Tag "oil"

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…

Is Crude Oil Breaking Down? Here’s What I’m Watching

Crude oil has gone nowhere over the past 10 weeks. We’ve been discussing the potential for a breakout trade in our market recap videos for the past several weeks as we’ve seen it coil up and trade in between this $52 to $54 range. Yesterday, we finally saw some range expansion to the downside as we broke…

Weekly Crude Oil Update And Energy Sector Outlook

This post was written by Derek Benedet of Richardson GMP. And it never failed that during the dry years the people forgot about the rich years, and during the wet years they lost all memory of the dry years. – John Steinbeck, East of Eden This quote reminded me of…

Crude Oil Trends Say Opportunity Still Exists In January

Crude Oil (USO) Offers Big Potential Return Over Short-Term for Bullish Traders Crude oil has had a crazy ride since late 2015, when it dropped around 45% before regaining all of that loss in the first 6 months of 2016. In the back half of 2016, crude chopped around a…

Market Inflections In The Oil Patch

Timing the market is no easy task. In fact, many claim it’s impossible. However, at Market Inflections we employ an algorithm developed by a company called Parallax Financial Research which has an uncanny ability to indentify when trends are most likely to begin and end. Last week, we noted on…