The blog has been quiet as I have been busy drilling oil wells, while working on a law degree. It has not only been that I have not had time to write, but not enough time to read which has led to a case of writers block. My return to writing will be on one […]
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Oil Outlook for 2018
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TASI and Oil Update
In an earlier post I noted that the Saudi stock market has correctly forecast the direction of oil since 2014. Dana Lyons on his blog, As Oil Drops, Saudi Stocks Soar? in a post has noted that the Saudi market has broken out the downsloping trend line from 2014, and could offer a good investment […]
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Was this Capitulation?
Last night in the Asian trading session WTI crude oil dropped approximately $1.30 in a few minutes on no news. Oil bounced off the mid $43 support range shown on yesterdays chart. Was this forced liquidation? CME Group What happens next? It is too early to determine if this is a bounce or the […]
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NYSE Rate of Change Indicator
I still believe there will be a consolidation and sideways action for the first half of the year but the below indicator is still on a buy. Chart Courtesy of Stockcharts.com Financial Trend Forecaster
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TMX Broken Trend Line
Chart courtesy of Stock Charts The above chart is the percentage of stocks on the Toronto Stock Exchange trading above the 50 day moving average. As you can see there has been lower highs and lower lows since the peak in June 2016. This describes a market with less and less strong stocks and […]
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Bottoming Pattern in Crude Oil?
CMEGroup Did a “Morning Star Doji Candle” – in Japanese Candlestick pattern terminology – happen yesterday?
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Oil Inverse Head and Shoulders Pattern?
Elliot Wave Forecast
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Current Oil Rally Fibonacci Levels
If I have the rally correct in my oil price forecast and my current oil price chart then oil should bounce off the 61.8% retracement level. www.stockcharts.com
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