Wednesday, July 30, 2008

Oil Comment

Technical Repor t :

We had another ‘outside day’ yesterday with a close well below Monday’s low which is a very bearish chart pattern. Another bearish factor is that we crossed down and closed below the 100 day moving average, the first time we have been below that since early February. The fact that we took out the low of 05/06/08 ($121.32)is a worry for the long term trend as we need to see higher peaks and troughs for the trend to remain intact .

The short and medium term trends are down while the long term trends remain bullish.

Support: $120.88 (Yesterdays low) Resistance: $130.50(low of 10/06/08)

Support: $117.56 (high of 25/04/08) Resistance: $126.79 (yesterday’s high)

Support : $114.31 (low of 05/05/08) Resistance: $126.61 (9 day moving average)


Earlier in the month the news of explosions in two pipelines in Nigeria would have sent us to t he moon. Especially with Shell calling Force Majeure on Nigerian shipments, the continuing concerns of the Middle East and Hurricanes flying around but we broke through major support on the basis of a strong dollar and a technically weak chart . As mentioned before it is not so much the news but how the market reacts to it that is important and we can see that there is not a great appetite for Oil at the moment and the continuing bearish technical picture should suggest a further test of support levels. As always on a Wednesday, the DOE stats could send us rapidly in any direction.

DOE Stock Estimates (Change in millions bbls)

Crude -0.9 Gasoline +0.1 Distillate +1.7

Rule of Fours

The Rule of Fours
Tag time! Friends, thanks for all the tags! I will try to do all my backlogs as soon as i can! Promise! For now, here's one from Yvelle. Thanks sis!

4 Jobs I Have Had Travel Agent , then an "All Around" managing our business - Accounting, Sales & Marketing, General Manager

4 Movies I Watched Over and Over Again The Matrix Trilogy, LOTR Trilogy, Devils Advocate, Glass House,

4 Places I Have Lived Quezon City, Makati, Manila, Pasig (Philippines)

4 Shows I Watch HBO Original movies, CSI, ANC Cashflow, Bloomberg

4 Places (Countries) I Have Been Hong Kong, Bangkok, Singapore

4 People Who Email Me Relatives & Friends

4 Favorite Things to Eat Coffee, Chocolates, Crepes, Pasta

4 Places I would Rather Be at home with my family, visit my brother in Canada.

4 Things I Look Forward to This Year my daughter's birthday, Christmas, Our wedding anniversary

. 4 People To Tag sheng, jown, liza, dexie


Weekly Pivots

Current Pivot Points for Week July 28 to Aug 1, 2008 for the following currencies: EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD, AUD/USD, GBP/JPY, EUR/JPY

Daily Pair Priority

First Priority

EUR/JPY - Waiting for Bearish continuation
GBP/JPY - waiting for bearish Reversal
CHF/JPY - bearish continuation

Second Priority
GBP/USD - Bullish Retracement
EUR/USD - Waiting for Bullish retracement
EUR/GBP - waiting for Bearish continuation
AUD/USD - Waiting for Bearish continuation

Tuesday, July 22, 2008

Quotes for Today

Wherever you are is home
And the earth is paradise
Wherever you set your feet is holyland
--Author unknown

Wednesday, July 16, 2008

Why do we need friends

This is from one of my friend here in the wonderful world of blogging! Thanks, sheng :)

We need friends for many reasons,

all throughout the season.

We need friends to comfort us

when we are sad,

and to have fun with us

when we are glad.

We need friends to give us good advice,

We need someone we can count on,

and treat us nice.

We need friends to remember us

one we have passed sharing memories

that will always last.

I am passing this to michelle, ummi, emz, rhea, john & everyonein my blogroll . . . for being a part of my amazing blogging life!


RISK WARNING: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your monetary objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent advisor if you have any doubts. Past returns are not indicative of future results.
This blog, assume no responsibility for errors, inaccuracies or omissions in these materials and shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials.


click on the label cloud above to view other blog posts