EIA Inventory Report * Crude stocks fall 5.33 million barrels * Distillate stocks off 589,000 barrels * Gasoline stocks up 2.4 million barrels NEW YORK, Dec 22 (Reuters) – U.S. crude inventories fell more than expected last week while gasoline stocks rose, according to a weekly report from the Energy Information Administration on Wednesday. Domestic… read more
Tag Archives: Crude oil
TMV Swing Trading report – Update for long January RBOB position
TMV Swing Trade report – long January RBOB gas from 2.2970. Market appears to be losing momentum. I recommend closing the long position to bank the current gains. The market is currently trading at 2.3345.… read more
Swing Trading Strategy – Bullish Reaction Swing Portends New Advance in Crude oil. [chart].
January Crude oil has formed a bullish reaction swing over the ascending median line. The market dipped down to the 20-day EMA just minutes before a 9.85 million barrel drawdown was reported in the EIA weekly petroleum supply and demand report. This caused Crude oil to rally off the 20-day EMA and trade above the… read more
EIA Energy Stocks 12/15/2010 – Futures Trading News
NEW YORK, Dec 15 (Reuters) – U.S. crude oil futures prices turned positive on Wednesday after government oil inventory data showed crude stocks fell much more than expected last week. U.S. crude oil stockpiles fell 9.85 million barrels last week, according to the Energy Information Administration, much more than the drop of 2.5 million barrels… read more
Swing Trading Strategies – Will the December 6th reversal date signal a new direction for Crude oil? [chart]
The previous two reversal dates (November 11 and November 23) have triggered major turns in the January Crude oil. After posting a low on the November 23rd reversal date, Crude rallied over $10.00 and traded beyond the prior swing high of $89.10 posted on the November 11th reversal date. It just so happens that the… read more
Swing Trade Strategies – Long December Crude oil reaches 1st target objective! [chart]
TMV Swing Trade report – Long December Crude oil @ $83.31. December Crude oil reached the initial target objective at $86.50. The longer-term cycle still remains bullish with futures reversal dates projected for November 11 and November 16 with a major target objective at $90.00. I will look for a short-term pullback or consolidation for… read more
Swing Trading Strategies – “Action-Reaction” projects higher Crude oil into November 16th. [chart]
If you have read any of my books or are a frequent reader of my newsletter and blogs you have probably seen me talk about a 3-wave or 5-wave continuation pattern. When identified correctly, this can be used to project price the time , price and duration of a future price move. The pattern will… read more
EIA Energy Stocks – Futures and commodities News
NEW YORK, Oct 27 (Reuters) – U.S. crude oil futures prices pared losses on Wednesday after after a government oil inventory report showed a large drop in gasoline stockpiles last week, against a forecast for stocks to be up slightly. The U.S. Energy Information Administration’s report showed crude stocks rose 5.01 million barrels, more than… read more
Swing Trading Strategies – What does “action-reaction’ tell us about the Crude oil now? [chart]
Now that the long November Crude oil swing trade (long from 77.55) has reached the target objective, (83.45) I think it is a good time to review the trade signal and see how “action-reaction ” helped determine the entry, direction, duration and distance (target objective) before the trade was entered. Crude oil had undergone a corrective pullback that… read more
Crude Oil Inventory Report / Futures Broker
NEW YORK, Oct 6 (Reuters) – U.S. crude oil futures prices extended losses on Wednesday in choppy trading after a government oil inventory report showed crude stocks rose more than expected last week. The U.S. Energy Information Administration’s weekly report said the nation’s crude oil inventories rose by 3.09 million barrels in the week to… read more