Technical & Fundamental Oil Reports Specialists

Follow us

ICE is bullish – NYMEX is undecided but more positive

Published Thursday, February 26th, 2015

April ICE: You might have got lucky, very lucky indeed. This contract closed over the 13-day M/A yesterday. The settlement, therefore, was a buy. It was said in yesterday’s report that in that case profit should be taken on a test of the 100-day contract M/A that is currently at 50.54. Well, this is where the contract opened this morning and if you had blinked before wanted to take profit you found the price much higher right after the opening. The contract then went straight to the 100-day continuation M/A where it turned. Anyway the lucky ones took profit at the latter that is at 51.95 and the less lucky ones at 50.54. Either way, it is now advised to be flat. Bulls should buy again on a dip to supports or on a close over resistance.

to read the rest of the report, please click here

Posted by Tamas Varga

Tamas Varga has been in the oil industry since 1992 and with PVM for 18 years. During his time in the industry he has gathered a range of experience in the oil markets. At PVM Tamas is in charge of data collection and analysis.