From the category archives:
Here’s some news worth reading …
Oil is rocketing higher. It still has to get above last week’s high, but this is a bullish start.
Why is oil making its biggest move in four weeks? Because the dollar is weakening, and because OPEC says they won’t increase output. As I said in Friday’s column, there is plenty [...]
After pushing strongly above $82 yesterday morning, crude oil turned around and sank to close at $81.47. $82 is the line in the sand — if oil can close above that, it could be on its way to $91.5o. So, this pullback is a real disappointment for the bulls.
Oil could make another attempt next week, [...]
My column for UncommonWisdomDaily.com that posted today, The Coming Emergency in Energy, is already out of date. That’s because I used the International Energy Agency’s February estimate for global oil demand, when they raised the estimate for 2010 to 86.5 million barrels. Today, the IEA raised their 2010 estimate to 86.6 million barrels a day [...]
Here’s a chart of crude oil.
Until we can see crude break through 84 at the top or 70 at the bottom of its range, then everything is noise. Personally, I think the markets are muddled, and we may need another week for clarity.
As I explained in an earlier post, the GDP number released on Friday — boasting 5.7% growth — was a joke. Energy demand in the U.S. is going down. If economic activity were really rising, energy demand would be going up.
The lack of real economic growth in the U.S., along with a rising U.S. dollar, [...]
Not long ago, I made a video about the pullback in oil. I said if we were very lucky, it would pull back to 77. Well, I must be extra super lucky, because it’s pulling back deeper than that. In fact, this Daily chart of oil is downright bearish.
So, I’m not feeling lucky at all. [...]
If you saw my video on Tuesday, you know I was looking for crude oil to test overhead resistance at 82. It did that today, and seems to be headed lower, though we won’t know until the tape closes at the end of the day. Here is a chart …
There’s crude oil, banging its head [...]
