|Day's Range||0.00 - 0.00|
Price action is one of the core aspects in the FX market. In this webinarof you’ll learn how to take advantage of easy to recognize patterns. We will focus our attention in a very popular pattern: the ‘pin baron
Geo-politics will remain center stage with Britain and Italy heading to their final showdowns, while trade talk chatter will also influence.
North Dakota set oil and gas production records in September, but a slowdown is expected in the coming months due to a sharp drop in oil prices. The state's director of mineral resources, Lynn Helms, said ...
Alaska’s oil and gas industry is booming, with record breaking lease sales across the North Slope, Beaufort Sea, and North Slope Foothills
Based on last week’s close at $1223.00, the direction of the December Comex Gold market next this week is likely to be determined by trader reaction to the first intermediate 50% level at $1222.70.
The week in review: Stocks slide as oil prices fall, the hard sell on Brexit, midterm election recounts continue, California wildfires rage, trouble in Gaza, and a White House housecleaning.
___ Brexit, Italy, trade: Risks piling up for Europe's economy Europe's long-running economic rebound is facing a mid-life crisis as it copes with worries including a potential debt explosion in Italy, ...
As I predicted in my column last Thursday, oil prices have not crashed. The last trade for the December WTI futures contract will occur on Monday, and with volume on that contract fading (only 53,000 so far today) and volume on the January contract exploding (345,000 traded this morning) it is clear that traders have shifted their focus to the next play. U.S. commercial crude oil inventories rose 10.3 million barrels, and while motor gasoline inventories declined slightly from the prior week's figure and imports declined again, I'd still say on balance the report was slightly negative.
Natural gas prices whipsawed testing support and then surging higher to close up more than 7% on the session. This weeks roller-coaster ride was rumored to have been driven by a short-squeeze which forced traders that were short natural gas and long oil to dump their positions. The lower than average inventories combined with colder than normal weather is likely to reduce stockpiles. Inventories are at the low end of the average range but prices remain well below the 6.25 highs seen in 2014. Natural gas prices rebounded off support near the 10-day moving average at 3.90 and rose throughout the trading session, finishing up more than 7% on the day. Resistance is seen near this weeks highs at 4.92. Momentum is positive as the MACD (moving average convergence divergence) histogram prints in the black with an upward sloping trajectory which points to higher prices.
In an interview with CNBC on November 14, Mark Fisher, a famous energy trader, said that the “worst is over” for crude oil. On November 15, US crude oil prices were 25.8% below their four-year high closing of $76.41 per barrel on October 3.
The average investor usually isn’t too focused on the outlook for lean hogs, but that isn’t necessarily the case for gold, oil, and other commodities. It didn’t take too long after the launch of the first ETF in 1993 before commodity ETFs became available. In recent months, investors have been pouring billions into these funds, according to the equity research firm ETFGI.
On November 15, natural gas’s implied volatility was 86.8%, which was ~73.6% above its 15-day moving average. In the trailing week, natural gas’s implied volatility rose 83.1%. Natural gas December futures rose 14% during the same period. Since June, these two metrics have been moving in tandem.
Asian spot prices for liquefied natural gas (LNG) fell this week despite several Japanese buyers in the market, as sellers held onto cargoes hoping for higher bids and used tankers as storage, which also reduced ship availability for other deals. Spot prices for January delivery in North Asia (LNG-AS) were heard at $10.90 per million British thermal units (mmBtu), 30 cents lower than last week. For late December, spot prices were heard at $10.40 per mmBtu, although they were under the $10 mark for early December delivery weeks.
The price action this week brings to mind several factors. You can have the perfect storm of fundamentals, but you still have to have position management to make money. Traders are probably going to look at this week’s high as an anomaly and consider the $4.00 as resistance. The charts are zeroing in on $4.082 to $3.873 as the key area to watch.
Malaysia's gas exports have been severely impacted since the second quarter of the year due to a supply disruption at a gas field in the eastern state of Sabah, the finance minister said on Friday. "Major repairs and assessment works are still ongoing and production is only expected to return to full capacity by the middle of next year (at) the latest," Finance Minister Lim Guan Eng said in a statement. The supply disruption has affected the country's economic growth and petroleum income tax revenue received by the government, he said.
The gold prices have slightly rallied higher during the Thursday’s session as the $1200 level underneath offering strong support to the market. If the market breaks down below the recent lows, then the market could drop down to the $12 level. The crude oil prices bounced slightly higher during yesterday’s session, as it experienced strong support at the $55 level.
The next move by crude oil will be headline and momentum driven. If the headlines are bullish then buyers will make a run at the major 50% level at $58.95. If the headlines are bearish then sellers will attempt to resume the downtrend by taking out $54.90.
Based on the price action the last six weeks, the direction of the AUD/USD on Friday is likely to be determined by trader reaction to the main retracement levels at .7252 to .7307.
PORT MORESBY/MELBOURNE, Nov 16 (Reuters) - A long-awaited project led by France's Total SA that will help double liquefied natural gas (LNG) exports from Papua New Guinea has come another step closer, with the government agreeing to set financial terms early next year. The LNG expansion, which analysts estimate will cost $13 billion, is crucial to the Pacific island nation's economy as LNG is its biggest export earner, while demand for the fuel is surging in international energy markets. Prime Minister Peter O'Neill said in the country's capital of Port Moresby on Friday that "physical terms" had been agreed.
Nov 16 (Reuters) - Zhongman Petroleum and Natural Gas Group Corp Ltd: * SAYS IT SIGNED AGREEMENT WITH PETRONAS CARIGALI IRAQ HOLDING B.V. ON PROJECT WORTH ABOUT $99 MILLION Source text in Chinese: https://bit.ly/2K6XVyR ...
With economic data on the lighter side, we can expect geo-politics to continue to take center stage, the Pound in desperate need of good news.