Six Attacks on Natural Gas Pipelines.....IN CANADA!

A series of bombings of natural gas pipelines in northeastern British Columbia in Canada are "domestic terrorism," authorities said. The first attack was reported in early October. This past weekend, the Royal Canadian Mounted Police confirmed a sixth bombing caused a leak in an EnCana Corp. line south of Dawson Creek, British Columbia. No one has been injured in the bombings, but they have caused leaks that could prove hazardous, authorities said.....Complete Story

Get your favorite symbols' Trend Analysis TODAY! Click Here

Oil Plunges Below $64 on Fears Recovery May Lag

Oil prices plunged nearly $3 to below $64 a barrel Monday as dismal unemployment figures from the U.S. and Europe last week sparked investor doubts about any nascent economic recovery. A significant fall in natural gas prices - a likely sign that industries are still struggling and unlikely to add jobs - as well as gains by the U.S. dollar and falling stock markets around the world all helped push energy prices lower.....Complete Story

Crude Oil Hits New Six Week Low Overnight

Crude oil prices are sharply lower early today, and hit a fresh six week low overnight. Bulls have faded badly recently.

In August crude, look for buy stops to reside just above resistance at $64.00 and then just above resistance at $65.00.

Look to sell stops just below technical support at the overnight low of $63.40 and then more sell stops just below support at $63.00.

Today's key near term Fibonacci support/resistance level: $62.31.
Wyckoff's Intra Day Market Rating: 3.0

Free Trend Analysis

The September U.S. dollar index is higher in early trading today. Trading is still choppy, but bears still have the overall near term technical edge.

Slow stochastics for the dollar index are bullish early today. The dollar index finds shorter term technical resistance at 81.25 and then at 81.50. Shorter term support is seen at 80.75 and then at the overnight low of 80.53.

Today's key near term Fibonacci support/resistance level: 80.42.
Wyckoff's Intra Day Market Rating: 6.0

Great Trading Video: The Fibonacci Tool Fully Explained

Crude Oil Falls on Dollar Advance, Speculation of Supply Gains

Crude oil fell to the lowest in five weeks on a stronger dollar and speculation U.S. fuel inventories will increase as the recession curbs demand in the world’s biggest energy consuming country. Oil and commodities including gold declined as the dollar climbed against the Euro, limiting investor appetite for assets to hedge against inflation. Eighteen of 37 analysts surveyed by Bloomberg News, or 49 percent, said oil futures will decline through July 10.....Complete Story

Crude Oil Lower Overnight, Lower Prices Possible

Crude oil was lower due to profit taking overnight and trading below the 10 day moving average crossing at 69.33 tempering the near term friendly outlook. Stochastics and the RSI are turning bearish again signaling that sideways to lower prices are possible near term.

Closes below the reaction low crossing at 66.37 would renew the decline off June's high while opening the door for a possible test of the 38% retracement level of the February-June rally crossing at 62.25.

If August renews the rally off June's low, June's high crossing at 73.90 is the next upside target.

Thursday's pivot point, our line in the sand is 69.86

First resistance is the 20 day moving average crossing at 70.33
Second resistance is Tuesday's high crossing at 73.38

First support is the overnight low crossing at 67.72
Second support is the reaction low crossing at 66.37

4 FREE Videos for INO TV! Click Here

Crude Oil Falls a Third Day on Forecast U.S. Shed More Jobs

Crude oil fell for a third day before a report forecast to show the U.S. unemployment increased last month, signaling the world’s largest energy user remains mired in recession. U.S. fuel demand in the four weeks ended June 26 fell 5.8 percent from a year earlier, while demand for distillate fuel including heating oil and diesel, fell 9.4 percent, according to a Department of Energy report yesterday. The Labor Department will likely report the U.S. shed an additional 365,000 jobs in June, a Bloomberg survey showed.....Complete Story

Trade Crude in 90 Seconds Click Here

Crude Oil Is Little Changed After Falling on Weak Fuel Demand

Crude oil traded little changed after falling in the past two days, as demand for gasoline and diesel in the U.S. remained weak during the recession. Fuel demand in the world’s largest energy user in the four weeks ended June 26 fell 5.8 percent from a year earlier, according to a Department of Energy report yesterday. Demand for distillate fuel including heating oil and diesel fell 9.4 percent to 3.4 million barrels a day during the period.....Complete Story

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

Natural Gas Set Up For Lower Opening on Thursday

Natural gas closed lower on Wednesday as it extended the decline off June's high. The low range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term.

If August extends this week's decline, the reaction low crossing at 3.710 is the next downside target. From a broad perspective, August needs to close above 4.820 or below 3.520 to confirm a breakout of this spring's trading range and point the direction of the next trending move.

First resistance is the 10 day moving average crossing at 4.01
Second resistance is the reaction high crossing at 4.57

First support is today's low crossing at 3.76
Second support is the reaction low crossing at 3.71

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

Crude Oil Closes Lower After Whipsaw Day of Trading

Crude oil closed lower due to profit taking on Wednesday as it extended Tuesday's decline. The low range close sets the stage for a steady to lower opening on Thursday.

Despite today's setback stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near term. Closes above the reaction high crossing at 72.85 are needed to confirm that a short term low has been posted.

If August crude oil renews last week's decline, the 38% retracement level of this spring's rally crossing at 62.25 is the next downside target.

First resistance is Tuesday's high crossing at 73.38
Second resistance is this month's high crossing at 73.90

First support is last Tuesday's low crossing at 66.37
Second support is the 38% retracement level at 62.25

4 FREE Videos for INO TV! Click Here

Oil and Gasoline Fall on Bigger Than Forecast Fuel Supply Increase

Crude oil and gasoline fell after a U.S. government report showed that fuel supplies in the world’s biggest energy consuming country rose more than forecast. Gasoline stockpiles increased 2.33 million barrels to 211.2 million in the week ended June 26, the Energy Department said. Inventories were estimated to rise by 2 million barrels, according to a Bloomberg News survey. Stockpiles of distillate fuel, a category that includes diesel and heating oil.....Complete Story

Get your favorite symbols Trend Analysis TODAY! Click Here