• 3 minutes Marine based energy generation
  • 5 minutes "Saudi Armada heading to U.S.", "Dumping" is a WTO VIOLATION.
  • 8 minutes Why Trump Is Right to Re-Open the Economy
  • 12 minutes Which producers will shut in first?
  • 1 hour A small trial finds that hydroxychloroquine is not effective for treating coronavirus
  • 2 mins The GREAT OPEC+ Agreement
  • 4 hours US Shale Resilience: Oil Industry Experts Say Shale Will Rise Again
  • 11 hours Saudis to cut 4mm bbls. What a joke.
  • 2 hours Trumps Oil Industry....
  • 15 mins Chinese Communist Party
  • 10 hours Saudi Arabia Is Buying Up European Oil Majors
  • 8 hours Trump will be holding back funds that were going to W.H.O. Good move
  • 9 hours Russia's Rosneft Oil is screwed if they have to shut down production as a result of glut.
  • 2 hours Ten days ago Trump sent New York Hydroxychloroquine. Being administered to infected. Covid deaths dropped last few days. Fewer on ventilators. Hydroxychloroquine "Cause and Effect" ?
  • 11 hours Occidental hypocrisy
  • 6 hours Corona Price Tag
  • 14 hours Sharp real pure true hard working roughneck needing work..

First, The Bad News…

This is my first article for Oilprice.com, so I tried to find something really upbeat to write about. I wanted to be positive and to re-assure those of you here that oil, and energy in general, is in an almost perpetual boom and that everything in the garden is rosy. I tried, I really did, but my role here is to help you make money from the energy markets, not to make you feel all warm and fuzzy, and reality kept intruding.

There are, for me, a couple of bright spots; Cobalt International (CIE), for example, which I like for the admittedly unscientific reasons detailed in this Nasdaq.com article. The thing is, however, that as I’m sure most of you are aware, the fate of most things in the energy sector is tied to the price of crude oil, particularly in the short term, and even a cursory reading of that chart tells me that further gains are unlikely.

Actually when I say “even” a cursory reading of the chart, that is not strictly true. Given that I made a living for twenty years in foreign exchange dealing rooms around the world, many people are surprised to learn that my chart analysis rarely goes beyond the basic. Those people, you see, assume that forex and all commodity markets are immensely technical. Their problem is that they haven’t met many real live, paid traders. Traders in the pit, on the floor or at the trading desk all understand one thing; the more obvious the chart pattern, the more useful it is. Prices don’t…




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