August crude oil was higher overnight as it extends the rally off June's low. Stochastics and the RSI are overbought but remains bullish signaling that sideways to higher prices are possible near-term. If August extends the rally off June's low, the 38% retracement level of this year's decline crossing at 90.43 is the next upside target. Closes below the 20-day moving average crossing at 84.49 would temper the near-term friendly outlook in August crude oil. Continue reading "Energy Market Commentary for Thursday"
Tag: gas
Energy Market Commentary
August crude oil was higher overnight and poised to renew the rally off June's low. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If August renews the rally off June's low, the 38% retracement level of this year's decline crossing at 90.43 is the next upside target. Closes below the 20-day moving average crossing at 83.70 would temper the near-term friendly outlook in August crude oil. Continue reading "Energy Market Commentary"
Energy Market Morning Report
August crude oil was higher overnight as it extended the rally off last Thursday's low. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If August extends the rally off June's low, the reaction high crossing at 87.32 is the next upside target. If August renews this year's decline, the 75% retracement level of the 2009-2011-rally crossing at 73.28 is the next downside target. First resistance is the reaction high crossing at 87.32. Second resistance is the reaction high crossing at 92.52. First support is last Thursday's low crossing at 77.28. Second support is the 75% retracement level of the 2009-2011-rally crossing at 73.28. Continue reading "Energy Market Morning Report"
Coal and Shale Gas: American's Energy Siblings Are Locked in Rivalry
By Marin Katusa, Casey Research
Competition is supposed to make competitors stronger, but when it comes to the battle between coal and shale gas for supremacy as the United States' power-generating fuel of choice, the rivalry instead has each commodity holding the other down.
Coal is the reigning champ is this competition, having provided at least 50% of the electricity consumed in the United States for many decades. Continue reading "Coal and Shale Gas: American's Energy Siblings Are Locked in Rivalry"
POLL: Pain in the GAS!
Consumers blame oil companies, oil companies blame the politicians, and the politicians blame foreign countries. Yes, we’re talking about the price of gas, or crude oil if you will. If you have been trading the black gold, you may be laughing all the way to the bank right now. However, the average American isn’t laughing at all. I think it's safe to say that no one likes to feel like they are being robbed at gunpoint every time they fill their tank.
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