The EUR/USD: pair closed lower after reversing its earlier gains for the week. On the upside, resistance comes in at 1.1800 level with a cut through here opening the door for more upside towards the 1.1850 level. Further up, resistance lies at the 1.1900 level where a break will expose the 1.1950 level. Conversely, support lies…
The offshore drilling industry continues to slowly recover, as I discussed in a number of recent reports (see: Seadrill Explains Current Offshore Drilling Market Environment, Analyzing Day Rate and Utilization Trends in the Offshore Drilling Industry – October 2017 Edition, Tracking Day Rate and Utilization Trends in the Offshore Drilling Industry – November 2017 Edition,…
The good news is: All of the major averages except the Russell 2000 (R2K) closed at all time highs last Friday. The Negatives The market is overbought. The secondaries are underperforming the blue chips. 52 week new highs have not been confirming all time new index highs. The first chart covers the past 6 months…
In our uranium outlook 2018 we said we are bullish on the uranium market, and concluded with this quote: The main factor at this point is the Uranium spot price as that’s what’s going to dictate the next direction in the Uranium sector. We believe the tide might be turning for Uranium price and for Uranium miners…
Fundamental Forecast for USOIL: Bullish Crude Oil Price News Talking Points: A market divided was the takeaway this week after OPEC & IEA have differing demand views The temporary shutdown of the North Sea pipeline that underlies Brent provided price volatility Per BHI, U.S. Oil Rig Count falls by 4 to 747, first drop in six weeks Oil…
There are no two ways about it: 2017 has been a brutal year for US dollar bulls. As of this writing, the world’s reserve currency has fallen against every one of its major rivals on the year, losing a staggering 12% against the euro and over 8% versus the British pound. Incredibly, this move has…
There are no two ways about it: 2017 has been a brutal year for US dollar bulls. As of this writing, the world’s reserve currency has fallen against every one of its major rivals on the year, losing a staggering 12% against the euro and over 8% versus the British pound. Incredibly, this move has…
Global financial markets ended the week on a mixed note after concern from investors over potential obstacles to Republican’s tax overhaul and a slate of policy meetings from major central banks in Europe. In the US, uncertainty over the progress of House and Senate Republicans in finalizing tax reform legislation sparked some volatility late in the…
Everyone’s bullish and bearish at the same time these days. This cognitive dissonance (a less charitable interpretation would be to just label it schizophrenia) is reflected in fund manager surveys which increasingly show investors are bullish on the very same assets they cite as being grossly overvalued. In the same vein, “bubbles” continually pop up…
