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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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

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

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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



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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

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.