Category Archives: Other Topics

West Texas Intermediate closes above resistance of $45

Next target for WTI is $50 and $60 is the Goldilocks number
WTI 3-year chart showing the break above resistance of $45.

WTI 3-Year Chart

Reference the last chart analysis for West Texas Intermediate.

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“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

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WTI will test major resistance of $45 with $50 in the cards

So far, April was a good month for the oil bulls
  1. WTI was able to hold major support at $35
  2. Breakout above the 40-week (200-day) moving average
  3. Breakout above resistance of $40
  4. $40  is now the current  support zone
  5. $45 is the current resistance zone
  6. $50 is the intermediate target and major resistance zone
WTI will test resistance around $45

WTI 2-Year Weekly Candlestick Chart

Reference my April 12, 2016 post for WTI.

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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Tentative breakout for Canadian dollar at 78 U.S. cents

Near-term uptrend for the Canadian dollar and above 200-day sma
Tenative breakout for the Canadian dollar at 78.

Canadian Dollar 3-Year Weekly Chart

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Support for the U.S. Dollar Index is 94
Near-term downtrend for the U.S. dollar with support around 94.

U.S. Dollar 3-Year Weekly Chart

https://en.wikipedia.org/wiki/U.S._Dollar_Index

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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Oil trading above 200-day simple moving average

Near-term uptrend: WTI above 200-day sma for the first time since 2014
West Texas Intermediate trading above the 200-day simple moving average for the first time since 2014.

WTI 3-Year Chart

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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Hydraulic fracturing accounts for about half of U.S. oil production

Even though hydraulic fracturing has been in use for more than six decades, it has only recently been used to produce a significant portion of crude oil in the United States. This technique, often used in combination with horizontal drilling, has allowed the United States to increase its oil production faster than at any time in its history. Based on the most recent available data from states, EIA estimates that oil production from hydraulically fractured wells now makes up about half of total U.S. crude oil production.

http://www.eia.gov/todayinenergy/detail.cfm?id=25372

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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World Liquid Fuels Production and Consumption Balance

The following chart provides a graphical perspective on the liquid fuels production and consumption balance. With all the daily bantering on the networks, the chart provides a base case for a general overview of the imbalance. You can click on the link below the chart for a detailed review of the data and assumptions used in the construction of the chart. Draw your own conclusions and trade accordingly.

Global oil inventories are forecast to increase by an annual average of 1.6 million b/d in 2016 and by an additional 0.6 million b/d in 2017. These inventory builds are larger than previously expected, delaying the rebalancing of the oil market and contributing to lower forecast oil prices. Compared with last month's STEO, EIA has revised forecast supply growth higher for 2016 and revised forecast demand growth lower for both 2016 and 2017. Higher 2016 supply in this month's STEO is based on indications that production is more resilient to lower prices than previously expected. Notably, revisions to historical Russian data, which raised the baseline for Russian production, carry through much of the forecast. Additionally, lower expectations for global economic growth contributed to a reduction in the oil demand forecast.

https://www.eia.gov/forecasts/steo/report/global_oil.cfm

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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