• 5 minutes Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 11 minutes Saudi Fund Wants to Take Tesla Private?
  • 17 minutes Starvation, horror in Venezuela
  • 4 hours WTI @ 67.50, charts show $62.50 next
  • 3 hours Mike Shellman's musings on "Cartoon of the Week"
  • 18 mins Newspaper Editorials Across U.S. Rebuke Trump For Attacks On Press
  • 3 hours Venezuela set to raise gasoline prices to international levels.
  • 8 hours WTI @ 69.33 headed for $70s - $80s end of August
  • 10 hours Renewable Energy Could "Effectively Be Free" by 2030
  • 3 hours Batteries Could Be a Small Dotcom-Style Bubble
  • 3 hours Scottish Battery ‘Breakthrough’ Could Charge Electric Cars In Seconds
  • 9 hours Corporations Are Buying More Renewables Than Ever
  • 1 day Oil prices---Tug of War: Sanctions vs. Trade War
  • 1 day California Solar Mandate Based on False Facts
  • 14 hours Don't Expect Too Much: Despite a Soaring Economy, America's Annual Pay Increase Isn't Budging
  • 14 hours Again Google: Brazil May Probe Google Over Its Cell Phone System
Alt Text

Chinese Mining Giant To Ramp Up Copper Production

Chinese mining giant MMG expects…

Alt Text

Is Nigeria Moving From Oil Into Gold?

Nigeria is looking to diversify…

Alt Text

These New Numbers Show A Major Threat To Gold Is Disappearing

The little effective gold monetization…

Jason Sen

Jason Sen

Jason Sen began his career at the age of 19 in the options pits, market making his own account as a ‘local’ on the trading…

More Info

Trending Discussions

Technical Review of the Energy Markets – 13th June 2013

Brent Crude beat resistance at 102.98 to hit 103.75/80 & our selling opportunity with stops
above 104.15. This trade worked perfectly with a high at 104.10.

Support at 103.00/90 offers a chance for profit taking on our shorts but the outlook is weakening
so a break lower to 102.43/34 looks possible. If we continue lower look for a test of this week’s
low of 101.85/70. A low for the day is possible here again but any longs at this stage need stops
below 101.30 for 100.80 then excellent support at 100.25 & a buying opportunity here this week.

Resistance at 103.75/80 offers another selling opportunity today with stops above 104.20. A
break higher could then target last week’s high at 105.00.

Brent Crude Oil Update - 13.06.13

WTI Crude pushed higher to the 8 month trend line at 96.30/40 which we saw as a tough obstacle
& a selling opportunity. The market halted & 96.45!

Immediate support at 95.23 could hold at first but we could continue lower in to the end of the
week. A break lower does look likely for a test of support at 94.50/40. Failure here means we
have broken the 2 week up trend & should test the 100 day moving average at 94.10/00. Any
longs at this stage need stops below 93.70 for a test of the next support at 93.30/20.

A little resistance at 95.90/00 then the 8 month trend line at 96.30/40 should hold a bounce.
However an unexpected break higher could target 96.70/80 & possibly May highs at 97.10/17.

WTI Crude Oil Update - 13.05.13

Natural Gas held just above 3.696 and topped exactly at resistance of 3.790/810 as expected.
We could see the market retest this week’s low of 3.716/710 today & a break lower is possible to
test better support at 3.640/630. If we fall as far as the 200 day moving average & trend line
support at 3.583 this offers an excellent buying opportunity with a low for the week expected.

Resistance at 3.790/810 could hold the topside again today but above here look for a selling op-
portunity at 3.870/880.

Natural Gas Update - 13.06.13

Gasoil for July has resistance at 868.50 & then the trend line at 870.25. A break higher however
could target 875.25 & possibly last week’s high at 879.

We are quite directionless in this market for almost 2 weeks now. A drift lower could test support
at 862 but below here look for 856.75/25 & bottom for the day possible. However a break lower
could reach better support at 851.25 & if we break lower again later in the week look for the next
support at 843.00/75.

Gasoil Update - 13.06.13

RBOB Gasoline is sitting just below 281.20 which could keep the market under pressure for
279/278.50. The daily chart outlook is more negative now so a break lower cannot be ruled out
and could target 277.00/90 then good support at 274.

Resistance at 283.00 could hold the topside today but a break higher could target yesterday’s
high at 284.00/10. Above here resistance at 285.15 & a high for the day likely. However above
here we meet further resistance with the 200 day moving average at 287.25.

RBOB Update - 13.06.13

By. Jason Sen




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News