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Energy & Commodities

Clive Maund's Oil Market Update

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Posted by Clive Maund

on Wednesday, 16 November 2016 08:04

Also: Copper Calls Gold Bottom On Trumphoria Surge

Clive Maund's Oil Market Update published Tuesday Nov 15th

After the severe decline in the oil price in 2014 – 2015, which was partly motivated by the Neocon intention to crush the Russian economy as one prong of an asymmetrical warfare campaign that also involved sanctions and a military pressure, the price has marking out a potential base pattern since the middle of last year, as we can see on the 4-year chart for Light Crude shown below. The pattern is looking increasingly like an irregular Head-and-Shoulders bottom, and while it would obviously abort and the price break to lower levels in the event that a general market crash manifests, it is clear that the pattern has the potential to support a substantial bullmarket. This it is interesting to observe the strongly bullish action in copper over recent weeks, which points to a general commodity bullmarket taking hold next year, even if copper is short-term overbought and has signaled that it needs to take a breather. Whilst we can speculate about what may bring this on, it is clear that the election of Trump with his grandiose plans for rebuilding America is likely to be a big factor, although how he plans to finance all this is another matter – probably by means of “helicopter money”, which will mean increasing inflation and a commodity bullmarket, especially in gold and silver, that will also be positive for the oil price. For several months the price has been tracking sideways in a trading range bounded by the support and resistance shown, and right now it may be marking out a second Right Shoulder low of the prospective giant Head-and-Shoulders bottom. A clear breakout above the resistance at the top of this range will be a major technical event that will signal a new bullmarket in oil.

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....continue reading more and view the charts on the Oil Market Update HERE

...also read Copper Calls Gold Bottom On Trumphoria Surge



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Energy & Commodities

Trump Presidency Could Be Good For Canadian Oil

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Posted by OilPrice.com

on Monday, 14 November 2016 15:28

Canadian oil"If Trump stays true to his promise for energy independence, it won’t happen overnight, and the most logical alternative to OPEC imports would naturally be Canada. The U.S.’ northern neighbor has suffered a serious economic slowdown because of the international oil price rout."

....continue reading HERE

 

....also from Victor Adair & Michael Campbell: 

Live From The Trading Desk: Making Sense of a Wild Week



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Energy & Commodities

The Cannabis Sector after the Vote – Boom or Bust??

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Posted by Streetwise Reports

on Friday, 11 November 2016 15:13

Technical Analyst Clive Maund takes a look at the cannabis sector, and how the the election results for eight states, including California, might facilitate a massive boom. (published Nov 8th)

map11-8-16

Not only do we have the US elections today, we also have voting in eight states on the legalization of cannabis, including the all-important State of California, which just by itself is one of the biggest economies in the world. The outcome of this vote is of crucial importance to the future of this fledgling industry, although all the indications are that it will be favorable.



Read more...

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Energy & Commodities

Crude Oil: The Hidden Order Exposed

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Posted by Martin Armstrong - Armstrong Economics

on Wednesday, 02 November 2016 07:52

Crude-m-11-1-2016

Crude rallied during October reaching the $52 level. Yet for the close, it crashed and burned on the last day to AVOID a buy signal at $49.35 level. We bounced off the first Downtrend Line, which now stands at $51.86 for November. This is what I mean about the hidden order within markets. This has NOTHING to do with me making a great call or some personal opinion to pound my chest. There is something much more significant taking place in market activity. This is what our model simply allows you to see. The numbers are the numbers. It has nothing to do with me being personally right or wrong. The numbers will continue to be generated long after I am gone.

...continue reading HERE

....related:

BP And Shell Optimistic The Market Is Turning



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Energy & Commodities

BP And Shell Optimistic The Market Is Turning

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Posted by OIlPrice.com

on Wednesday, 02 November 2016 07:45

7397677f5a7af0c043c3a6d20f41ab71BP and Royal Dutch Shell reported their latest financial figures for the third quarter and both companies showed some improvement, a sign that the oil markets are starting to find their footing.

A few days ago, some of the other oil majors released third quarter earnings, revealing the ongoing damage being done to the balance sheets of even the largest oil companies. But BP and Shell offered some reasons for optimism for the industry.

....continue reading HERE

...related via ZeroHedge:

Let Crude Crash: US Oil Producers Are Hedging At Levels Not Seen Since 2007



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