not sure if ya have the same but ... CD bounced off weekly A down ...target weekly pivot .9996ish BP leaning on the QTR A down 15854 AD thru the weekly A up would think mthly A of 10470 is in play using futures not forex
copper last over last 4 days the numberline has added +9 per fish... has failed at both of the weekly A's...not sure what to make of it? maybe hold the weekly pivot and mthly A down? 34590 and 34469
My 30 day on Copper is still pretty negative: -17 The low was -26 so yes, it has come off 9 pts. My 5 day on Copper is +2 and the monthly is +3. It has bounced off the monthly A down several times now and has failed at both the weekly A up and A down.
Natty gas traded up to the monthly A up today and failed and put in a -3 reversal day. Possible move back down to the monthly A down. The 5 day is back down to +1. The 30 day has pulled back to +6.
Brent/WTI trading over $26!!!!! This spread use to trade plus/minus $2 of parity for years. The middle east really driving this thing right now.
wow that is insane...think that spread used to trade like brent 1-2 under and the arb always kept it in line? today was dec brent expiry so i assume that helped add a bit to the volatility...dec wti expires tomoro which is a little early in the cycle but due to the holidays next week any idea where is the jan spread trading?
The cracks had a monster run this year. The heating oil cracks are off the highs of the year which were around $43, now $39. The gasoline cracks also had a great run trading near $27. That Brent/WTI is just going to get wider. We have a monster supply now of oil shale in this country that is going to go online in the next 5 years and Brent is going to be much more tied to the middle east. I'm betting this spread could trade north of $50 in the next few years.