Archive | Technicals

8320 Should Cap Crude

60 Minute Bars Prepared by Jamie Saettele “Crude has traded sideways for the past several weeks and I cannot yet rule out a move above 8080 in order to complete a complex correction (W-X-Y) from 6966. Resistance would be at 8318. The larger trend is down…the question is whether or now price will exceed 8080 […] [...more]

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Crude Oil Uptrend Intact, Gold Win Streak Ends

Crude oil is holding onto this week’s solid gains ahead of Friday’s U.S. nonfarm payrolls numbers. The commodity remains close the top of an 11-month range. Gold’s win streak finally ended on Thursday, but the metal has been strong this week. Commodities – Energy Crude Oil Uptrend Intact Crude Oil (WTI) $82.07 +$0.06 +0.07% Commentary: […] [...more]

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Crude’s Breakout Run Stalled as Market Caught in the Pull of NFPs’ Gravity

Given the light mix of scheduled event risk today, the heavy round of data scheduled for tomorrow and a notable pause in risk appetite trends; it should come as no surprise that crude would win little progress. North American Commodity Update Commodities – Energy Crude’s Breakout Run has Stalled as Market Caught in the Pull […] [...more]

Technicals Comments Off on Crude’s Breakout Run Stalled as Market Caught in the Pull of NFPs’ Gravity

8320 Should Cap Crude

60 Minute Bars Prepared by Jamie Saettele “Crude has traded sideways for the past several weeks and I cannot yet rule out a move above 8080 in order to complete a complex correction (W-X-Y) from 6966. Resistance would be at 8318. The larger trend is down…the question is whether or now price will exceed 8080 […] [...more]

Technicals Comments Off on 8320 Should Cap Crude

Light Crude

60 Minute Bars Prepared by Jamie Saettele “Crude has traded sideways for the past several weeks and I cannot yet rule out a move above 8080 in order to complete a complex correction (W-X-Y) from 6966. Resistance would be at 8318. The larger trend is down…the question is whether or now price will exceed 8080 […] [...more]

Technicals Comments Off on Light Crude

Crude Oil Holdings Steady Despite Elevated Inventories, Gold Win Streak Reaches Six

Petroleum inventories in the U.S. are now at 10-year highs, while gasoline and distillate inventories are at record seasonal levels. Nevertheless, crude oil continues to hold firm on optimism regarding emerging market growth and the consequent impact on oil demand. Gold tested $1200, but backed down. Commodities – Energy Crude Oil Holds Steady Despite Elevated […] [...more]

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Crude Oil Inventories Watch: Week Ending 07/30/2010

The Department of Energy reported that in the week ending July 23, 2010, US crude oil inventories decreased by 2.8 million barrels, gasoline inventories increased by 0.7 million barrels, distillate inventories increased by 2.1 million barrels, and total petroleum inventories increased 6.1 million barrels. Total petroleum inventories are now above the year ago level and […] [...more]

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US Growth Potential is Offset by Chinese Stress Test Fears and Inventory Numbers to Freeze Oil Prices

Energy traders were not lacking for fundamental fodder upon which they could determine their positioning and conviction. However, as it would happen, there were two diametrically opposing brands of event risk that would lead the commodity to trade relatively unchanged for the day North American Commodity Update Commodities – Energy US Growth Potential is Offset […] [...more]

Technicals Comments Off on US Growth Potential is Offset by Chinese Stress Test Fears and Inventory Numbers to Freeze Oil Prices

Light Crude

60 Minute Bars Prepared by Jamie Saettele “Crude has traded sideways for the past several weeks and I cannot yet rule out a move above 8080 in order to complete a complex correction (W-X-Y) from 6966. Resistance would be at 8318. The larger trend is down…the question is whether or now price will exceed 8080 […] [...more]

Technicals Comments Off on Light Crude

Crude Oil Approaches Key Highs, Gold Wins Despite Investor Liquidation

Crude oil advanced further above $80, as the commodity shrugged off weak U.S. economic data and a selloff in equity markets. Likewise, gold shrugged off a notable drop in ETF holdings to register its fifth gain in as many sessions. Commodities – Energy Crude Oil Approaches 11-Month Highs Crude Oil (WTI) $82.37 -$0.18 -0.22% Commentary:Despite […] [...more]

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