Investment Management
Our Algo warns that Oil will come under pricing pressure over the next few weeks as consumers react to the higher gasoline prices. The recent price stall near $65 aligns with a key Fibonacci retracement level near $63.98 and we believe any further upside in Oil may be limited Our Algo believes a […]
RBC Capital’s Michael Trans calls this the “most bullish summer for crude in several years” while Ned Davis Research has turned positive as well recommending an Overweight on oil stocks West Texas Intermediate spot futures, the benchmark for North American oil, have risen nearly 20% so far this year to above $70 per […]
While we have turned bearish on Oil and see WTI going below the $40 level, pressured by shale, Citigroup tells Barron’s crude oil could touch $60 a barrel before the end of this year, as demand exceeds supply. That forecast would have been aggressively bearish as recently as three years ago, but with West Texas […]
CFTC data shows Hedge Funds Hedge increased bets on higher West Texas Intermediate crude prices for the first time in six weeks. Money managers’ WTI net-long position, or the difference between bets on a price increase and wagers on a drop, climbed 9.2 percent in the week ended April 4, after tumbling 41 percent in the prior […]
We see Brent crude bottoming at $48 per barrel and remain bullish with a target price of $60. According to U.K. research firm Oil Movements, The volume of oil in tankers fell around 9 million barrels from Dec. 31 to March 11, which equates to 123,000 barrels a day. The forecast is for volumes to […]
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