Oil Price Watch

[uls]

flight back to dollar



WTI breaks $90 support

[uls]

flight back to dollar



WTI falls below $90 support




just reminding everyone of the inverse correlation

[uls]

my OIL PRICE chart of the day



^^^

coz you can see where oil price is going

hehehe

[uls]

overbought... oversold... overbought... oversold... in search of equilibrium... $112. looks equlibrium-y doesnt it?

3 months after Shell CEO said "I see (oil prices) softening in the second-half" (that was when Brent was at $90)

So ULS, you are Smarter than the SHELL CEO too.

Shell CEO sees oil price falling more in 2012

Demand is quite clearly softening, but I wouldn’t say it’s collapsing. Today the market has enough oil, more oil than we need…I see (oil prices) softening in the second-half,” Voser told CNBC on the sidelines of the World Gas Conference in Kuala Lumpur on Tuesday. CNBC, June 5, 2012. a Few Hours ago.

Hey ULS, has it ever occurred to you that people other than yourself can be Right?

These people actually work in the Oil and Financials Industry, while you are just an Armchair analyst.

so far so wrong dude

[Monseratto]

And in local news...

MANILA, Philippines – Petron and Seaoil will put in force price adjustments on various petroleum products effective 6 a.m. of October 1, to reflect movements in the international oil market.

The VAT-inclusive changes announced by Petron are: a rollback in TurboDiesel and DieselMax by 30 centavos a liter; rollback in kerosene by 25 centavos a liter; a 30-centavo per-liter increase in Blaze100, XCS Plus, and Xtra; and an increase of 25 centavos a liter in Pinoy Gasoline and Regular.

Seaoil, on the other hand, is reducing the prices of its disel by 30 centavos a liter and kerosene by 25 centavos. But it will increase prices of: Premium and Unleaded gasoline by 30 centavos, and Regular gasoline by 25 centavos, also effective 6am of Monday, October 1.

[Ry_Tower]

^ Lumalaki spread ng diesel sa unleaded ah

[uls]

US gasoline

[uls]

^^^

that's what a short squeeze looks like

financial players were short gasoline futures

wrong bet

[Ry_Tower]

Down boy, down. :D

[CVT]

Down boy, down. :D

Hindi natin ramdam, bro...

17.0K:out:

[Ry_Tower]

Hindi natin ramdam, bro...

17.0K:out:

Sana next week meron bagong rollback. hehe

[uls]

the following is purely technical. no supply & demand, no geopolitics, no central bank stuff

Brent oil targets $87.46-$93.29 range in 3 months

SINGAPORE: Brent oil is expected to partially or totally reverse a rally from the June 22 low of $88.49 per barrel to the Sept. 14 high of $117.95 over the next three months.

The rally has been triggered by a support at $93.18, the 38.2 percent Fibonacci retracement on a long-term uptrend from $36.20 to $128.40, it is a reaction to the previous sharp fall from $128.40 and also a pullback towards a trendline ascending from $36.20.

^^ $36 is the 2009 low. they're looking at a long term chart -- so you see the 3 yr uptrend from $36 to $128

then a correction happened in March this yr. falling from $128 to $88. they're saying the correction is too shallow and didnt last long enough. basically they're saying the correction is incomplete and Brent should fall below $88 to complete the correction

Neither the reaction nor the pullback indicates the rally has resumed the preceding uptrend that developed from $36.20, indeed, they suggest the correction from $128.40 is incomplete.

This correction has only briefly pierced below $93.18. In terms of depth, it is not over as it's expected to reach into a range of $71.42 - $82.30, respectively the 61.8 percent and the 50 percent retracements.

In terms of duration, it is hardly acceptable for the correction to last only 81 trading sessions from March 1 to June 22, as it is too short, compared to the 821 trading sessions of 'a preceding uptrend from Dec. 24, 2008 to March 1.

The fall from $128.40 to $88.49 has adopted an impulsive wave mode, while the rise from $88.49 to $117.95 has been structured in five corrective waves.

These wave patterns indicate a bigger corrective wave cycle is still expanding, with a downward wave C unfolding towards its target zone of $87.46-$93.29, formed by the 61.8 percent and the 76.4 percent Fibonacci projection levels.

[uls]

the following is purely technical. no supply & demand, no geopolitics, no central bank stuff

http://www.brecorder.com/markets/ene...3-months-.html

SINGAPORE: Brent oil is expected to partially or totally reverse a rally from the June 22 low of $88.49 per barrel to the Sept. 14 high of $117.95 over the next three months.

The rally has been triggered by a support at $93.18, the 38.2 percent Fibonacci retracement on a long-term uptrend from $36.20 to $128.40, it is a reaction to the previous sharp fall from $128.40 and also a pullback towards a trendline ascending from $36.20.

^^

they're looking at a long term chart

so you see the 3-year uptrend from $36 to $128

then a correction this year from $128 to $88

they're saying the correction is too shallow and didnt last long enough

they're saying the correction has to be completed and Brent should fall below $88 to complete the correction

Neither the reaction nor the pullback indicates the rally has resumed the preceding uptrend that developed from $36.20, indeed, they suggest the correction from $128.40 is incomplete.

This correction has only briefly pierced below $93.18. In terms of depth, it is not over as it's expected to reach into a range of $71.42 - $82.30, respectively the 61.8 percent and the 50 percent retracements.

In terms of duration, it is hardly acceptable for the correction to last only 81 trading sessions from March 1 to June 22, as it is too short, compared to the 821 trading sessions of 'a preceding uptrend from Dec. 24, 2008 to March 1.

The fall from $128.40 to $88.49 has adopted an impulsive wave mode, while the rise from $88.49 to $117.95 has been structured in five corrective waves.

These wave patterns indicate a bigger corrective wave cycle is still expanding, with a downward wave C unfolding towards its target zone of $87.46-$93.29, formed by the 61.8 percent and the 76.4 percent Fibonacci projection levels.

[uls]

pero look at US gasoline



the price of crude is falling but the price of finished product is rising (caused by refinery bottleneck)

great time for refiners -- big profit margin

[uls]

[Ry_Tower]

Oil price rises due to Turkey-Syria squabble and a better than expected US job data. Nawala bigla yung downward trend.

[Ry_Tower]

Oil price rises due to Turkey-Syria squabble and a better than expected US job data. Nawala bigla yung downward trend.

[uls]

mamya gabi pa ang US jobs report

last night was ADP

[Ry_Tower]

mamya gabi pa ang US jobs report

last night was ADP

Ah okay. Kala ko jobs report na yun.

[dfopiso]

tataas nanaman ba next week oil prices nyan?