AUG 28 THURSDAY
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 370 , S2 RS 367
R1 RS 378 , R2 RS 383
STAY LONG.
Gasoline inventories are projected to fall
2.9 million barrels , a fifth straight weekly
decline , as refiners were seen drawing down
inventories of summer grade gasoline.
Thursday, August 28, 2008
Wednesday, August 27, 2008
UPDATES ON AUG 27 2008
AUG 27 WEDNESDAY
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
SUPPORT 1 RS 367 , SUPPORT 2 RS 363
RESISTENCE 1 RS 373 , RESISTENCE 2 RS 377
STAY LONG
Gasoline for September delivery climbed 9.12 cents
or 3.2 % to $ 29735 a gallom in New York.
Thw hurricane , located 120 Kms south - south east
of the Haitian capital , Port Au Prince was heading
north west. Forecast from the hurricane centre show
Gustav striking Haiti later in the day.
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
SUPPORT 1 RS 367 , SUPPORT 2 RS 363
RESISTENCE 1 RS 373 , RESISTENCE 2 RS 377
STAY LONG
Gasoline for September delivery climbed 9.12 cents
or 3.2 % to $ 29735 a gallom in New York.
Thw hurricane , located 120 Kms south - south east
of the Haitian capital , Port Au Prince was heading
north west. Forecast from the hurricane centre show
Gustav striking Haiti later in the day.
Friday, August 22, 2008
UPDATES ON AUG 22 2008
AUG 22 FRIDAY
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 361, S2 RS 357
R1 RS 368 , R2 RS 373
BUY AT RS 361.50 TO 361
STOP LOSS RS 357
TARGET RS 368
Crude oil is headed for its biggest weekly increase in
more than two months after rising almost 5 percent
yesterday as the dollar slumped, prompting
investors to buy commodities.
The dollar traded at $1.4866 per euro at 11:24 a.m. in
Singapore. It dropped 1 percent yesterday and touched
$1.4903, the weakest level since Aug. 14 and the biggest
fall since June. The dollar has risen 4.8 percent versus the
euro in August, which would be the biggest monthly
gain since May 2001.
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 361, S2 RS 357
R1 RS 368 , R2 RS 373
BUY AT RS 361.50 TO 361
STOP LOSS RS 357
TARGET RS 368
Crude oil is headed for its biggest weekly increase in
more than two months after rising almost 5 percent
yesterday as the dollar slumped, prompting
investors to buy commodities.
The dollar traded at $1.4866 per euro at 11:24 a.m. in
Singapore. It dropped 1 percent yesterday and touched
$1.4903, the weakest level since Aug. 14 and the biggest
fall since June. The dollar has risen 4.8 percent versus the
euro in August, which would be the biggest monthly
gain since May 2001.
Thursday, August 21, 2008
UPDATES ON AUG 21 2008
AUG 21 THURSDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 355 , S2 RS 351
R1 RS 362, R2 RS 365
SELL AT RS 361.50 TO 362
STOP LOSS RS 365
TARGET RS 355
Oil Gains a Third Day on U.S.-Russia Tensions, Gasoline Supply .
Gasoline demand in the U.S. peaks during the summer,
when Americans take to the highways for vacations. The
so-called driving season lasts from the Memorial Day
weekend in late May to Labor Day in early September.
U.S. fuel demand averaged 20.2 million barrels a day
during the past four weeks, down 3 percent from a
year earlier, the department said. Gasoline
consumption averaged 9.46 million barrels a day
over the period, down 1.6 percent.
Refineries operated at 85.7 percent of capacity in the
week ended Aug. 15, down 0.2 percentage point from
the week before and the lowest since the week ended
May 2, the report showed.
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 355 , S2 RS 351
R1 RS 362, R2 RS 365
SELL AT RS 361.50 TO 362
STOP LOSS RS 365
TARGET RS 355
Oil Gains a Third Day on U.S.-Russia Tensions, Gasoline Supply .
Gasoline demand in the U.S. peaks during the summer,
when Americans take to the highways for vacations. The
so-called driving season lasts from the Memorial Day
weekend in late May to Labor Day in early September.
U.S. fuel demand averaged 20.2 million barrels a day
during the past four weeks, down 3 percent from a
year earlier, the department said. Gasoline
consumption averaged 9.46 million barrels a day
over the period, down 1.6 percent.
Refineries operated at 85.7 percent of capacity in the
week ended Aug. 15, down 0.2 percentage point from
the week before and the lowest since the week ended
May 2, the report showed.
Wednesday, August 20, 2008
UPDATES ON AUG 20 2008
AUG 20 WEDNESDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 350.60 , S2 RS 341
R1 RS 356, R2 RS 360
WAIT FOR CONFIRMATION
U.S. supplies of gasoline probably fell 3 million barrels last week
from 202.8 million barrels the previous week, according to
the median of 13 responses in a Bloomberg News survey
of analysts. The Energy Department is scheduled to
release the report at 10:35 a.m. in Washington.
Gasoline for September delivery rose 1.81 cents, or
0.6 percent, to $2.8820 a gallon on the Nymex at
11:15 a.m. Singapore time. It rose 4.87 cents, or
1.7 percent, yesterday to settle at $2.8639 a gallon
in New York. Futures reached a record $3.631 a
gallon on July 11.
Inventories of crude oil probably rose 1.05 million barrels in
the week ended Aug. 15, the survey showed. Stockpiles
of distillate fuel, including heating oil and diesel, probably
gained 1 million barrels.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 350.60 , S2 RS 341
R1 RS 356, R2 RS 360
WAIT FOR CONFIRMATION
U.S. supplies of gasoline probably fell 3 million barrels last week
from 202.8 million barrels the previous week, according to
the median of 13 responses in a Bloomberg News survey
of analysts. The Energy Department is scheduled to
release the report at 10:35 a.m. in Washington.
Gasoline for September delivery rose 1.81 cents, or
0.6 percent, to $2.8820 a gallon on the Nymex at
11:15 a.m. Singapore time. It rose 4.87 cents, or
1.7 percent, yesterday to settle at $2.8639 a gallon
in New York. Futures reached a record $3.631 a
gallon on July 11.
Inventories of crude oil probably rose 1.05 million barrels in
the week ended Aug. 15, the survey showed. Stockpiles
of distillate fuel, including heating oil and diesel, probably
gained 1 million barrels.
Wednesday, August 13, 2008
UPDATES ON AUG 13 2008
AUG 13 WEDNESDAY
SHORT TERM TREND : BEARISH : TARGET RS 346
LONG TERM TREND : BULLISH : TARGET RS 530
S1 RS 352, S2 RS 348, S3 RS 343
R1 RS 358, R2 RS 363, R3 RS 367
PREFER SHORT AT RS 358 TO 358.30
STOP LOSS RS 363
TARGET RS 351
Natural Gas Is Steady as Crude Oil Slips, U.S. Dollar Holds .
Natural gas in New York was little changed, erasing an
earlier advance, as crude oil slipped to a 14-week low
and the dollar held against the euro.
Oil fell more than $1 a barrel and the dollar was steady at
$1.4923 per euro at 2:36 p.m. in New York, from $1.4909
yesterday. It earlier touched $1.4816, the strongest since
Feb. 26. A stronger dollar prompts investors using
commodities as an inflation hedge to exit the market.
Natural gas for September delivery fell 1.9 cents to settle
at $8.33 per million British thermal units at 3:05 p.m. on
the New York Mercantile Exchange. It earlier rose as high
as $8.489 per million Btu and has dropped 38 percent
since closing at $13.577 on July 3, the highest in 30
months.
Crude oil for September delivery slid $1.44, or 1.3 percent,
to settle at $113.01 a barrel in New York. Futures touched
$112.31 today, the lowest close since May 1, and climbed as
high as $115.95. Oil climbed to a record $147.27 on July 11.
Inventories gained 56 billion cubic feet in the week ended
Aug. 8, according to the median of seven analyst
estimates complied by Bloomberg. The average change
for this time of year over the past five is an increase
of 50 billion.
The Energy Department is scheduled to release its weekly
supply update on Aug. 14 at 10:35 a.m. in Washington.
Domestic gas output is expected to increase by 8 percent this
year, the Energy Department said in its monthly Short-Term
Energy Outlook released on July 8. The next report is
due on Aug. 12.
U.S. gas prices may average $9 per million British thermal units in
2009, the analysts said. The 2009 average price for futures
today is $9.244 per million Btu, according to data
compiled by Bloomberg.
SHORT TERM TREND : BEARISH : TARGET RS 346
LONG TERM TREND : BULLISH : TARGET RS 530
S1 RS 352, S2 RS 348, S3 RS 343
R1 RS 358, R2 RS 363, R3 RS 367
PREFER SHORT AT RS 358 TO 358.30
STOP LOSS RS 363
TARGET RS 351
Natural Gas Is Steady as Crude Oil Slips, U.S. Dollar Holds .
Natural gas in New York was little changed, erasing an
earlier advance, as crude oil slipped to a 14-week low
and the dollar held against the euro.
Oil fell more than $1 a barrel and the dollar was steady at
$1.4923 per euro at 2:36 p.m. in New York, from $1.4909
yesterday. It earlier touched $1.4816, the strongest since
Feb. 26. A stronger dollar prompts investors using
commodities as an inflation hedge to exit the market.
Natural gas for September delivery fell 1.9 cents to settle
at $8.33 per million British thermal units at 3:05 p.m. on
the New York Mercantile Exchange. It earlier rose as high
as $8.489 per million Btu and has dropped 38 percent
since closing at $13.577 on July 3, the highest in 30
months.
Crude oil for September delivery slid $1.44, or 1.3 percent,
to settle at $113.01 a barrel in New York. Futures touched
$112.31 today, the lowest close since May 1, and climbed as
high as $115.95. Oil climbed to a record $147.27 on July 11.
Inventories gained 56 billion cubic feet in the week ended
Aug. 8, according to the median of seven analyst
estimates complied by Bloomberg. The average change
for this time of year over the past five is an increase
of 50 billion.
The Energy Department is scheduled to release its weekly
supply update on Aug. 14 at 10:35 a.m. in Washington.
Domestic gas output is expected to increase by 8 percent this
year, the Energy Department said in its monthly Short-Term
Energy Outlook released on July 8. The next report is
due on Aug. 12.
U.S. gas prices may average $9 per million British thermal units in
2009, the analysts said. The 2009 average price for futures
today is $9.244 per million Btu, according to data
compiled by Bloomberg.
Friday, August 8, 2008
UPDATES ON AUG 8 2008
AUG 8 FRIDAY
SHORT TERM TREND : BEARISH : TARGET RS 353
LONG TERM TREND : BULLISH: TARGET RS 530
S1 RS 358, S2 RS 355, S3 RS 353
R1 RS 362.50, R2 RS 365, R3 RS 368
PREFER SHORT AT RS 362.50 TO 363
STOP LOSS RS 365
TARGET RS 358
Natural Gas Falls on Above-Average Supply Gain, Milder Weather .
Natural gas in New York fell after a government report showed
inventories rose more than average for this time of year and on
forecasts for milder weather.
Stockpiles increased 56 billion cubic feet in the week ended Aug. 1,
to 2.517 trillion cubic feet, the U.S. Energy Department said in a
report today. The average change for this time of year over
the past five is 50 billion cubic feet. Analysts expected an
increase of 62 billion cubic feet.
Natural gas for September delivery fell 21.4 cents, or 2.4 percent,
to $8.559 per million British thermal units at the 2:30 p.m,
close of floor trading on the New York Mercantile Exchange.
Futures have fallen 36 percent since June 30 on bigger-than-
expected gains in inventory and lower crude oil prices.
Gas earlier touched $9.092.
Gas supplies are 6 billion, or 0.2 percent, below the five- year
average and 353 billion cubic feet, or 12.3 percent, below the
same period a year earlier, when stockpiles rose to a record,
the department said. The five-year average in storage to
start winter on Nov. 1 is 3.327 trillion.
Reduced imports of natural gas from Canada and declining
shipments of liquefied natural gas, lured away from the U.S. by
higher prices in Asia and Europe, is being countered by increased
domestic production, analysts have said.
Gas also fell as crude oil pared an earlier advance. Oil for September
delivery rose $1.26, or 1.1 percent, to $119.84 a barrel in New York.
Futures earlier touched $121.78.
SHORT TERM TREND : BEARISH : TARGET RS 353
LONG TERM TREND : BULLISH: TARGET RS 530
S1 RS 358, S2 RS 355, S3 RS 353
R1 RS 362.50, R2 RS 365, R3 RS 368
PREFER SHORT AT RS 362.50 TO 363
STOP LOSS RS 365
TARGET RS 358
Natural Gas Falls on Above-Average Supply Gain, Milder Weather .
Natural gas in New York fell after a government report showed
inventories rose more than average for this time of year and on
forecasts for milder weather.
Stockpiles increased 56 billion cubic feet in the week ended Aug. 1,
to 2.517 trillion cubic feet, the U.S. Energy Department said in a
report today. The average change for this time of year over
the past five is 50 billion cubic feet. Analysts expected an
increase of 62 billion cubic feet.
Natural gas for September delivery fell 21.4 cents, or 2.4 percent,
to $8.559 per million British thermal units at the 2:30 p.m,
close of floor trading on the New York Mercantile Exchange.
Futures have fallen 36 percent since June 30 on bigger-than-
expected gains in inventory and lower crude oil prices.
Gas earlier touched $9.092.
Gas supplies are 6 billion, or 0.2 percent, below the five- year
average and 353 billion cubic feet, or 12.3 percent, below the
same period a year earlier, when stockpiles rose to a record,
the department said. The five-year average in storage to
start winter on Nov. 1 is 3.327 trillion.
Reduced imports of natural gas from Canada and declining
shipments of liquefied natural gas, lured away from the U.S. by
higher prices in Asia and Europe, is being countered by increased
domestic production, analysts have said.
Gas also fell as crude oil pared an earlier advance. Oil for September
delivery rose $1.26, or 1.1 percent, to $119.84 a barrel in New York.
Futures earlier touched $121.78.
Wednesday, August 6, 2008
UPDATES ON AUG 6 2008
AUG 6 WEDNESDAY
SHORT TERM TREND : BEARISH : TARGET RS 358
LONG TERM TREND : BULLISH : TARGET RS 530
S1 RS 367, S2 RS 363, S3 RS 358
R1 RS 373.50, R2 RS 377, R3 RS 381
PREFER SHORT AT RS 373.50 TO 374
STOP LOSS RS 377
TARGET RS 363
U.S. gasoline demand fell for a 15th consecutive week, as
motorists cope with high fuel prices by driving less,
according to a MasterCard Inc. report yesterday.
Demand last week dropped 3.4 percent from a year
earlier, MasterCard, the second-biggest credit-card
company, said in its weekly SpendingPulse report.
Nymex gasoline for September delivery fell as much as 1.89
cents, or 0.6 percent, to $2.9375 a gallon. Yesterday it lost
4.38 cents, or 1.5 percent, to $2.9564 a gallon, the lowest
close since May 1. Futures fell 13 percent last month, the
biggest drop since September 2006, as a slowing economy
cut demand for the fuel.
Tropical storm Edouard was downgraded to a depression after
it made landfall on the Texas coast, idling 6 percent of U.S. Gulf
of Mexico oil output. Edouard's wind speeds remained below
hurricane strength when it struck the Texas coast, according
to the National Hurricane Center.
The U.S. Energy department may say gasoline supplies fell
1.5 million barrels last week in its weekly report today, a
Bloomberg survey predicted.
SHORT TERM TREND : BEARISH : TARGET RS 358
LONG TERM TREND : BULLISH : TARGET RS 530
S1 RS 367, S2 RS 363, S3 RS 358
R1 RS 373.50, R2 RS 377, R3 RS 381
PREFER SHORT AT RS 373.50 TO 374
STOP LOSS RS 377
TARGET RS 363
U.S. gasoline demand fell for a 15th consecutive week, as
motorists cope with high fuel prices by driving less,
according to a MasterCard Inc. report yesterday.
Demand last week dropped 3.4 percent from a year
earlier, MasterCard, the second-biggest credit-card
company, said in its weekly SpendingPulse report.
Nymex gasoline for September delivery fell as much as 1.89
cents, or 0.6 percent, to $2.9375 a gallon. Yesterday it lost
4.38 cents, or 1.5 percent, to $2.9564 a gallon, the lowest
close since May 1. Futures fell 13 percent last month, the
biggest drop since September 2006, as a slowing economy
cut demand for the fuel.
Tropical storm Edouard was downgraded to a depression after
it made landfall on the Texas coast, idling 6 percent of U.S. Gulf
of Mexico oil output. Edouard's wind speeds remained below
hurricane strength when it struck the Texas coast, according
to the National Hurricane Center.
The U.S. Energy department may say gasoline supplies fell
1.5 million barrels last week in its weekly report today, a
Bloomberg survey predicted.
Tuesday, August 5, 2008
UPDATES ON AUG 5 2008
AUG 5 TUESDAY
SHORT TERM TREND : BEARISH: TARGET RS 358
LONG TERM TREND : BULLISH: TARGET RS 530
S1 RS 367, S2 RS 362, S3 RS 359
R1 RS 373, R2 RS 375.70, R3 RS 378
PREFER SHORT AT RS 373 TO 373.30
STOP LOSS RS 376
TARGET RS 367
Gasoline futures fell to a three-month low on speculation
Tropical Storm Edouard won't do much to disrupt crude
oil operations or refining along the Texas and
Louisiana coasts.
Gasoline for September delivery in New York fell 2.11 cents,
or 0.7 percent, to $2.9790 a gallon at 12:02 p.m. Singapore time.
Yesterday, the contract 8.41 cents, or 2.7 percent, to settle at
$3.0002 a gallon on the New York Mercantile Exchange,
the lowest close since May 2.
U.S. refineries ran at 87.2 percent of capacity in the week ended
July 25, down 6.5 percentage points from a year earlier, as high
prices of crude oil and declining gasoline demand cut
refining margins.
U.S. gasoline supplies probably fell for a second week as declining
profit margins curbed refinery output, according to a Bloomberg
News survey of analysts.
Gasoline stockpiles probably fell 1.75 million barrels from 213.6
million barrels the week before, according to the median of
responses by eight analysts before an Energy Department
report this week. Seven analysts predicted a decrease, and
one said there was a gain.
SHORT TERM TREND : BEARISH: TARGET RS 358
LONG TERM TREND : BULLISH: TARGET RS 530
S1 RS 367, S2 RS 362, S3 RS 359
R1 RS 373, R2 RS 375.70, R3 RS 378
PREFER SHORT AT RS 373 TO 373.30
STOP LOSS RS 376
TARGET RS 367
Gasoline futures fell to a three-month low on speculation
Tropical Storm Edouard won't do much to disrupt crude
oil operations or refining along the Texas and
Louisiana coasts.
Gasoline for September delivery in New York fell 2.11 cents,
or 0.7 percent, to $2.9790 a gallon at 12:02 p.m. Singapore time.
Yesterday, the contract 8.41 cents, or 2.7 percent, to settle at
$3.0002 a gallon on the New York Mercantile Exchange,
the lowest close since May 2.
U.S. refineries ran at 87.2 percent of capacity in the week ended
July 25, down 6.5 percentage points from a year earlier, as high
prices of crude oil and declining gasoline demand cut
refining margins.
U.S. gasoline supplies probably fell for a second week as declining
profit margins curbed refinery output, according to a Bloomberg
News survey of analysts.
Gasoline stockpiles probably fell 1.75 million barrels from 213.6
million barrels the week before, according to the median of
responses by eight analysts before an Energy Department
report this week. Seven analysts predicted a decrease, and
one said there was a gain.
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