is... watching & waiting
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Cling to $37 into the numbers sweetheart...
DUST $4.09/$4.15 early... GDX headed for 18 handle, capitulation day?
Just crickets coming from the NUG board
Prime for -2/3% abroad tomorrow.. Pray for China's session
That's the only thing that has me itching to sell... do we care about data this week or should we close our eyes again?
$18 handle tomorrow GDX
Volume pouring out of GDX into LOD close .. nice n dusty today
Wonder how much money China prints tonight
Permission to take-off?
Just beautiful... last hurdle at $19.57/.65, air-pocket right below could create a sizeable retrace, $19.92 prior support tested after first green candle of the day and held... maybe this puppy's finally out of gas
In $3.5 ... Wow what an open, first 5 min candle completely outside upper bolly, tested $20.7 GDX and reversed hard.. tested LOD yesterday and recovered some, looking for it to ram it's head into $20.17 and blow down into the 19's
Roll the f over old man
Left is right, up is down, etc.
GDX set to open +1.18% - $20.64 bid atm. $20.50 is resistance turned support, targeting $20.70/.75 as resistance to the uptrend today. Gold flattening a bit after a decent night trading, 1280 still standing tall.
One last push in GDX to $21/.20? Give us some $2's to ride to $4
I thought we were celebrating production declines my bad, too much good news oil hard to remember why its up one day and not another...
FOMC has the green light.. pray $38 becomes support
Haha holy shh 1 for 25
Feeling's mutual.. considered adding those 15's more than once
U.S. production wouldn't come back online above $40?
Almost unfollowed twice in one week .. but na we can deff cancel the ol OPEC meeting now
Solid close - suspect we're headed to $21.17/.25 GDX ... may get some Dust $3.1's tomorrow unless gold's rug is pulled
Eco calendar forecasting 3.578M build in crude - bring them rigs back online it's $38 a barrel out here... we gotta glut to tend to
Watch for GDX to close above $20 today, 200sma/50sma coming into play. Might see another push at $21 but I'm expecting for a pullback (~$18.9) by middle of next week.
Inverse h/s anyone?
Gold doesn't cool DUST could channel $3.3-$4.1 into summer
Couple bad 5 min candles - inching towards unch
Couple terrible 5 min candles - headed toward Unch
The quintessential question is whether the commodity will continue its upward trend. Despite a few positives, several issues remain.
Iran
Iran recently made an entry in the oil export market, after EU and US sanctions were lifted. Iran is in no mood to freeze production, and is in fact, looking to collaborate with a number of foreign energy producers, and increase production levels.
According to a recent report by Reuters, the director of the National Iranian Oil Co (NIOC) has said the country’s oil and gas condensate exports would augment to 2 million barrels of oil equivalent per day (boepd), by the end of this month. Iran’s willingness to increase production and exports is bound to be troubling for the Organization of Petroleum Exporting Countries (OPEC) and other oil investors.
US Oil Inventories
Despite declines in rig count, US inventories remain robust. US crude oil inventories now amount to 518 million barrels, which is an all-time high. US oil production could witness major declines in coming months, but a recovery in crude prices will in fact, move it to raise production again.
According to CNBC reports, several US oil and gas companies, including Continental Resources Inc. (NYSE:CLR) have hinted that the rise of crude to $40 per barrel, would be enough to trigger a production increase.
Conclusion
We believe the recent short squeezes in the energy sector are not sustainable for the long haul. The supply still outweighs the demand, and the weak Chinese market means an immediate rebound is not on the cards.
http://www.bidnessetc.com/64954-recent-energy-short-squeeze-sustainable-longrun/
U.S. crude inventories rose last week to a record high of 517.98 million barrels even as output fell for a sixth straight week, the U.S. Energy Information Administration said.
"We have seen another 12 million barrels arrive in the Gulf of Mexico this week from the Arab Gulf, and another 11.4 million from Central and Latin America," said Matthew Smith, who tracks crude cargoes for New York-based Clipper Data. "All these while we continue to see a backlog of cargoes in the Gulf of Mexico, more than double volumes we usually see."
http://www.reuters.com/article/us-global-oil-idUSKCN0W601K
Nibbled into the close while the U board was whistling n pinching each other
GDX tanking right before our eyes... bearish reversal from +4% to down .4% this session... and f a l l i n g - $19.6 needs to hold up to avoid an 18 when we wake up.
Congrats to those that scooped D
Huge lots being dumped one after the other... lookin to seeing the OS this spring
Oil running - 190's are going to look like a steal at some point this month
LOD test coming
S&P testing 50sma - 1975 breaks TVIX goes parabolic
GDX going parabolic - resistance at $21.3/$21.8
5 min candle completely outside upper bolly - should pullback a quarter
NG almost to Unch - found a bid low $1.6's
This could roll over and die any second
Nice little head fake shortly thereafter the release... Gold had a terrible 5 min candle only to put in going on 4 higher now
How can they not raise now?
They're really going to run her... a week before FOMC... maybe we're the fools I guess
Oil's runnin look out
Gold trying to decide what it wants to do, oil still fighting $35 jobs blows out estimates... time for a hike