Gold bulls have been retreating in earnest over the last two months. The rally in Gold (GLD), when compared to performance of a fundamentally stronger US Dollar (UUP), appears to have been more of a short-term cyclical event. As the US economy recovers on expectations of higher interest rates and a more business friendly environment […]
If the USDA is anywhere near accurate with its forecast for a record year harvest of corn in 2016, one may see the price of corn futures violate the technical support level @ $300. If so, this would be psychologically damaging and send it to test support near the range of $250-$260. Estimates are calling for production […]
In September, OPEC members meet informally in Algeria to revisit its previously failed dialogue on managing production output as a means to stabilize oil prices. Since its meeting in Doha last April, not much has changed. The same risks for lower oil prices still exists and remain overweighted to the supply side of the equation […]
Crude oil’s double top pattern (see chart below) is a bearish omen for future price action. Combine this technical pattern with the fundamental facts that summer gasoline inventories are climbing and oil demand for the 3rd quarter of 2016 is estimated to be two-thirds less than it was the same period a year ago (according […]
A couple of days ago, a Wells Fargo analyst was interviewed on CNBC and opined that Gold (GLD) could correct in price by $300 as it was part of the bear super cycle in commodities. Since I am a technical analyst as well, I checked a few charts and did my own analysis. If one […]
India is one of the fastest growing and most populated economies in the world. Its ever increasing thirst for energy (crude oil) and ability to obtain it at sustainable rates will influence its foreign policy. Strafer’s South Asia analyst, Faisal Pervaiz, briefs us on some of the challenges that it faces to meet this objective. […]
In this 6-minute video, Stratfor analysts discuss the future of lithium batteries and supply/demand factors impacting costs. (See below for related exchange traded fund and its component stocks.)
Stratfor analysts, Lynn Wise and Matthew Bey, discuss the respective pressure points that each major oil producing nation must face in consideration of higher or lower oil prices and ultimately the end game scenario as the supply-demand cycle for energy winds down for a reset.
The spread between Brent and WTI crude oil has almost reached parity and confirms that the supply-glut for oil is more of a global concern and not confined to the US. Some key fundamentals impacting the global oil markets are:
Gold prices are cheap in the face of unprecedented and coordinated global quantitative easing among central banks. However, if the Fed makes good on its promise to gradually raise interest rates, then gold prices might get even cheaper. Once some semblance of supply-demand equilibrium can be restored to the energy markets to stabilize oil prices, […]
WTI Crude Oil January-2016 Futures Oil is currently trading @ 37.13 and consolidating its most recent gains. Resistance is @ 38.00 and support @ 36.50 – 36.00. Several factors are weighing in on the price of oil:
WTI Crude Oil January-2016 Futures: Crude Oil is pulling back after hitting a new 3-day high @ 37.11. It is trading @ 36.51 and has minor support @ 36.00 – 35.50 levels. Resistance is @ 36.75 – 37.15. (5:55am PT) Gold February-2016 Futures: Currently trading @ 1063.50, therally two weeks ago is proving to be a false […]
Crude oil traders are on much slicker slopes these days and the short-term offers no clues on technical support because the energy commodity continues to make new lows. Instead, one has to widen their perspective to a monthly time frame to get a better reference on price support levels.