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Oil and Natural Gas

  • #2,561
  • Dec 7, 2016 2:55am Dec 7, 2016 2:55am
FWIW have charted the 1 Hr candles Crude oil below;

I would not be surprised if price action popped up one more time (just to clear the stops) before breaking the neck line - Looks like CL may well break hard given the recent price action .....
Attached Image (click to enlarge)
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  • #2,562
  • Dec 7, 2016 7:32am Dec 7, 2016 7:32am
Quoting Exodus
{quote} If you move the left shoulder slightly to the right, and raise the neckline, there is an HnS that has already broken.....
crude H&S
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  • #2,563
  • Dec 7, 2016 9:37am Dec 7, 2016 9:37am
update
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  • #2,564
  • Dec 7, 2016 2:11pm Dec 7, 2016 2:11pm
Attached Image (click to enlarge)
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Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #2,565
  • Dec 7, 2016 6:18pm Dec 7, 2016 6:18pm
OG stocks slightly higher. The commodity slightly down.

I have felt the stocks lead the oil market, lets see who wins the divergence.
  • #2,566
  • Dec 7, 2016 8:53pm Dec 7, 2016 8:53pm
Quoting user954
{quote} what we see is that the political forces that pushed down the price of oil and kept it down will ease considerably and that will be the biggest driver of oil to $90+ over the next 12 months regarding stocks, certainly the path of least resistance is up and a parabolic move higher wouldn't surprise us. But we don't see one driving the other in the near future anyway apart from the correlation of crude prices to the energy sector stocks in the respective indices

Stocks on the parabolic move I alluded to above. Itcan run a lot more now in next few weeks .. another 60 to 80 pts in S&P , 800 to 1000 pts Dow

Crude small pullback, expecting next run to over 55 before end of Jan
  • #2,567
  • Dec 7, 2016 8:56pm Dec 7, 2016 8:56pm
Quoting Exodus
{quote} If you move the left shoulder slightly to the right, and raise the neckline, there is an HnS that has already broken.....
Heading lower nicely throughout yesterday and today.

The subjectivity of head and shoulders does my head in sometimes!
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  • #2,568
  • Dec 8, 2016 1:48am Dec 8, 2016 1:48am
Quoting Vantage FX
.... The subjectivity of head and shoulders does my head in sometimes!
I feel that H&S is not useful except in hindsight. The break of the support tells the same story.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #2,569
  • Dec 8, 2016 6:47am Dec 8, 2016 6:47am
Quoting Exodus
{quote} I feel that H&S is not useful except in hindsight. The break of the support tells the same story.
my view...
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  • #2,570
  • Dec 8, 2016 8:24pm Dec 8, 2016 8:24pm
Those pesky head and shoulders...
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  • #2,571
  • Dec 8, 2016 9:29pm Dec 8, 2016 9:29pm
yes, market does do that at times.....
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  • #2,572
  • Dec 10, 2016 1:55am Dec 10, 2016 1:55am
Came here to post something and saw the HS.
I did not see that formation.
However, the pattern is seen in M30 (quite weak) and it was perfectly completed, then market resumed previous direction:
Attached Image (click to enlarge)
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  • #2,573
  • Dec 10, 2016 2:03am Dec 10, 2016 2:03am
There is something interesting forming in weekly chart (LightCrude)
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_LIGHT.CMD_USD_Weekly_snapshot.png Size: 29 KB


Not yet 100% sure about, indeed I hope price will get down somewhere near 47 but more likely at this point the 49 area will provide support to go for the 55-57-59
Let's see what the new week will propose!
90% of traders use TA, indicators and prediction
  • #2,574
  • Dec 10, 2016 7:04am Dec 10, 2016 7:04am
Quoting _BBKing_
There is something interesting forming in weekly chart (LightCrude) {image} Not yet 100% sure about, indeed I hope price will get down somewhere near 47 but more likely at this point the 49 area will provide support to go for the 55-57-59 Let's see what the new week will propose!
Possible correction..?!
  • #2,575
  • Dec 10, 2016 8:32am Dec 10, 2016 8:32am
An article worth ready:

OPEC’s Historic Deal Won’t Be Enough to Drain Oil Stockpiles

https://www.bloomberg.com/news/artic...oil-stockpiles
  • #2,576
  • Dec 10, 2016 11:02am Dec 10, 2016 11:02am
This will be the profit week for the oil lovers i'm eager to the market to open to make a fortune. long live opec
  • #2,577
  • Dec 10, 2016 2:01pm Dec 10, 2016 2:01pm
with the new production cut news and the news Exxon Mobil CEO is being considered for secretary of state, looks like a good week ahead for higher crude prices. Break over $55 to watch for this week

We are looking for $90 of course some time next year
  • #2,578
  • Dec 10, 2016 8:49pm Dec 10, 2016 8:49pm
Quoting ahmedfouad77
{quote} Possible correction..?!
It s possible.
but even a straight continuation up is an option!
90% of traders use TA, indicators and prediction
  • #2,579
  • Dec 10, 2016 11:58pm Dec 10, 2016 11:58pm
good news for long natgas.../ng already over double the Mar '16 low, but a really seriously cold winter could push it up to >$5, I have a variety of UNG and CHK spreads, targeting Jan and beyond...

http://www.msn.com/en-us/weather/top...BZh?li=BBnbcA1
Attached Image (click to enlarge)
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  • #2,580
  • Dec 11, 2016 3:01am Dec 11, 2016 3:01am
Quoting ahmedfouad77
An article worth ready: OPECs Historic Deal Wont Be Enough to Drain Oil Stockpiles https://www.bloomberg.com/news/artic...oil-stockpiles
I am interested to know where the 300-million barrel stockpile is held. If it is not distributed around the globe then prices could recover sharply when there is an up-tick in demand.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
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