Crude oil setting up for upside breakout of huge multi-year consolidation pattern which dates back to 2003. Similar but smaller patterns occurred in 2011 which resulted in the 2014 downside break and subsequent decline in prices of $79, reaching a low of $25.75 in 2016 and again an even smaller pattern in 2017 which witnessed the 2018 […]
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Entries by vipercapital
Tuesday, November 13, 2018-The International Energy Agency (IEA) today warned that global oil shortage in the 2020’s decade is a very high probability and now is the time for producers to invest. IEA forecast calls for an increase in daily global demand by 7.5 million barrels per day between 2017 and 2025. IEA stated ” without any future capital investment into […]
West Texas Intermediate (WTI) reached a multi year high earlier this month at $77.06, not since Oct 2004 has WTI achieved the years high so late in the year. In Oct 2004, WTI was trading at $56.43 and was in the beginning phase of a multi year rise which eventually reached $147 on July 15, 2008. Similar to 2004, […]
Investors’ participation in oil and gas partnerships has reached a multi-year high in 2018 primarily due to a sustained rise in prices, but also due to capitalizing on large deductions in the year of the investment. Considered one of the top tax-advantaged investments, oil and gas partnerships not only offer large deductions but also provide […]
West Texas Intermediate (WTI) ($76.37) Technical Outlook West Texas Intermediate reached the $76.47 target cited in our January 2018 and March 3, 2018 forecast today with an intraday high of $77.06 and closed today at $76.37. This level found bids in 2011-2012 when prices ranged $74.95-112.56 for several months before a downside break of this $75 level in Nov 2014. […]