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Energy & Commodities

What Drove WTI Above $60?

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Posted by OilPrice.com

on Tuesday, 02 January 2018 06:59

Screen Shot 2018-01-02 at 7.05.17 AM

WTI briefly broke above $60 per barrel on news that a pipeline in Libya exploded, knocking a sizable portion of supply offline.

The oil pipeline carries crude oil to the Es Sider oil export terminal, Libya’s largest, raising fears of a dramatic supply outage. Early reports suggest that the explosion was the result of an attack by militants, although the precise cause was unclear.



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Energy & Commodities

Top 5 Mining Stocks To Watch In 2018

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Posted by Peter Arendas via Seeking Alpha

on Friday, 29 December 2017 05:56

Summary

This article introduces five mine developers that are realistically able to generate significant gains for their shareholders in 2018.

Although all of the stocks are exposed to various risks, the risks are far outweighed by the potential gains.

Companies featured in the Top 5 for 2018 are focused on gold, copper, platinum group metals, zinc, and uranium.

Last year I published an article named "Top 5 Mining Stocks to Watch In 2017" where I listed 5 interesting miners and mine developers that were expected to bring some nice gains to their shareholders. As the article was very successful, this year I decided to write the 2018 version. I know that there are definitely some other companies with high potential that could have been considered for inclusion into the Top 5. Please feel free to mention them in the comments section.

5. Ivanhoe Mines (OTCQX:IVPAF)

In "Top 5 Mining Stocks to Watch In 2017", I picked Ivanhoe Mines as No. 1. And it hasn't disappointed, as its share price has grown almost by 85%. Given its three world-class projects and the continuing flow of great exploration results, there is still a lot of upside potential left for this company. And although I don't expect it to record another 85% gains in 2018, there should be further exciting events that will make Ivanhoe Mines an exciting investment for the coming years.

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....continue reading HERE

....also from Seeking Alpha:

Dow 50,000 By 2024



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Energy & Commodities

Miners Are At Another Inflection Point

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Posted by Avi Gilburt - ElliottwaveTrader.net

on Thursday, 28 December 2017 06:40

For those that follow me regularly, you will know that I have been tracking a set up for the VanEck Vectors Gold Miners ETF (NYSEARCA:GDX), which I analyze as a proxy for the metals market. I believe that the GDX can outperform the general equity market once we confirm a long term break out has begun, and I think we can see it in 2018.

Recent price action

In early December, we identified a specific 20.89-21.26 support region, which, if held, could begin that major 3rd wave break out and rally we have been awaiting. But, since it would mean that this 2nd wave would have completed in an unorthodox manner, I noted that I would need to see confirmation that the market has truly bottomed.

Two weeks ago, I warned you to be prepared for large moves in the market, and the market has certainly given us a bit of excitement.

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As we now know with the benefit of hindsight, the GDX bottomed at 21.27 (within a penny of our support), and began a rally which came within pennies of our first resistance region of 22.30 before it pulled back. Last weekend, I noted in my weekend market analysis to the members of The Market Pinball Wizard that the market was likely set up to continue higher, since the pullback looked corrective off the 22.30 region. During this past week, I presented my members with the set up for the market to rally to an ideal target of 22.85, and, as the close of the week, the market struck a high so far of 22.92.

(While I have been doing this for many years, I can honestly say I am still amazed at the accuracy of the turning points that Elliott Wave, coupled with our Fibonacci Pinball method, is able to provide us time and again, as we bottomed within one penny of our noted IMPORTANT support level, and the rallied to within pennies of our noted resistances.)

Anecdotal and other sentiment indications



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Energy & Commodities

THE U.S. SHALE OIL INDUSTRY: Swindling and Stealing Energy To Stay Alive

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Posted by Steve St. Angelo - SRSRocco Report

on Wednesday, 27 December 2017 06:27

While the U.S. Shale Energy Industry continues to borrow money to produce uneconomical oil and gas, there is another important phenomenon that is not understood by the analyst community.  The critical factor overlooked by the media is the fact that the U.S. shale industry is swindling and stealing energy from other areas to stay alive.  Let me explain.

First, let’s take a look at some interesting graphs done by the Bloomberg Gadfly.  The first chart below shows how the U.S. shale industry continues to burn through investor cash regardless of $100 or $50 oil prices:

Burn-Baby-Burn-Shale-Oil-Free-Cash-Flow

The chart above shows the negative free cash flow for 33 shale-weighted E&P companies.  Even at $100 oil prices in 2012 and 2013, these companies spent more money producing shale energy in the top four U.S. shale fields than they made from operations.  While costs to produce shale oil and gas came down in 2015 and 2016 (due to lower energy input prices), these companies still spent more money than they made.  As we can see, the Permian basin (in black) gets the first place award for losing the most money in the group.

Now, burning through investor money to produce low-quality, subpar oil is only part of the story.  The shale energy companies utilized another tactic to bring in additional funds from the POOR SLOBS in the retail investment community… it’s called equity issuance.  This next chart reveals the annual equity issuance by the U.S. E&P companies:



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Energy & Commodities

(Some) Commodity Charts are Breaking Out

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Posted by Rambus Chartology

on Friday, 22 December 2017 09:42

Tonight I would like to update some charts for the commodities complex as we are starting to see some action in this sector. Back in the summer months when we first started to get long some of the different commodities sectors, we got many breakouts from some very nice H&S bases. After the initial move up came the first consolidation phase that has been going on for nearly four months or so. We are now starting to see some of these consolidation patterns breaking out which should lead to the next impulse move higher in most cases.

Lets start with BHP, one of the biggest miners on the planet, that shows a good example of where we are at in the bull market. Today the price action broke out with a gap above the top rail of an almost 5 month triangle consolidation pattern. A backtest to the top rail would come in around the 43.50 area.

BHP-DAILY-1

 

Now lets look at a long term weekly chart which shows some classic Chartology. We have discussed many times in the past when you see a small consolidation pattern form just below an important trendline, in this case the neckline, and one above, that is usually a very bullish setup which BHP is now showing.

Also keep in mind the size of that double H&S bottom that took three years to buildout. Big patterns lead to big moves. The minimum price objective of that double H&S bottom is measured from the head straight up to the neckline # two. Add that distance to the breakout point to get your minimum price objective.



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