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?
Wednesday, July 22, 2009
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
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.
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
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
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
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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!
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
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
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