Showing posts with label stoch. Show all posts
Showing posts with label stoch. Show all posts

Tuesday, October 4, 2011

Crude Oil, Natural Gas and Gold Market Commentary For Tuesday Morning October 4th

Crude oil was lower overnight and trading below key support marked by August's low crossing at 76.61. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near term. If November extends last week's decline, the 75% retracement level of the 2009-2011 rally crossing at 72.20 is the next downside target. Closes above the 20 day moving average crossing at 84.56 are needed to confirm that a short term low has been posted.

First resistance is the 10 day moving average crossing at 80.70. Second resistance is the 20 day moving average crossing at 84.56. First support is the overnight low crossing at 75.84. Second support is the 75% retracement level of the 2009-2011 rally crossing at 72.20. Crude oil pivot point for Tuesdays trading is 77.83.

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November Henry natural gas was slightly lower overnight as it extends the decline off June's high. Stochastics and the RSI are oversold but remain bearish signaling that sideways to lower prices are possible near term. If November extends the aforementioned decline, monthly support crossing at 3.225 is the next downside target. Closes above the 20 day moving average crossing at 3.874 are needed to confirm that a short term low has been posted.

First resistance is the 10 day moving average crossing at 3.752. Second resistance is the 20 day moving average crossing at 3.874. First support is Monday's low crossing at 3.591. Second support is monthly support crossing at 3.225. Natural gas pivot point for Tuesdays trading is 3.636.

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December gold was higher in overnight trading as it rebounds off last week's low. Stochastics and the RSI have turning bullish hinting that a short term low might be in or is near. Closes above the 20 day moving average crossing at 1740.20 are needed to confirm that a short term low has been posted. If December renews this month's decline, the 38% retracement level of the 2008-2011 rally crossing at 1476.20 is the next downside target.

First resistance is the 10 day moving average crossing at 1661.50. Second resistance is the 20 day moving average crossing at 1740.10. First support is last Monday's low crossing at 1535.00. Second support is the 38% retracement level of the 2008-2011 rally crossing at 1476.20. Gold pivot point for Tuesday morning is 1648.20.

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Thursday, October 28, 2010

Crude Oil Technical Outlook For Thursday Morning Oct. 28th

Crude oil was higher due to short covering overnight as it consolidates some of Wednesday's decline. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near term.

Closes above the reaction high crossing at 84.80 are needed to confirm that a short term low has been posted. If December renews last week's decline, trendline support drawn off the August-September lows crossing near 78.57 is the next downside target.

First resistance is Monday's high crossing at 83.28
Second resistance is the reaction high crossing at 84.80

Crude oil pivot point for Thursday morning 81.72

First support is last Wednesday's low crossing at 79.90
Second support is the uptrend line drawn off the August-September lows crossing near 78.57


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Tuesday, September 28, 2010

Crude Oil's Time of the Year

The Fast Money guys and gal discuss the nature of the energy trade in October. Is it time for crude oil to rally?



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Monday, September 20, 2010

Whiting Petroleum Launches $350M Note Offer

Whiting Petroleum Corp. said Monday it has launched a public offering of $350 million in senior subordinated notes to repay other outstanding debt. The notes will be due in 2018. Banc of America Securities, J.P. Morgan Securities and Wells Fargo Securities are the joint book-running managers.

Whiting explores for oil, and natural gas in several parts of the U.S. Its largest projects are in North Dakota, Oklahoma and Texas. The shares rose $3.50, or 3.8 percent, to $96.28 in regular trading before the announcement. In extended trading, they added 3.8 percent to $96.28.

Courtesy The Associated Press


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