Category Archives: Commodities

Chart showing the monthly average discount for WCS to WTI

Monthly average discount for WCS to WTI

http://www.oilsandsmagazine.com/energy-statistics/oil-and-gas-prices

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“What is the major tend? What is the intermediate trend? What is the near-term trend?”
Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2018 TradeOnline.ca

Major uptrend for WTI with breakouts above two resistance levels of $55 and $60

Four -Year Chart for West Texas Intermediate

Reference my last chart for West Texas Intermediate when crude was about to test resistance at $60. The reversal of roles from resistance to support or support to resistance is an important concept in technical analysis.

______________________________

“What is the major tend? What is the intermediate trend? What is the near-term trend?”
Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2018 TradeOnline.ca

Natural Gas at major support around $2.60 MMBtu

Natural Gas three year chart showing major support around $2.60.

The following is an excellent site for research: Natural Gas Weekly Update

Weekly natural gas rig count

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“What is the major tend? What is the intermediate trend? What is the near-term trend?”
Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2017 TradeOnline.ca

Western Canadian Select (WCS) price differential on December 15, 2017 with WTI is ($57.30-32.75) $24.55 USD/bbl and the near-term trend is a projected increase in the differential

Western Canadian Select chart showing the differential with WTI

There are two major negative factors affecting the price of WCS and thus increasing the the price differential. The first is new production coming on stream and the second is the pipeline constraint to export WCS to the U.S. market.

Click here for a live and larger version of the above chart.

There are over 300 benchmark streams of crude oil produced around the world. The most commonly referenced US benchmark is West Texas Intermediate (WTI), priced out of Cushing, Oklahoma. WTI is lighter and sweeter than the international benchmark, North Sea Brent, which is priced out of Sullom Voe, Scotland.

The two most popular Canadian benchmarks are Canadian Light and Western Canadian Select. WCS is a heavy sour blend while Canadian Light is a light sweet crude, similar in quality to WTI.

Click hear for an explanation of WCS.

This link provides an historical chart of the WCS price differential with WTI.

______________________________

“Technical Analysis is about identifying and following the appropriate trend.”
Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2017 TradeOnline.ca

West Texas Intermediate will test resistance around $60

WTI intermediate uptrend.

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“Technical Analysis is about putting the probabilities on your side.”
Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2017 TradeOnline.ca

Intermediate uptrend and breakout for Brent Crude Oil

Intermediate uptrend for Brent

Brent 3-Year Candlestick Chart

______________________________

“Technical Analysis is about putting the probabilities on your side.”
Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2017 TradeOnline.ca

Tentative breakout for WTI crude above major resistance at $55

West Texas Intermediate 3-Year Chart showing the tentative breakout above resistance at $55.

West Texas Intermediate 3-Year Chart

Reference my last chart analysis for WTI.

______________________________

“Technical Analysis is about putting the probabilities on your side.”
Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2017 TradeOnline.ca

West Texas Intermediate testing major resistance at $55

West Texas Intermediate Crude chart showing the test at major resistance of $55.

WTI Weekly Chart 2012 to 2017

Reference the last chart analysis for WTI

______________________________

“Technical Analysis is about putting the probabilities on your side.”
Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2017 TradeOnline.ca