Tag Archives: EIA

Light Crude (CL1, Weekly) – Is there a reversal in crude or just a correction in downtrend?

Mr Hawk/ January 7, 2019/ Chart Of The Day, Charts Posts, Trade Idea, Trade Ideas Posts/ 0 comments

The first week of the year crude made an impressive come back although it did not manage to close above the key $50 level. Oil seems to be oversold and some short covering was necessary. The engulfing pattern on the weekly chart is a hint of possible reversal. Also MACD histogram is signalling weakening momentum as there is a hope

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Feb 6, 2018 – Commodity Weekly: After the support of weak dollar diminished, commodities joined the selloff

Mr Price Action/ February 6, 2018/ Weekly Charts, Weekly Commodity, Weekly Notes Posts/ 0 comments

After a supportive week of depreciating dollar commodities are getting hit by sell off in equities and overall negative sentiment in risk assets. While the dollar should have been helping commodities rise, it wasn’t entirely the case even last week and the air was filled with tension especially after the FOMC meeting on Wednesday where the Fed noted inflation is

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Nov 21, 2017 – Weekly Commodity: Crude trader’s focus back on fundamentals, oversupply

Mr Price Action/ November 21, 2017/ Charts, Charts Posts, Weekly Charts, Weekly Commodity, Weekly Notes, Weekly Notes Posts/ 0 comments

After a week of increased uncertainty following the anticorruption crackdown in Saudi Arabia, the focus is re-shifting toward fundamentals again. A Tuesday sell-off was triggered by the IEA monthly report where the agency reduced its’ global demand forecast by around 100k bpd in contrary to the last OPEC Monthly report from a day earlier. The bears got some additional support

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Nov 14, 2017 – Weekly Commodity : Did the Crude bulls run too far?

Mr Price Action/ November 14, 2017/ Charts, Charts Posts, Weekly Charts, Weekly Commodity, Weekly Notes Posts/ 0 comments

After the spectacular rally since September crude bulls are taking a brake recently. The main reasons of the rally were partially old news about the extension of OPEC and Non-OPEC production cut beyond March 2018. The geopolitical tension on the Middle East added further support to the bulls and the spread between the Brent and WTI widened to over 7$.

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Aug 14, 2017 – Weekly Commodity: Risk off sentiment and bearish reports hit commodities

Mr Price Action/ August 14, 2017/ Charts, Weekly Charts, Weekly Commodity, Weekly Notes, Weekly Notes Posts/ 0 comments

It was a week of swings in the commodity markets with several reports and events driving the market sentiment. The Bloomberg commodity index first jumped 1.4% and then dropped to close the week with only half percent gain. While precious metals and coffee where among the biggest winners, oil and especially grains lost the most. Crude According to the IEA,

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July 17, 2017 – Weekly Commodity: Commodities boosted by fundamentals and falling dollar

Mr Price Action/ July 16, 2017/ Charts, Weekly Charts, Weekly Commodity, Weekly Notes Posts/ 0 comments

The commodities tracked by Bloomberg Commodity index (BCOM:IND) rallied 1.1% on mixed to worsening fundamentals and weaker dollar. Speculators cut a significant part of their short positions up to Tuesday but commodity prices surged especially the last day of the week as traders were adjusting positions to the holiday liquidity. Crude Oil Oil had a pretty good week. According to

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Apr 17, 2017 – Weekly Commodity (Oil stock decline, bearish Wasde report but huge net short in corn and wheat, no sweat future for sugar)

Mr Price Action/ April 17, 2017/ Weekly Commodity/ 0 comments

The highlights of the last week are decline in oil invetnories and oil supply and demand getting closer to balance. In the Agricutural sector the long awaited WASDE report didnt surprice rather confirm expectations however concerns regarding heavy raining in Argentina closer to the weekend pushed prices of Soybean and corn higher. Indian suagr imports caused cautious correction but prices

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