Brent Slides On Weak Chinese Exports
Brent crude oil lost its momentum on Tuesday morning after demand woes outweighed worries about the ongoing tension in Syria.
natural gas
Morning Coffee Brief
Well the Fed minutes have come and gone and the worry and hesitance ahead of the release was unwarranted.
Crude oil continues lower, not helped by the fundamentals!
Crude oil continued its bearish tone once again last week, closing the oil trading session on Friday at $94.61 per barrel for the December futures contract. With the fundamental picture now calming, the technical element is taking center stage, and in the last few weeks crude oil has breached several key levels, as outlined in previous posts.
Where next for WTI crude oil futures?
The WTI September crude oil futures contract is now building into an interesting phase of price action, and in many ways is mirroring a similar period between May and July 2013, where the commodity oscillated between $92 per barrel to the downside and $98 per barrel to the upside, before finally breaking out.
May crude oil futures continue to remain bullish
May crude oil futures continued to climb higher once again in yesterday’s trading session, closing at $96.51 per barrel, with a narrow spread up candle with wicks to both top and bottom on the daily chart.
WTI crude oil futures continue in bullish tone
Crude oil futures started the week in bullish tone, with the April WTI contract closing higher at $94.81 per barrel, up almost $1.50 in the session, and ending with a wide spread up candle, but with a small wick to the upper body. Nevertheless, despite the upper shadow, sentiment for crude oil remains firmly bullish, and yesterday’s oil trading session gave us some strong signals for the next few days.
Daily Energy Report
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.
Daily Energy Report
The deja vu trade appears likely to remain in tact in the near-term, as recently attained bullish momentum was undercut in yesterday’s trade. The resulting sideways trend will oscillate between moments of euphoria and doubt, which may essentially feel like a repeat of the decisive rallies and selloffs of the last few weeks which were believed to be the beginnings of new breakouts and breakdowns.
Daily Energy Report
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.
Daily Energy Report
Oil prices could trade in a mixed direction this week, with a small pullback toward $91.50 possible in WTI. Pressure may be offered by a developing bearish divergence on the stochastics oscillator in both WTI and Brent…