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Showing results for tags 'crude oil'.
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Sorry I started a new thread as the thread before had Friday's date on it. I will post an analysis video once a day in this thread, hope it helps! Market Profile Crude Oil Analysis Monday 8.11.14
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WTI is also known as Texas light sweet crude oil.
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You know, I've been looking at the price of oil for a while now and thinking it's a problem for "the recovery". The questions you have to ask yourself are 1- Is the price of oil a good reflection of dwindling global resources? 2- Is the price of oil reflective of the diminishing value of the currency it's priced in? 3- Can the global economy currently rebound with a high value of oil? 4- What can central bankers do about it and would they do it anyway? The spike which saw values top out in mid '08 at just shy of $150 per barrel was blamed at the time on speculation. But is that all it is? I mean just look at the recent Libor revelations. It's a nailed on certainty that there is a whole heap more corruption in the world. People tend to do what they feel they can get away with or won't be pulled up on and then convince themselves it's morally justafiable. Well maybe some people are happy to do wrong in fairness. But the point is, this is human nature. Not acceptable in a civilized society. Don't mistake what I'm saying. So you have to assume there is something going on behind the scenes to artificially alter fair price. Look at what happened when everyone thought the apocalpyse was nigh. We hit a low of circa $30 per barrel only 6 months after being nearly $150!! What ever your opinion on why/if we have a high oil price, I'd be interested to hear it. I'd also really like to know whether anyone else believes that the high price of oil specifically is really hindering any economic recovery. I think it really, really is. Especially where small business is concerned. But that is really just opinion. I feel we need to drop back to somewhere in the region of $50 and hold for a while in order to really "stimulate" the global economy. But can that happen with the Federal Reserve willing to dilute the value of the dollar at any hint of poor data? It's funny how Europe is being pointed out as having an inadequate system when really isn't the entire system currently flawed??
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If you watch a business news report where for instance, the price of crude oil is reported to be $82 per barrel, you will see that this is a one-way quote. The two-way quote is more commonly used in the financial markets, and a trader will see this price quoted as 82.00/82.05 by his broker. This is an example of a two-way quote. All assets in the financial markets are displayed as two-way quotes for trading purposes.
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The price of crude oil saw steady gains throughout the morning session yesterday, climbing as high as $93.84 a barrel before dropping during mid-day trading. Analysts attributed the bullish movement to better than forecasted economic growth in several Asian countries. That being said, poor news out of the euro-zone and US eventually brought the commodity as low as $92.79. Turning to today, market sentiment toward the euro-zone is likely to dictate the direction oil takes. Fears that Greece will be forced to exit the euro-zone have led to significant risk aversion in the marketplace. Any announcements today that would indicate this trend will continue may weigh down on the price of oil. How ever the rupee has crashed from Rs 45 to Rs 54 to the dollar, before recovering slightly to Rs 52.80 on Friday. Dismayed corporations and politicians want the Reserve Bank of India (RBI) to intervene in currency markets and prop up the rupee. This would be a terrible mistake. The rupee's fall is not a technical monetary phenomenon. Rather, it signifies a loss of confidence in India by foreign investors, and by Indians too. Analysts at J.P. Morgan said that while the recent fall in Brent futures was expected due to a projected buildup in global inventories in the second quarter, the market could tighten in second half of the year as stocks are withdrawn. Nymex reformulated gasoline blendstock for June--the benchmark gasoline contract--fell 182 points to $2.8600 a gallon, while June heating oil traded at $2.8291, 199 points lower. ICE gasoil for June changed hands at $904.75 a metric ton, down $13.75 from Thursday's settlement. NOW will the next recession will hit the market or not thats the big question. Crude Oil Sees Mild Bullish Movement but as far i feel its not positive for Indian as i have been using the technical analysis tools of Dynamics level, then i started to read the reviews from various source, may be my perception is wrong but investors will withdraw from all markets associated with risk— including emerging markets like India--and rush into safe havens like the US and just sit on cash.
