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Let's see whether bulls can make another higher low (green arrow). Bulls are making some progress.
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No sharp pullback in the next couple of bars then it's an uptrend day.
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Triple top has been rare so this probably is just a range and since now near the range low, it might rebound soon to test the range high.
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Back in the USA. Going to take six weeks to work our way down the coast to our winter hang out. Spotty internet until then. Tried out Star Link in Vancouver for two days (friendly neighbor shared password). Going to go that way next couple of summers when we take our trailer to Alaska and the next year to the Maritime Provinces. Getting a bigger trailer as our Airstream Basecamp 20 does not work for four month road trips. Love the way it fits anywhere. Going to an airstream 23 (24 foot long) even though it is not as cool lookin.
Took profits in natural gas trusts and oil tanker stocks last spring. Looking to re-enter after the summer sell off.
Nat Gas needed a major hurricane season and it did not happen. Oil benefitting from the Saudis defending price. Problem is they have to cut production every other month or so. Stockpiles finally running low so I am thinking price will benefit from restocking for winter. Biggest issue is of course failing Chinese economy. That is why I like tankers, they are not totally dependent on CL price.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Back in the USA. Going to take six weeks to work our way down the coast to our winter hang out. Spotty internet until then. Tried out Star Link in Vancouver for two days (friendly neighbor shared password). Going to go that way next couple of summers when we take our trailer to Alaska and the next year to the Maritime Provinces. Getting a bigger trailer as our Airstream Basecamp 20 does not work for four month road trips. Love the way it fits anywhere. Going to an airstream 23 (24 foot long) even though it is not as cool lookin.
Took profits in natural gas trusts and oil tanker stocks last spring. Looking to re-enter after the summer sell off.
Nat Gas needed a major hurricane season and it did not happen. Oil benefitting from the Saudis defending price. Problem is they have to cut production every other month or so. Stockpiles finally running low so I am thinking price will benefit from restocking for winter. Biggest issue is of course failing Chinese economy. That is why I like tankers, they are not totally dependent on CL price.
Hey, quit having such a good time. Ha ha.
Thanks for the update. Good work re the tanker stocks. I like them too.
Charts posted are not recommendations. They are just a sharing of information.