Whilst fundamentals and weather play a huge role in driving the price action for natural gas, the technical picture is now increasingly taking center stage as we move into the warmer months of the year and the commodity responds accordingly.
The resource-rich Xinjiang Uygur autonomous region in western China will become the center of state-owned energy companies’ reform this year with the launch of a pilot project by the country’s biggest oil and gas producer in the area.
Regular readers of my market analysis will know that I have been bearish on gold for some time, and despite the recent bullish trend which has seen gold move from the lows of $1170 per ounce to the high of late January at $1310 per ounce, have remained so.
For speculative traders, the last few weeks have offered wonderful trading opportunities across all markets, and provided you have no directional bias, the opportunities are there in abundance.
AUDUSD broke above 0.8214 resistance, indicating that consolidation of the downtrend from 0.8910 (Oct 29, 2014 high) is underway.
As we come to the end of 2014 and look forward to 2015, for those trading and investing in gold the perspectives and conclusions will no doubt be very different and entirely dependent on whether you are a longer term investor in the precious metal, or a short term speculator.
As we come to the end of another trading year, very few traders would have believed oil would be centre stage along with the US dollar, and as the star of the currency of first reserve continues to shine brightly, that of crude oil continues to flicker and fade as OPEC maintains its policy of taking on the alternative energy providers head on.
AUDUSD remains in downtrend from 0.8795, the rise from 0.8087 is likely consolidation of the downtrend.
This week, Russian President Vladimir Putin assured markets that the Russian economy could withstand the drop in prices despite the ruble’s recent fall.
Mohit Jayachandran is breathing a sigh of relief. The 30-year-old engineer with Fluor Daniel, a multinational engineering and project management company in Gurgaon, near India’s capital New Delhi, says he will be having a decent end-of-year vacation this time, after a long year.
