link to Brent price

link to WTl price

link to Exchange Rates

link to GBP/USD

link to GBP/EUR


Brent Crude & West Texas Light Charts..
---------------------------------------------





BP. and RDSB Charts.
------------------------






Gold and Cable Charts.
--------------------------

Silver and Platinum Charts.
-------------------------------







GBP/USD
-----------



GBP/EUR
-----------

As OPEC cuts, traders send European oil volumes to Asia

Is oil price heading back below $50? - By Alistair Strang | Wed, 11th January 2017 - 09:50

technical analysis trends targets Written: 10 January 2017 - 10:55pm

This is causing a degree of puzzle, due to the price hitting the $50s and essentially stopping. Our in-house rule of thumb when this sort of thing happens is to look for reasons it will instead go down, despite the presence of pretty lines on charts.

We've no doubt the downtrend from 2014 was valid but, unfortunately, when the price of Brent bettered this trend, it achieved our initial halfway target then seemed to lose interest. The price was supposed to achieve our secondary above $55 at $60.5, but has failed to show any real strength.

Therefore, the situation now is a bit interesting as, should the price of the product close a session below $53.37, we're looking at coming reversal toward $52.88 initially with secondary, if broken, around $49.15. This would represent a bonk against the red line on the chart below, the immediate uptrend.

At time of writing, Brent is trading at $53.9 and is coming close to triggering a reversal cycle. Of course, the big question is whether $49.15 (or so) would provoke a bounce, or is there a risk of the product dripping below such a point?

--

Currently, there is ample reason to believe that below $49.15 will indeed provide a bounce, as movement below would signal the immediate uptrend has failed, propelling the product into a region where $47.4 becomes viable and, frankly, below risks a sharp dip into the 30s.

For now though, our suspicion is the price is trapped, essentially oscillating between the $53.3 and $58.5 level for a while, doubtless waiting an excuse to either weaken or strengthen.

Immediate calculations warn us not to take any rise seriously unless the price betters $56.4, as this should provoke growth to $57.5, a fairly important number 'cos if $57.5 is bettered we shall start talking about $60.5 thereafter.

For now, it's not messy, just pretty boring. Perhaps a visit to the $60.5 level will serve to break the oilers index above the blue line.

Trump dooms dollar to worst January since 2008

Your gold charts in the header don't load any more.
They try to load and then just revert to an icon.

Harry - there seems to be a problem with their site - hopefully its transient!

Harry - I've found an alternative stite for the gold chart - unfortunately MAM restricts my posting it.

Here's the link anyway

Thanks skinny. I have been using the Kitco one in the header on the POG thread for ages, which always seems to work. I am more interested in daily or weekly trends rather than a minute by minute price, as they give me a guide as to where the gold producers price should be going.

Harry - as if by magic - they are working again!!

Oil prices hold ground after U.S. stockpiles soar to record - Wed, 15th Feb 2017 20:35

* U.S. crude, gasoline stockpiles at all-time high -EIA
* High OPEC compliance with supply cuts supports prices
* Weaker dollar also supports crude prices

NEW YORK, Feb 15 (Reuters) - Oil prices eased slightly on Wednesday in choppy trade as record high U.S. crude and gasoline inventories fed concerns about a global glut.

The bearish U.S. inventory data was largely offset by evidence earlier this week that the Organization of the Petroleum Exporting Countries and other producers were complying with agreed-upon supply cuts. A weaker dollar also helped to support greenback-denominated oil.

"There's a certain resilience in price - forward expectations that we are going to reduce supplies globally is holding the market," said Gene McGillian, manager of market research at Tradition Energy in Stamford, Connecticut.

U.S. crude stocks soared 9.5 million barrels last week, nearly three times forecasts, to reach a peak at 518.12 million barrels, U.S. Energy Information Administration (EIA) data showed.

U.S. gasoline stocks also hit a record, rising 2.8 million barrels to 259.1 million barrels.

Prices had whipsawed after the EIA data, but at settlement, Brent futures ended down 22 cents, or 0.4 percent, at $55.75 a barrel and U.S. crude fell 9 cents, or 0.2 percent, to $53.11 a barrel.

Bloomberg - For the first time ever, hedge funds hold more than a billion barrels of bets that crude oil prices will rally. Money managers last week extended their faith in OPEC-led supply cuts, increasing outright long positions in the global benchmark Brent and its U.S. counterpart West Texas Intermediate to a fresh record. Speculators are on hold, though, with futures in New York stuck in the tightest range in 13 years and Brent implied volatility the lowest in more than two years, data compiled by Bloomberg show.

U.S. oil holds near seven-week high; OPEC upbeat on output curbs

Gold charts seem to have gone AWOL again!

Marvelous!! :0)

Oil rises as OPEC achieves output targets

Oil majors reverse decade of stalled growth to beat supply crunch fears