Tag: Crude Oil

Daily Video Update: As we start Q3 is a global slowdown in the cards?

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Monday, the 2nd of July.

A surprise announcement out of the European summit pushed the market higher on Friday. It was also the end of the week, the end of the month, and the end of the quarter. For Q2 most of the markets were down, including the equity markets. We think that's an important element to look at. We still believe the trend is down and intact and that Friday was more of a short covering rally.

2 STOCKS ON THE MOVE TODAY:
The following stocks had monthly BUY signals based on our Trade Triangle Technology and liquid volume of over one million shares traded daily:
ARMOUR RESIDENTIAL REIT (ARR) New Monthly Trade Triangle @ 7.10
SUNTRUST BANKS (STI) New Monthly Trade Triangle @ 24.83 Continue reading "Daily Video Update: As we start Q3 is a global slowdown in the cards?" →

Some Thoughts On Oil And My Favorite Indicator: MACD

Posted on by The INO.com Team

Today we’ve asked Tony Edwards to share his favorite indicator with our readers. Tony Edwards has been an active independent trader for nearly 20 years. He trades an extremely wide range of instruments with a special focus on YM, ES, 6E, CL and GC. He offers traders daily, unique support and resistance levels (“TraderSmarts Numbers”) as well as Live Trade Alerts via www.tradersmarts.net.

Today I thought I would talk about my favorite indicator, the MACD.

I could start by telling you what the MACD is (stands for Moving Average Convergence Divergence and plots 2 lines and a histogram. The MACD line, or the fast line, is the 12 day EMA - the 26 day EMA, the signal line, or slow line, is the 9 day EMA of the MACD line, and the MACD Histogram is the MACD line - the signal line) or who invented it (Gerald Appel in the late 1970's) but instead I am going to tell you how I use and interpret it. Continue reading "Some Thoughts On Oil And My Favorite Indicator: MACD" →

Oil falls below $84 amid waning EU euphoria

Posted on by The INO.com Team

By PABLO GORONDI
Associated Press

The price of oil fell below $84 a barrel Monday, unwinding some of the massive gains made Friday, when investors cheered the latest EU plans to tackle the continent's debt and economic woes. Signs of an economic slowdown in China also weighed on markets.

By early afternoon in Europe, benchmark oil for August delivery was down $1.35 at $83.61 a barrel in electronic trading on the New York Mercantile Exchange.

In London, Brent crude for August delivery was down $1.50 at $96.30 per barrel on the ICE Futures exchange.

On Friday, crude soared $7.27 to close at $84.96 in New York after the leaders of the 27 European Union countries said that they would seek to centralize regulation of European banks and, if necessary, bail them out directly, instead of funneling loans through governments that already have too much debt.

The EU said it also plans to ease borrowing costs for Italy and Spain, the third- and fourth-largest of the 17 economies that use the euro, stop mandating painful budget cuts to every country in need of emergency financial aid and tie their budgets, currency and governments more tightly. Continue reading "Oil falls below $84 amid waning EU euphoria" →

Oil soars 9 pct as Europe moves to tackle crisis

Posted on by The INO.com Team

By CHRIS KAHN
AP Energy Writer

(AP:NEW YORK) Oil soared the most in more than three years after European leaders took surprisingly aggressive steps meant to halt a debt crisis that has undermined the regional economy.

Benchmark U.S. crude jumped by $7.27, or 9.4 percent, on Friday to end the week at $84.96 per barrel in New York. Brent crude, which helps set the price of imported oil, rose by $6.44, or 7 percent, to $95.51 per barrel in London.

The surge could end a nearly three-month decline in U.S. gasoline prices. The national average for gas had declined from $3.94 per gallon in the first week of April to $3.35 on Friday. Continue reading "Oil soars 9 pct as Europe moves to tackle crisis" →

Daily Video Update: Wow!! I Guess Europe is not quite ready to roll over and play dead.

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Friday, the 29th of June.

The devil is in the details and the situation in Europe has yet to be clarified. Let's see what happens when the details come out. At the moment, the markets are reacting positively to this quasi arrangement in Europe, but I believe it's too early to tell even looking at the markets. Continue reading "Daily Video Update: Wow!! I Guess Europe is not quite ready to roll over and play dead." →