Friday, May 25, 2012
Friday, May 18, 2012
SNAP SHOT OF SELL CALL IN CRUDE NYMEX @ $94.76 POSTED ON FACEBOOK ON 14 MAY 2012
AGAIN WE ROCKED, GAVE SELL CALL IN CRUDE OIL NYMEX @ $94.76 ON 14 MAY 2012 AND ALL TARGET ACHIEVED BY ONE BY ONE. FINAL TARGET ACHIEVED ON 18 MAY 2012 @ $90.90. PROFIT $3860 ($3.86 POINTS * 1000), INVESTMENT AMOUNT $7800, RETURN @ 49.48%.
Wednesday, May 16, 2012
Tuesday, May 15, 2012
Monday, May 14, 2012
Oil Falls to Five-Month Low on European Economy, U.S. Stockpiles.....15 MAY 2012
Oil fell from the lowest settlement in almost five months in New York before reports that may show U.S. crude stockpiles rose to the highest level in 21 years and Europe’s economy shrank.
Futures slid as much as 0.9 percent, declining for the ninth time in 10 days. U.S. crude stockpiles probably climbed 1.5 million barrels last week to 381 million, the most since August 1990, according to a Bloomberg News survey before government data tomorrow. Europe’s economy contracted last quarter for the first time since the final three months of 2009, a separate survey showed before a report today.
“There’s nothing in the oil market that is giving support,” said Jeremy Friesen, a commodity strategist at Societe Generale in Hong Kong. “Clearly people are going to focus on rising oil stocks in the U.S. It’s expected prices would fall as inventories build to these levels.”
Crude for June delivery fell as much as 87 cents to $93.91 a barrel in electronic trading on the New York Mercantile Exchange and was at $94.28 at 10:21 a.m. Singapore time. Prices dropped 1.4 percent to $94.78 yesterday, the lowest close since Dec. 19, and are down 4.6 percent this year.
Brent for June settlement slid 45 cents, or 0.4 percent, to $111.12 a barrel on the London-based ICE Futures Europe exchange. The European benchmark contract’s premium to West Texas Intermediate was $16.84, compared with $16.79 yesterday and the highest gap based on closing prices since April 13.
Futures slid as much as 0.9 percent, declining for the ninth time in 10 days. U.S. crude stockpiles probably climbed 1.5 million barrels last week to 381 million, the most since August 1990, according to a Bloomberg News survey before government data tomorrow. Europe’s economy contracted last quarter for the first time since the final three months of 2009, a separate survey showed before a report today.
“There’s nothing in the oil market that is giving support,” said Jeremy Friesen, a commodity strategist at Societe Generale in Hong Kong. “Clearly people are going to focus on rising oil stocks in the U.S. It’s expected prices would fall as inventories build to these levels.”
Crude for June delivery fell as much as 87 cents to $93.91 a barrel in electronic trading on the New York Mercantile Exchange and was at $94.28 at 10:21 a.m. Singapore time. Prices dropped 1.4 percent to $94.78 yesterday, the lowest close since Dec. 19, and are down 4.6 percent this year.
Brent for June settlement slid 45 cents, or 0.4 percent, to $111.12 a barrel on the London-based ICE Futures Europe exchange. The European benchmark contract’s premium to West Texas Intermediate was $16.84, compared with $16.79 yesterday and the highest gap based on closing prices since April 13.
Oil Falls Near Five-Month Low on Greece, Saudi Price Call.......14 MAY 2012
Oil fell to the lowest level in almost five months amid growing speculation Greece may leave the euro currency union and as Saudi Arabia’s oil minister said prices should decline further. Futures dropped as much as 2.6 percent after Greece failed to agree on a unity government and European Union officials considered its possible exit from the euro. Saudi Arabia wants crude prices lower than they are now, Oil Minister Ali al-Naimi said yesterday in Adelaide, Australia. The kingdom is pumping at its highest rate in almost three decades, OPEC data show. “Greece is unable to form a coalition government and Europe is the biggest problem right now,” said Tom Bentz, a director with BNP Paribas Prime Brokerage Inc. “When the Saudis speak, the market tends to listen. They’ve been trying to talk down the market for a while.” Crude for June delivery fell $1.63, or 1.7 percent, to $94.50 a barrel at 1:04 p.m. on the New York Mercantile Exchange after declining to $93.65, the lowest front-month intraday price since Dec. 19. Futures are down 14 percent from this year’s closing high of $109.77 on Feb. 24. Brent for June settlement tumbled $1.32, or 1.2 percent, to $110.94 a barrel on the London-based ICE Futures Europe exchange. “There is a total loss of confidence and the European situation is really weighing on the market,” said Phil Streible, a Chicago-based commodities broker at RJO Futures. “Saudi Arabia is definitely ramping up production and that could push down prices.”
Greek Government Meetings brokered by Greek President Karolos Papoulias were set to continue today after Syriza, the leading anti-bailout party, rejected a unity government following inconclusive elections May 6. That moved the country closer to a new vote, with at least five European central bankers broaching the once- taboo topic of its exit from the euro. Although Greece accounts for 2 percent of the euro-area’s economic output, its exit would fragment a system of monetary union designed to be irreversible and might cause investors to raise the threat of withdrawal by other states. The euro dropped as much as 0.7 percent to $1.2825, the lowest level since Jan. 18. A weaker euro and stronger dollar reduce oil’s appeal as an investment alternative. The Standard & Poor’s 500 Index and the Dow Jones Industrial Average each declined as much as 1.2 percent. “The weak euro and the Greek crisis are making people more bearish,” said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. “The general sense is that the global economy is going to underperform because of the European crisis.”
Saudi Outlook Saudi Arabia, the world’s biggest crude exporter, pumped 10.1 million barrels a day in April, about 200,000 barrels more than the previous month and the highest level in more than three decades, a report by the Organization of Petroleum Exporting Countries showed May 10, citing official data submitted by the kingdom. “We want a lower price than where it is now,” al-Naimi said yesterday. “We need to get the price to a level of around $100” a barrel for Brent, he said. Brent last traded below $100 briefly in October. Oil supply outweighs demand by 1.3 million to 1.5 million barrels a day, al-Naimi said yesterday. West Texas Intermediate oil may decline to $90 a barrel and Brent to $105 as European central banks struggle to resolve the debt turmoil, Sabine Schels, an analyst with Bank of America Corp. in London, said in a May 11 report e-mailed today.
Hedge funds cut bullish oil bets by the most in three years the week before the Seaway pipeline begins to ease a U.S. stockpile glut. Money managers reduced net-long positions on oil, or wagers prices will rise, by 33 percent in the seven days ended May 8, according to the Commodity Futures Trading Commission’s Commitments of Traders report on May 11. It was the largest drop since the week ended April 21, 2009.
Electronic trading volume on the Nymex was 305,036 contracts as of 1:06 p.m. in New York. Volume totaled 530,233 contracts on May 11, 13 percent below the three-month average. Open interest was 1.55 million.
Greek Government Meetings brokered by Greek President Karolos Papoulias were set to continue today after Syriza, the leading anti-bailout party, rejected a unity government following inconclusive elections May 6. That moved the country closer to a new vote, with at least five European central bankers broaching the once- taboo topic of its exit from the euro. Although Greece accounts for 2 percent of the euro-area’s economic output, its exit would fragment a system of monetary union designed to be irreversible and might cause investors to raise the threat of withdrawal by other states. The euro dropped as much as 0.7 percent to $1.2825, the lowest level since Jan. 18. A weaker euro and stronger dollar reduce oil’s appeal as an investment alternative. The Standard & Poor’s 500 Index and the Dow Jones Industrial Average each declined as much as 1.2 percent. “The weak euro and the Greek crisis are making people more bearish,” said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. “The general sense is that the global economy is going to underperform because of the European crisis.”
Saudi Outlook Saudi Arabia, the world’s biggest crude exporter, pumped 10.1 million barrels a day in April, about 200,000 barrels more than the previous month and the highest level in more than three decades, a report by the Organization of Petroleum Exporting Countries showed May 10, citing official data submitted by the kingdom. “We want a lower price than where it is now,” al-Naimi said yesterday. “We need to get the price to a level of around $100” a barrel for Brent, he said. Brent last traded below $100 briefly in October. Oil supply outweighs demand by 1.3 million to 1.5 million barrels a day, al-Naimi said yesterday. West Texas Intermediate oil may decline to $90 a barrel and Brent to $105 as European central banks struggle to resolve the debt turmoil, Sabine Schels, an analyst with Bank of America Corp. in London, said in a May 11 report e-mailed today.
Hedge funds cut bullish oil bets by the most in three years the week before the Seaway pipeline begins to ease a U.S. stockpile glut. Money managers reduced net-long positions on oil, or wagers prices will rise, by 33 percent in the seven days ended May 8, according to the Commodity Futures Trading Commission’s Commitments of Traders report on May 11. It was the largest drop since the week ended April 21, 2009.
Electronic trading volume on the Nymex was 305,036 contracts as of 1:06 p.m. in New York. Volume totaled 530,233 contracts on May 11, 13 percent below the three-month average. Open interest was 1.55 million.
CRUDE OIL BROKE STRONG SUPPORT @ $95.....14 MAY 2012
FINALLY CRUDE OIL HAS BROKEN THE STRONG SUPPORT @ $95 AND MADE THE NEW LOW @ $94.72, NOW COMING $90 VERY SOON.
Sunday, May 13, 2012
VIEW CRUDE OIL ON WEEKLY BASIS...13 MAY 2012
CRUDE OIL MAY EXPIRY IS LOOKING WEAK , IF HOLDS AND TRADES BELOW @ 5176 ON WEEKLY BASIS THEN CAN TEST 5045 AND IF BREAKS THIS LEVEL THEN CAN BE PANIC AND CAN TEST 4964 ALSO.
Saturday, May 12, 2012
CRUDE OIL NYMEX IS LOOKING UNDER PRESSURE......12 MAY 2012
CRUDE OIL TREND ON NYMEX FROM 08 APRIL 2012 TO 11 MAY 2012 ON HOURLY CHART
CRUDE OIL IS LOOKING WEAK ON NYMEX. AS ON THE ABOVE CHART SELLING PRESSURE IS LOOKING ON EVERY UPSIDE FROM 08 MAY 2012 TO 11 MAY 2012 AND FAILED TO CROSS @ $97.80 IN THIS PERIOD. POSITIVE U.S. CONSUMER CONFIDENCE DATA CAME ON 11 MAY 2012 WHICH WAS POSITIVE FOR CRUDE OIL AND CRUDE OIL JUMPED FROM $95.65 TO $97.20 BUT STILL FAILED TO CROSS @ $97.80 AND THAT UPSIDE USED BY TRADERS TO SHORT FROM $97.20 BECAUSE STOCKPILES OF CRUDE OIL IS ON RECORD PRODUCTION AND FINALLY CAME BELOW @ $95.70 AND CLOSED @ $95.57.
IF CRUDE OIL BREAKS ANY HOW @ $95 THEN CAN COME @ $90 VERY FAST. NEXT WEEK OUTLOOK IS STILL LOOKING WEAK AND ANY UPSIDE WILL ONLY SELLING OPPORTUNITY IN IT. ON MCX CAN TEST BELOW 5100 BY NEXT WEEK AND CAN COME UP TO 5000 ALSO.
Friday, May 11, 2012
SEE & ANALYSIS WHAT IS HAPPENING IN CRUDE OIL MAY EXPIRY........11 MAY 2012
IMPACT OF BEARISH HEAD & SHOULDER PATTERN IN CRUDE OIL MAY EXPIRY ON INTRADAY CHART :-
BEARISH HEAD & SHOULDER PATTERN FORMATION IN CRUDE OIL MAY EXPIRY ON INTRADAY CHART........11 MAY 2012
BEARISH HEAD & SHOULDER FORMATION IN CRUDE OIL MAY EXPIRY ON INTRADAY BASIS. SHORT CRUDE OIL MAY EXPIRY @ 5172 - 5180, STOP LOSS @ 5200, TARGET @ 5140 - 5115.
U.S. CONSUMER CONFIDENCE DATA CLIMBS - NEGATIVE FOR BULLION........11 MAY 2012
U.S. CONSUMER CONFIDENCE DATA CLIMBS - NEGATIVE FOR BULLION, THEN SHORT 5SILVERM JUNE EXPIRY @ 54250 - 54300, STOP LOSS @ 54501, TARGET @ 53975 - 53725.
Thursday, May 10, 2012
LEAD IS LOOKING BEARISH ON LONDON METAL EXCHANGE SPOT ON POSITIONAL BASIS.....11 MAY 2012
Oil Heads for Second Weekly Drop as Supply Exceeds Demand ......11 May 2012
Oil Heads for Second Weekly Drop as Supply Exceeds Demand :-
Oil fell in New York, heading for a second weekly drop, on concern Europe’s debt crisis will worsen and curb fuel demand as global crude supplies increase. Futures slipped as much as 1.3 percent, retreating for the seventh day in eight. Oil may extend declines next week amid rising U.S. stockpiles and concern the crisis in Europe will spread, threatening the global economic recovery.
OPEC is producing 8.3 percent more crude than it considers necessary this quarter, data released yesterday by the Vienna-based group showed. “The outlook remains mixed to negative and I think that’s the state of play for a little while,” said Jonathan Barratt, chief executive of Barratt’s Bulletin, a commodity-markets newsletter in Sydney. “The optimism we had at the end of 2011 that created a firm footing for a lot of commodities has slowly eroded. We still continue to see inventory builds.” Crude for June delivery fell as much as $1.26 to $95.82 a barrel in electronic trading on the New York Mercantile Exchange, and was at $96 at 12:39 p.m. Sydney time. The contract yesterday rose 27 cents to $97.08. Prices are 2.5 lower this week and down 2.9 percent this year. Brent oil for June settlement slipped 69 cents, or 0.6 percent, to $112.04 a barrel on the London-based ICE Futures Europe exchange. The European benchmark contract’s premium to West Texas Intermediate was at $16.04, from $15.65 yesterday.
Europe Crisis Eleven of 23 analysts surveyed by Bloomberg, or 48 percent, forecast oil will drop through May 18. Nine respondents, or 39 percent, predicted prices will be little changed and three estimated there will be a gain. U.S. crude stockpiles rose 3.7 million barrels last week to 379.5 million, the highest level since 1990, Energy Department data showed May 9. Total fuel demand averaged over the four weeks ended May 4 fell 0.5 percent to 18.7 million barrels a day, down 0.8 percent from a year earlier Greece has been unable to form a government since May 6 elections, raising the possibility that another vote will have to be held as early as next month. Spain’s government took control of the nation’s fourth-biggest lender this week as it starts its fourth bank cleanup in three years. Iraq, seeking to more than double oil output by 2015, is poised to overtake Iran as the Organization of Petroleum Exporting Countries’ second-largest producer by the end of the year as sanctions hobble crude production in its Persian Gulf neighbor. Iraq produced 3.03 million barrels a day in April, 7.7 percent more than in March, while Iranian production declined to 3.2 million barrels a day, according to an OPEC monthly report yesterday.
OPEC Supplies OPEC, responsible for 40 percent of global oil supplies, said in its report that it bolstered production by 320,000 barrels a day in April to 31.62 million. Saudi Arabia, the world’s largest oil exporter, increased supply by 56,500 barrels a day to 9.9 million, according to OPEC, whose estimates are based on secondary sources including analysts and news agencies. OPEC will cut shipments by 1.8 percent this month as refiners in Asia conduct seasonal maintenance, according to tanker-tracker Oil Movements. OPEC will export 23.96 million barrels a day in the four weeks to May 26, compared with 24.39 million in the period to April 28, the researcher said yesterday in a report
ANALYSIS :- ALL THIS MEASURES INDICATE THAT OIL PRICE WILL BECOME DOWN MORE FURTHER IN COMING DAYS.
CRUDE OIL BULLISH FLAG IN INTRADAY......10 MAY 2012
CRUDE OIL MAY EXPIRY INTRADAY MOVEMENT ON 10TH MAY 2012
LOW RISK :- BUY CRUDE OIL MAY EXPIRY @ 5162 - 5168, STOP LOSS @ 5150, TARGET @ 5200. CALL ACTIVATED @ 8:41 PM AND MADE THE HIGH @ 5186 AT 9:02 PM
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