• 15 mins Oil Billionaire Becomes Wind Energy’s Top Influencer
  • 1 hour Transneft Warns Urals Oil Quality Reaching Critical Levels
  • 2 hours Whitefish Energy Suspends Work In Puerto Rico
  • 3 hours U.S. Authorities Arrest Two On Major Energy Corruption Scheme
  • 15 hours Thanksgiving Gas Prices At 3-Year High
  • 19 hours Iraq’s Giant Majnoon Oilfield Attracts Attention Of Supermajors
  • 21 hours South Iraq Oil Exports Close To Record High To Offset Kirkuk Drop
  • 1 day Iraqi Forces Find Mass Graves In Oil Wells Near Kirkuk
  • 1 day Chevron Joint Venture Signs $1.7B Oil, Gas Deal In Nigeria
  • 1 day Iraq Steps In To Offset Falling Venezuela Oil Production
  • 1 day ConocoPhillips Sets Price Ceiling For New Projects
  • 4 days Shell Oil Trading Head Steps Down After 29 Years
  • 4 days Higher Oil Prices Reduce North American Oil Bankruptcies
  • 4 days Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 4 days $1.6 Billion Canadian-US Hydropower Project Approved
  • 4 days Venezuela Officially In Default
  • 4 days Iran Prepares To Export LNG To Boost Trade Relations
  • 4 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 4 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 5 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 5 days Rosneft Announces Completion Of World’s Longest Well
  • 5 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 5 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 5 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 5 days Santos Admits It Rejected $7.2B Takeover Bid
  • 5 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 6 days Africa’s Richest Woman Fired From Sonangol
  • 6 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 6 days Russian Hackers Target British Energy Industry
  • 6 days Venezuela Signs $3.15B Debt Restructuring Deal With Russia
  • 6 days DOJ: Protestors Interfering With Pipeline Construction Will Be Prosecuted
  • 6 days Lower Oil Prices Benefit European Refiners
  • 6 days World’s Biggest Private Equity Firm Raises $1 Billion To Invest In Oil
  • 7 days Oil Prices Tank After API Reports Strong Build In Crude Inventories
  • 7 days Iraq Oil Revenue Not Enough For Sustainable Development
  • 7 days Sudan In Talks With Foreign Oil Firms To Boost Crude Production
  • 7 days Shell: Four Oil Platforms Shut In Gulf Of Mexico After Fire
  • 7 days OPEC To Recruit New Members To Fight Market Imbalance
  • 7 days Green Groups Want Norway’s Arctic Oil Drilling Licenses Canceled
  • 7 days Venezuelan Oil Output Drops To Lowest In 28 Years

Technical Review of the Energy Markets – 4th April 2013

Technical Review of the Energy Markets – 4th April 2013

Natural Gas broke support at 3.966/961 & managed to hold just above the next support at 3.886/860. We can try longs here today & look for a bounce with the market now over sold in the short term. We need a stop below 3.833 for a test of the next support at 3.792.

Resistance at 3.966 is our first obstacle on a bounce. A top here is possible today but a break above 3.991 could signal a move towards this week’s high of 4.044.

Natural Gas Daily Update - 04.04.13
Click to enlarge.

RBOB Gasoline broke strong support at 299.52/41 & collapsed all the way to 290.98 support. We have over run a little but we look over sold in the short term & have pushed back above 290.98.

Today therefore there is a chance of a recovery to 295.90. Watch for the market to turn lower here but a push higher could allow a test of stronger resistance at 298.84/299.41. It may be wise to exit longs here & perhaps try small shorts with a stop above 301 as a break higher could target 304.17/305.07.

290.98/290.23 is support today & we could bounce from here again. On a break however we meet 100 & 200 day moving average support at 288.77/287.94. So again we look for a bounce here but longs will need a stop below 286 as this risks a move to good support at 282.55.

RBOB Daily Update - 04.04.13
Click to enlarge.

By. Jason Sen




Back to homepage


Leave a comment

Leave a comment




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