Crude Oil Price

[MDunleavy]

Crude Oil Falls As Inventories Are Seen High And Plenty Of Supply
Analysis - Commodity Market Commentaries
Written by Finotec | Tue Apr 20 10 01:13 ET

OPEC violating production quotas at the same time as demand from industrialized nations stagnates is spurring bets in the oil market that the 13-month rally in crude is coming to an end. It's a bubble and we don't know when it's going to go bust, but it's just a question of time,' said Eugen Weinberg, a senior analyst with Commerzbank AG in Frankfurt. 'So enjoy the party but stay close to the door.' U.S. demand will drop 9.4 percent to average 18.84 million barrels a day this year, from a record 20.8 million in 2005, the Energy Department said on April 6. The U.S. uses more than twice as much crude as China, the second-biggest consumer. India is fourth. Crude oil is trading at $83.40 as of 21:25pm, London-Time, with a bearish trend. Crude's Pool-Position is 33% Long, meaning that most Finotec clients are selling the commodity.

"P&F O I L (brent) Box Size4X3 or(13.77%) CLOSE
Data 147.53 - 26.7 ~ 80 Month ~ 2450 Day
Database 1676 records 85.25 (Last Close)
2003-08-04 00~00
2010-04-19 00~00 (GMT+01:00) Paris
BJF Trading Group chart"



BJF-Trading-Group_Excel_Chart

 

[MDunleavy]

Continued to be a tug of war between bulls and bears, crude oil price initially fell below 70,
extending Friday's weakness after disappointing US payrolls and worries over Hungary's fiscal
condition, but then rebounded to as high as 72.49 after an encouraging employment trend survey
released by the Conference Board and a speech from Fed Chairman Ben Bernanke. Yet, concerns over
Eurozone have persisted and price retreated in late trade. The front-month WTI contract ended the
day flat at 71.44. Corresponding Brent crude contract moved in a similar pattern but closed at
73.59. Today in Asia, oil prices trade with upward bias, as Asian stocks recover after yesterday's
selloff.

"P&F O I L (brent) Box Size $4X2 or(9.1%) HI/LO
Data 149.51 - 26.25 ~ 81 Month ~ 2492 Day
Database 345 records 72.98 (Last Close)
2003-08-04 00~00
2010-05-31 00~00 (GMT+01:00) Paris
BJF Trading Group chart"
GO - Check this out NOW! =>>> _http://docs.google.com/View?id=dcftkq53_160f5rf86gg

Full size =>>> _http://iticsoftware.com/postimages/201005/BJF-Trading-Group-Oil0608.xls

 

[MDunleavy]

Crude oil edged further higher to 82.97 last week but retreat sharply since then. A temporary top is at least formed and initial bias is neutral this week. We’d continue to seem more retreat below 82.97 first. Nevertheless, note that another rise remains in favor as long as 75.90 support holds. Above 82.97 will target 100% projection of 64.23 to 79.38 from 71.09 at 86.24 next. However, break of 75.9 will be the first signal that whole rebound from 64.23 is finished and will turn focus to 71.09 support for confirmation.The text is written by Oilngold.

"P&F O I L (brent) Box Size $1X3 or(3.71%) CLOSE
Data 91.94 - 69.75 ~ 4 Month ~ 114.67 Day
Database 2000 records 80.33 (Last Close)
2010-04-14 05~00
2010-08-06 21~00 (GMT+01:00) Paris
BJF Trading Group MDunleavy chart"

92.00|~1OO||__+___________________________________________|-0.07%|31.9%
91.00|~2OO||__x_+_________________________________________|1.02%|30.47%
90.00|~3OO||__x_o_+_______________________________________|2.11%|29.03%
89.00|~4OO||__x_o___+_____________________________________|3.2%|27.6%
88.00|~5OO||o_x_o_____+___________________________________|4.29%|26.16%
87.00|~6OO||o_x_o_______+_________________________________|5.37%|24.73%
86.00|~7OO||o_x_o_________+_______________________________|6.46%|23.3%
85.00|~8OO||o___o___________+_____________________________|7.55%|21.86%
84.00|~9OO||____o_x___________+___________________________|8.64%|20.43%
83.00|~1OOO|____o_x_o___________+_____________________+___|9.72%|19%
82.00|~11OO|____o_x_o_____________+___________________x_+_|10.81%|17.56%
81.00|~12OO|____o_x_o_______________+_________________x_o_|11.9%|16.13%
80.00|~13OO|____o___o_________________x_______________x_o_|12.99%|14.7%
79.00|~14OO|________o_________________x_o_x___________x_o_|14.07%|13.26%
78.00|~15OO|________o_________________x_o_x_o_____x___x___|15.16%|11.83%
77.00|~16OO|________o_____________x___x_o_x_o_x___x_o_x___|16.25%|10.39%
76.00|~17OO|________o_____x___x___x_o_x_o___o_x_o_x_o_x_+_|17.34%|8.96%
75.00|~18OO|________o_____x_o_x_o_x_o_x_____o_x_o_x_o_+___|18.43%|7.53%
74.00|~19OO|________o_x___x_o_x_o_x_o_x_____o_x_o___+_____|19.51%|6.09%
73.00|~2OOO|________o_x_o_x_o___o_+_o_x_____o_x___+_______|20.6%|4.66%
72.00|~21OO|________o_x_o_x_____+___o_______o_x_+_________|21.69%|3.23%
71.00|~22OO|________o___o_x___+_____________o_+___________|22.78%|1.79%
70.00|~23OO|____________o_x_+_______________+_____________|23.86%|0.36%
69.00|~24OO|____________o_+_______________________________|24.95%|-1.08%
||||||~25OO|____________+_________________________________|100%|-100%
Column||||||4_6_1_4_1_3_5_7_3_3_3_4_5_8_4_3_8_6_3_4_3_7_3_|
Count|||||||____1___3_____________________________________|

BJF Trading Group. Excel Chart. Full size attached.

 

[MDunleavy]

Oil Light
I predict a bullish development of the price movement.
BJF Trading Group. Excel Chart. Full size attached.