For oil traders and speculators the summer months continue to deliver stellar trading opportunities, and whilst equity investors are wringing their hands, the WTI contract shows no signs of wanting to reverse just yet.
When considering the chart for crude oil, there is really only one question to answer and it is simply this – how low can it go! And to answer that particular question we need to consider the charts across a variety of timeframes.
Of the currencies likely to be in focus this week, I really did not expect the week to start with a further move lower for the Loonie (and the Canadian economy) which have both been badly affected by falling oil prices (USO, quote) .
As speculative commodity traders, there are few occasions when it is hard not to make money, and certainly at present we have several stand out opportunities. These opportunities are rare, but when they occur, it’s time, as they say to ‘fill your boots’.
Nature and Man’s ideas can be amazingly beautiful, overwhelming, and sometimes disastrous.
As we come towards the end of another trading month, crude oil price remain firmly rangebound as OPEC’s policy of taking on the alternative energy suppliers in a price war continues.
In the past investors were limited in choices between paper assets like stocks , bonds and trust deeds, and physical assets. Physical assets were all forms of commodities (DBC, quote) , real estate, precious metals, agricultural, energies etc , along of course their labor.
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.
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.
