Billion dollar Unicorns are more evident today than when Noah was filling the ARK. The speed at which companies are becoming uber valuable is flat out amazing. Surprising yes, unless one was smart enough to understand how the internet, and software was connecting people in ways that only few ascertained.
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.
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.
Brent crude oil (BNO, quote) was steady above $108 as encouraging data from the world’s top two consumers helped raise the global demand outlook.
Whilst commodities such as nickel and coffee have been offering longer term investors excellent returns this year, and with soybeans set to join the party with some good rollover returns, crude oil has promised much but delivered little.
Early morning stocks that are trending in the U.S. pre-market this morning are:
U.S. futures are riding yesterday’s momentum of positive U.S. economic data refueling speculation the Federal Reserve may opt to taper its $85 billion stimulus program sooner rather than later.
And so the bullish trade returns. The up-down-up-down pattern that has developed over the past week continued yesterday in WTI and cast a positive light on an otherwise neutral-appearing chart. Brent appears similar, but couldn’t get much of a rally going yesterday.
Oil prices may hold within a sideways trading direction this week, as the short-term rally contends with a building bearish divergence on the daily stochastics oscillator.
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