• 3 minutes "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 9 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 2 days GREEN NEW DEAL = BLIZZARD OF LIES
  • 11 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 20 hours Energy Armageddon
  • 10 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 10 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 5 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 5 days "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 5 days The Federal Reserve and Money...Aspects which are not widely known
  • 3 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 6 days Goldman Betting on Cryptocurrencies
  • 9 days Сryptocurrency predictions
  • 14 days Putin and Xi Bet on the Global South
Jim Hyerczyk

Jim Hyerczyk

Fundamental and technical analyst with 30 years experience.

More Info

Oil Market Forecast & Review 14th June 2013

After a successful test of a short-term retracement zone at $91.88 to $90.56, August Crude Oil futures appear poised to breakout over a downtrend line that has been providing resistance since early February.  The trend line drops in at $96.87 this week. Sustaining a move through this price with rising volume will be a strong sign that speculators are ignoring the immediate fundamentals and instead have chosen to focus on the possibility of greater demand because of an improving economy.


Click to enlarge

The triangle chart pattern that has contained the price action for several months is known as a non-trending chart pattern. The fact that the market has retraced over the mid-point of the $106.76 to $81.87 range at $94.31 several times is a clear indication that investors lacked clarity and conviction.

At this time, the market is trading on the strong side of the pivot price, indicating that the buying is greater than the selling at current price levels. The fact that the action has been contained inside of the triangle for several months leads one to believe that the market is poised for increased volatility. If the breakout takes place as expected and fresh money follows the move then look for August Crude Oil to begin to pull away from the confining chart pattern.

Technical traders aren’t going to wait for the fundamental news to confirm the rally. They are willing to speculate that new money is going to arrive on the breakout alone.…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News