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Archive for December, 2014

December 31st, 2014

The odds are still on further pressure on supports

The market closed higher yesterday but this strength was not fierce enough to change the underlying technical picture. On the other hand, the contracts did not quite get down to…

December 30th, 2014

Supports have been closed below; The downtrend continues

Apart from a mini and very short-lived rally in the early part of yesterday bears firmly remained behind the steering wheel. Not only are they in full control of the…

December 29th, 2014

Sell rallies to the 13s; Down trend intact

The Christmas period did nothing to encourage bulls although it has to be said that the extent of the price fall has slowed somewhat but this might have been due…

December 23rd, 2014

Watch the 5 and 8 day MAs, sell a rally to the 13s. Recent lows imp’ support

The contracts failed to stay over the 8 day MAs yesterday and, as a result, moved lower, slingshot (s/s) fashion, to the 5 day MAs. These were also breached and…

December 22nd, 2014

PVM Midday Report 22 December 2014

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News

PVM Midday Report 13 June 2016

Headlines

OPEC hints at tighter oil balance in 2H 2016; output down 100,000 bpd in May
Chinese implied oil demand falls by 380,000 bpd in May y/y to 10.24 mbpd
Iran’s biggest oil…

$50 bbl proving to be a formidable obstacle

Front month Brent and WTI both broke through the $50 bbl barrier yesterday but were unable to hold on to the gains. The trigger for the gains was news of…

Watch RBOB’s 13 day around 145.42 for guidance. Being below the 5 and 8s on the rest is not good.

Introduction. Last night’s closes were respectable, except for the fact that RBOB, although having held its 13 day MA on the dip, was still below the 5 and 8 day…

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Reports

PVM Midday Report 15 July 2016

Chinese refinery crude throughputs hit record high on daily basis of 10.97 mbpd in June
BoAML sees Brent and WTI rising to $55 and $54/bbl respectively by year-end
Chinese 2Q GDP annual…

PVM Midday Report 14 July 2016

Headlines

BoE keeps interest rates on hold at historic low of 0.5%, hints at stimulus in August
Singapore fuel oil stocks hit three-week high of 27.545 million bbls
BoJ officials quash hopes of…

PVM Midday Report 13 July 2016

Headlines

IEA expects return to growth in non-OPEC oil supply next year; demand to rise by 1.3 mbpd
OPEC crude oil output rises by 400,000 bpd in June to 8-year high of…

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