Wealth Creation Through Natural Resources
Front month crude futures briefly touched $44.52/barrel following the weekly oil inventories report from the EIA which contained the following sentence: “At 406.7 million barrels, U.S. crude oil inventories are at the highest level for this time of year in at … Continued
A wild day in the equity markets and some early signs of a bottom in crude. Here’s what we are reading this evening… Marketwatch: He called $50 oil, now he says it’s going lower….although he also agrees that $60-$70 is … Continued
There are some constructive signs mounting in crude oil: Demand has clearly picked up in the US as drivers enjoy sub-$2 gasoline prices in many parts of the country Sentiment on crude oil is the worst its been in a … Continued
One of the biggest stories of 2015 has been the surging price of gold in euro terms: Gold in euro terms has soared nearly 20% in the last month, however, there are mounting signs that a pullback/correction is due: … Continued
Since forming a double-top at $1307/oz last week gold has formed a bearish technical pattern that could result in a move lower back down to the $1250s: A breach of the $1275 support level would set up a pullback to … Continued
During the week ending January 20th hedge funds increased short positions in WTI crude oil futures to the highest levels since September 2010: There is an interesting dynamic developing in the crude market: Inventory builds are expected to be huge … Continued
Lots of quality material to read over this weekend: Peter L. Brandt: The NYSE Composite is forming a near textbook continuation H&S pattern, get ready for a big upside move in US equities. Barron’s: “Regardless of the reason, if banks aren’t … Continued
There was a boom in oil & gas Capex during the past couple of years, particularly in the shale oil drilling space: With the recent crash in the oil price this boom has turned into a bust and there is … Continued
Small speculators more than doubled their net length in gold futures ahead of the ECB’s quantitative easing announcement on Thursday: This is the largest net long position in gold futures that small speculators have had since early July which happened to … Continued
We have been ‘stalking’ Haliburton (HAL) for a couple of weeks based upon a clearly defined double-bottom setup and the potential for a breakout above $41. This breakout is now in progress: The Daily 14-period relative strength index (RSI) is … Continued