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July 14th, 2016

Watch the 5 and 8s. Long-term support holding.

Introduction.  Yesterday provided us with a text book demonstration of the power and relevance of the short term MAs. The recovery, on Tuesday, from assorted support compromising of long term…


July 13th, 2016

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…


July 13th, 2016

As oil prices are on the rise so is OPEC output

Yesterday we were provided with the first glimpse of where OPEC sees the 2017 oil supply/demand balance and in a nutshell they are quite bullish. They see a more than…


July 13th, 2016

Watch the 8 and 13 day MAs. They hold the clues.

Introduction.  RBOB’s wavering stochastics, and the fact that four out of the five contracts had held their 100 or 200 day MAs were the clues yesterday that a correction was…


July 12th, 2016

PVM Midday Report 12 July 2016

Headlines

OPEC sees 2017 global oil demand growth at 1.15 mbpd, call on its oil to rise by 1 mbpd
Secondary sources reveal OPEC crude oil output rose by 264,000 bpd in…