Tag "oil"

COT Report: Commodities Traders Cozy Up To Crude Oil

The following are charts and data showing non-commercial futures trading positions as of December 12, 2017. This data was released with the December 15 COT Report (Commitment of Traders). Note that these charts also appeared on my blog. The 3 charts below look at non-commercial futures trading positions for Crude Oil, Gold, and…

Crude Oil Prices Pull Back From Highest Levels Since July 2015

West Texas Crude Oil (WTI) is currently trading just above $57/barrel, after pulling back from the $59 level. The recent highs mark the highest level for WTI crude oil prices since way back in July 2015. On a daily basis, the 14D RSI recently hit extremely overbought territory, also for…

COT Report Spec Positioning: Record Net Longs In Crude Oil

The following are charts and data showing non-commercial futures trading positions as of November 14, 2017. This data was released with the October 17 Commitment of Traders Report (CoT). Note that these charts also appeared on my blog. The 4 charts below look at non-commercial futures trading positions for Crude Oil, Gold, and…

Should Investors Believe The Oil Hype?

The geopolitical backdrop in the Middle East is fluid to say the least, and this fluidity has helped the black fluid undertake what is looking like a potential upside breakout as the news/noise levels remain high. But do you believe the hype? In this article we check out a chart…

U.S. Energy Trade Deficit Nears Zero As Options Expand

This US energy update was power by data from my firm Avory Research. The chart highlights the shrinking energy trade deficit, the drop in solar prices, and the increase of total US crude production. The US energy trade deficit is nearing zero as U.S. production of crude oil, coupled with…

Crude Oil Chart Spotlight: Will Near-Term Price Support Hold?

Crude Oil Chart – Daily   West Texas Crude Oil (WTI) is currently sitting under $50 per barrel. After bouncing off its 200-day average and chart support near the August highs, crude is at a crossroads… and in danger of rolling over. If crude oil is going to extend higher,…

Crude Oil Price Outlook: Risk/Reward Favors Bears

West Texas Crude Oil (WTI) bounced up near $49/$50 last week after holding chart support in the $46 region. But that price area represents strong resistance. And it is showing today as Crude Oil and related ETFs (NYSEARCA:USO) are falling today. Crude prices remains highly volatile from day to day…

WTI Crude Oil Trading Outlook Turns Bearish

After poking its head above the $50 level for the first time since May, West Texas Crude Oil (WTI) is backing off a bit. Is there more downside ahead? Currently, Crude Oil is oscillating near its 200-day average, and I am looking for a top in and around this area….

Crude Oil Likely To Rally Before Heading Lower Once More

Where Is Crude Oil Headed? West Texas Crude Oil (WTI) is currently sitting near $47.85/barrel, and continues to waffle around its 200-day average near $48.75.  I took some profits on my “short” crude oil position (via the short crude oil ETF, NYSEARCA:SCO) as I’m still looking for a bounce toward…

Crude Oil Price Compression: A Big Move Is Coming

We have an oil market in indecision. Indecision = compression. Crude oil price compression is building energy for a big move. There a variety of influences at play in the crude oil market: (i) with Permian-mania as a new swing producer (quick production switch back on and total production costs…