• 4 minutes Projection Of Experts: Oil Prices Expected To Stay Anchored Around $65-70 Through 2023
  • 7 minutes Oil prices forecast
  • 11 minutes Algorithms Taking Over Oil Fields
  • 14 mintues NIGERIAN CRUDE OIL
  • 3 hours UK, Stay in EU, Says Tusk
  • 5 hours Socialists want to exorcise the O&G demon by 2030
  • 3 hours Blame Oil Price or EVs for Car Market Crash? Auto Recession Has Started
  • 13 hours How Is Greenland Dealing With Climate Change?
  • 13 hours German Carmakers Warning: Hard Brexit Would Be "Fatal"
  • 4 mins Venezuela continues to sink in misery
  • 15 hours WSJ: Gun Ownership on Rise in Europe After Terror Attacks, Sexual Assaults
  • 1 hour What will Saudi Arabia say? Booming Qatar-Turkey Trade To Hit $2 bn For 2018
  • 9 hours Maritime Act of 2020 and pending carbon tax effects
  • 1 day "Peace Agreement" Russia vs Japan: Control Over Islands Not Up For Discussion
  • 16 hours Trump inclined to declare national emergency if talks continue to stall - Twitter hides this as "sensitive material"
  • 23 hours Solid-State Batteries
  • 21 hours Orphan Wells
Alt Text

How To Play A Recovery In Oil Prices?

A realistic correction in the…

Alt Text

This Supermajor Is Leading The Energy Sector

This supermajor has been standing…

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 – 25th April 2013

RBOB bounced as hoped to reach resistance at 275.17/276.15. We said this should cap the move & it did but today we are trying to push higher to target strong resistance at 279.74/280.47 & a probably higher for the day. A move higher later in the week could test stronger resistance at 282.65/283.65. Exit all longs here with a high for the week expected & perhaps try shorts with a stop above 285.65. 275.17 is now support but below 274.80 risks a return to 273.06 & below here a retest of 270.50/00 which is still good support today for a buying opportunity but any longs need a stop below 269.15. Failure here could keep the pressure on for 268.32/08 then look for 266.98 below.

Natural Gas - We stated yesterday that the daily outlook has now turned negative so a bounce in to the end of the week should present a chance to enter medium term shorts. We bounced from 4.216/212 to reach resistance at 4.257 & topped out just below 4.295/300 before taking a dive to our next support at 4.145/121. This is holding so far & as stated yesterday we could see a low for the week here & can try longs with a stop below 4.084 for 4.047/025, possibly 4.004/000. Resistance today at 4.212/216 could hold a bounce so we can take at least some profit on longs. However above here look for 4.257 then 4.295/300 to exit any remaining longs. Any shorts need a stop above 4.319 for 4.350 & above here we could retest highs at 4.429.

Brent Crude daily picture is more positive as stated yesterday & we broke 100.35/45 resistance to hit our 102.10/40 target nicely. We expected a high here for the day & this has held so far but any shorts need a stop above 103.00 for 104.27, possibly 105.30. Exit any longs here & try shorts, adding up to 106.00 with a stop above 106.50. Failure to hold above 102.00 could trigger profit taking down to 101.60 & then 100.50/30. Watch for a bounce from here but longs need a stop below 99.90 for 99.05.

WTI Crude as stated yesterday turned positive & we tore through 90.20/30 to hit our upper target of 91.70 which held the move nicely. However we are trying to push above here now to test a 1 year trend line at 92.14/22 & we do look a bit over stretched in the short term so watch for profit taking here. If the markets surprises us with another break higher look for a test of the 100 day moving average at 92.58 & possibly tough resistance above at 92.90/93.10. This should be as far as we can go before hitting selling pressure so try shorts with a stop above 93.50. Support at 91.70 but below 91.30 could trigger some stops & keep the pressure on for 90.30/20. Look for a low for the day here & a good bounce but longs need a stop below 89.90.

By. Jason Sen




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




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