higher overnight as it extends last week's rally but remains below the 20 day moving average crossing at 64.65. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near term.

Closes above the 20 day moving average crossing at 64.65 are needed to confirm that a short term low has been posted. If August renews the decline off June's high, the 62% retracement level of the February-June rally crossing at 54.97 is the next downside target.

Crude oil's pivot point for Tuesday is 65.17

First resistance is the 20 day moving average crossing at 64.65
Second resistance is Monday's high crossing at 64.90

First support is the 10 day moving average crossing at 61.49
Second support is the reaction low crossing at 58.32



Natural gas was lower due to profit taking overnight as it consolidates some of its recent gains but remains above the 20 day moving average crossing at 36.23. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near term.

If August extends the rally off this month's low, the reaction high crossing at 4.138 is the next upside target. Closes below the 10 day moving average crossing at 3.476 would temper the near term friendly outlook in the market.

Tuesday's pivot point for natural gas is 3.65

First resistance is last Friday's high crossing at 3.79
Second resistance is the reaction high crossing at 4.14

First support is the 10 day moving average crossing at 3.48
Second support is last Monday's low crossing at 3.23

Monday, July 20, 2009

Oil to Rise Above $65 After Support Holds

Crude oil may extend gains above $65 a barrel as an indicator of technical momentum suggests the market has rebounded after failing to break support levels last week, according to National Australia Bank Ltd. The Moving Average Convergence-Divergence oscillator on the weekly continuation chart is “a whisker away” from turning positive, said Gordon Manning, a Sydney based technical analyst. Technical buyers usually step in when the MACD rises above its signal line, a so called bullish crossover.....Complete Story

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Halliburton 2Q Earnings Plummet, Beat Expectations


Halliburton said Monday its second quarter profit tumbled 48 percent as sluggish exploration and production activity, particularly in North America, crimped results. Its earnings beat Wall Street forecasts, though the company offered little hope for an uptick in drilling before year's end. The oilfield services company, which has corporate headquarters in Houston and Dubai, said net income for the April-June period fell to $262 million, or 29 cents per share. That compared with $504 million, or 55 cents a share, a year ago.....Complete Story

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