SEPT 30 TUESDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 341 , S2 RS 337
R1 RS 348 , R2 RS 352
STAY SHORT AT HIGHS.
Gasoline for October delivery rose as much as 1.63 cents, or
0.7 percent, to $2.4133 a gallon in New York after the
biggest drop yesterday since the ethanol-based contract
began trading in October 2005.
Heating oil was at $2.7550 a gallon, down 0.54 cent, after
dropping 7.8 percent to $2.7604 a gallon yesterday.
U.S. fuel demand averaged 19.5 million barrels a day in
the four weeks ended Sept. 19, the lowest since October
2003, according to Energy Department data.
The dollar strengthened to $1.4383 per euro at 3:04 p.m.
Singapore time. It gained 1.2 percent yesterday to
$1.4434 per euro and the pound lost 1.8 percent to
$1.8115.
Tuesday, September 30, 2008
Friday, September 26, 2008
UPDATES ON SEPT 26 2008
SEPT 26 FRIDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 365 , S2 RS 361
R1 RS 371 , R2 RS 374
WAIT FOR CONFIRMATION.
Gasoline demand averaged 9 million barrels a day during the
past four weeks, down 3.4 percent from the same period
last year, the Energy Department report showed. Gasoline
inventories dropped 5.9 million barrels to 178.7 million
barrels, the lowest since 1967. Supply levels prior to
1990 were reported on a monthly basis.
OPEC continues to export large volumes of oil as it may take
time for the group to cut back output to its quota.
OPEC's daily shipments of oil will increase 2.2 percent in
the four weeks to Oct. 11, according to data from industry
consultant Oil Movements released yesterday.
The Organization of Petroleum Exporting Countries will load
24.75 million barrels a day in the period, compared with
24.21 million barrels a day shipped in the four weeks
ended Sept. 13, the Halifax, England-based consultant said.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 365 , S2 RS 361
R1 RS 371 , R2 RS 374
WAIT FOR CONFIRMATION.
Gasoline demand averaged 9 million barrels a day during the
past four weeks, down 3.4 percent from the same period
last year, the Energy Department report showed. Gasoline
inventories dropped 5.9 million barrels to 178.7 million
barrels, the lowest since 1967. Supply levels prior to
1990 were reported on a monthly basis.
OPEC continues to export large volumes of oil as it may take
time for the group to cut back output to its quota.
OPEC's daily shipments of oil will increase 2.2 percent in
the four weeks to Oct. 11, according to data from industry
consultant Oil Movements released yesterday.
The Organization of Petroleum Exporting Countries will load
24.75 million barrels a day in the period, compared with
24.21 million barrels a day shipped in the four weeks
ended Sept. 13, the Halifax, England-based consultant said.
Thursday, September 25, 2008
UPDATES ON SEPT 25 2008
SEPT 25 THURSDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 360.30 , S2 RS 357
R1 RS 366 , R2 RS 370
WAIT FOR CONFIRMATION.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 360.30 , S2 RS 357
R1 RS 366 , R2 RS 370
WAIT FOR CONFIRMATION.
Wednesday, September 24, 2008
UPDATES ON SEPT 24 2008
SEPT 24 WEDNESDAY
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 371 , S2 RS 368
R1 RS 378 , R2 RS 382
STAY LONG AT SUPPORT.
U.S. demand for gasoline continues to decline.
Motor fuel purchases dropped 7.6 percent from a year ago to
their lowest since January 2007, MasterCard Inc. said yesterday
in its weekly SpendingPulse report.
Motorist bought an average 8.276 million barrels of gasoline a day
in the week ended Sept. 19, down from 9.443 million barrels a
year earlier, the report said. It was the 22nd week of year-on-
year declines.
U.S. crude-oil and fuel inventories probably declined last week
because production platforms, refineries and ports along the
Gulf of Mexico were shut in the aftermath of hurricanes Gustav
and Ike, a Bloomberg News survey of analysts showed.
Gasoline stockpiles probably declined 3.6 million barrels from
184.6 million barrels the week before, the survey showed.
U.S. energy producers have resumed output for about 33 percent
of oil and 38 percent of natural-gas production in the Gulf of
Mexico after storms in the region.
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 371 , S2 RS 368
R1 RS 378 , R2 RS 382
STAY LONG AT SUPPORT.
U.S. demand for gasoline continues to decline.
Motor fuel purchases dropped 7.6 percent from a year ago to
their lowest since January 2007, MasterCard Inc. said yesterday
in its weekly SpendingPulse report.
Motorist bought an average 8.276 million barrels of gasoline a day
in the week ended Sept. 19, down from 9.443 million barrels a
year earlier, the report said. It was the 22nd week of year-on-
year declines.
U.S. crude-oil and fuel inventories probably declined last week
because production platforms, refineries and ports along the
Gulf of Mexico were shut in the aftermath of hurricanes Gustav
and Ike, a Bloomberg News survey of analysts showed.
Gasoline stockpiles probably declined 3.6 million barrels from
184.6 million barrels the week before, the survey showed.
U.S. energy producers have resumed output for about 33 percent
of oil and 38 percent of natural-gas production in the Gulf of
Mexico after storms in the region.
Tuesday, September 23, 2008
UPDATS ON SEPT 23 2008
SEPT 23 TUESDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 354, S2 RS 348
R1 RS 361 , R2 RS 368
WAIT FOR CONFIRMATION.
Gasoline for October delivery fell 0.58 cent to $2.6980 a
gallon in New York. Yesterday, it jumped 10.41 cents, or
4 percent, to settle at $2.7038 a gallon in New York.
U.S. crude-oil and fuel inventories probably declined last week
because production platforms, refineries and ports along the
Gulf of Mexico were shut in the aftermath of hurricanes
Gustav and Ike, a Bloomberg News survey of analysts
showed.
Gasoline stockpiles probably declined 3.6 million barrels from
184.6 million barrels the week before, the survey showed.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 354, S2 RS 348
R1 RS 361 , R2 RS 368
WAIT FOR CONFIRMATION.
Gasoline for October delivery fell 0.58 cent to $2.6980 a
gallon in New York. Yesterday, it jumped 10.41 cents, or
4 percent, to settle at $2.7038 a gallon in New York.
U.S. crude-oil and fuel inventories probably declined last week
because production platforms, refineries and ports along the
Gulf of Mexico were shut in the aftermath of hurricanes
Gustav and Ike, a Bloomberg News survey of analysts
showed.
Gasoline stockpiles probably declined 3.6 million barrels from
184.6 million barrels the week before, the survey showed.
Monday, September 22, 2008
UPDATES ON SEPT 22 2008
SEPT 22 MONDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 354 , S2 RS 348
R1 RS 361 , R2 RS 368
WAIT FOR CONFIRMATION.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 354 , S2 RS 348
R1 RS 361 , R2 RS 368
WAIT FOR CONFIRMATION.
Sunday, September 21, 2008
UPDATES ON SEPT 20 2008
SEPT 20 SATURDAY
Natural Gas Declines as Supplies May Be Ample Before Winter .
Natural gas futures fell for a second day in New York amid
speculation that U.S. production will be strong enough between
now and Nov. 1 to ensure ample supplies to meet cold-weather
demand.
Inventories advanced 67 billion cubic feet in the week ended
Sept. 12 to 2.972 trillion cubic feet, putting supplies 2.1 percent
above the five-year average, according to the U.S. Energy
Deoartment.
Natural gas for October delivery fell 9 cents, or 1.2 percent, to settle
at $7.531 per million British thermal units at 3:12 p.m. on the New
York Mercantile Exchange. Prices rose 2.2 percent this week.
Gas supplies last week were 2.1 percent above the five-year
average, the department said yesterday. The surplus narrowed
from 2.9 percent in last week's report. The five-year average
for gas in storage at the start of the cold-weather-demand
period on Nov. 1 is 3.327 trillion cubic feet.
Speculators and consumers of the heating and industrial fuel
are banking on increased onshore production to bolster
output and keep prices from running higher.
Domestic gas output is expected to increase by 7.8 percent this
year, particularly from fields in Texas and Wyoming, the Energy
Department said in its monthly Short-Term Energy Outlook
on Sept. 9.
Crude oil has dropped 13 percent this month and gasoline
has fallen 16 percent.
Natural Gas Declines as Supplies May Be Ample Before Winter .
Natural gas futures fell for a second day in New York amid
speculation that U.S. production will be strong enough between
now and Nov. 1 to ensure ample supplies to meet cold-weather
demand.
Inventories advanced 67 billion cubic feet in the week ended
Sept. 12 to 2.972 trillion cubic feet, putting supplies 2.1 percent
above the five-year average, according to the U.S. Energy
Deoartment.
Natural gas for October delivery fell 9 cents, or 1.2 percent, to settle
at $7.531 per million British thermal units at 3:12 p.m. on the New
York Mercantile Exchange. Prices rose 2.2 percent this week.
Gas supplies last week were 2.1 percent above the five-year
average, the department said yesterday. The surplus narrowed
from 2.9 percent in last week's report. The five-year average
for gas in storage at the start of the cold-weather-demand
period on Nov. 1 is 3.327 trillion cubic feet.
Speculators and consumers of the heating and industrial fuel
are banking on increased onshore production to bolster
output and keep prices from running higher.
Domestic gas output is expected to increase by 7.8 percent this
year, particularly from fields in Texas and Wyoming, the Energy
Department said in its monthly Short-Term Energy Outlook
on Sept. 9.
Crude oil has dropped 13 percent this month and gasoline
has fallen 16 percent.
Friday, September 19, 2008
UPDATES ON SEPT 19 2008
SEPT 19 FRIDAY
SHORT TERM TREND : BULLISH
LONG TERM TREND : BULLISH
S1 RS 363 , S2 RS 356
R1 RS 372 , R2 RS 378
WAIT FOR CONFIRMATION.
US Natural gas inventory data released on 18 th Sept 2008
Actual : + 67 bcf
Expected : + 61 bcf
Previous : + 58 bcf.
SHORT TERM TREND : BULLISH
LONG TERM TREND : BULLISH
S1 RS 363 , S2 RS 356
R1 RS 372 , R2 RS 378
WAIT FOR CONFIRMATION.
US Natural gas inventory data released on 18 th Sept 2008
Actual : + 67 bcf
Expected : + 61 bcf
Previous : + 58 bcf.
Thursday, September 18, 2008
PDATES ON SEPT 18 2008
SEPT 18 THURSDAY
SHORT TERM TREND : BULLISH
LONG TERM REND : BULLISH
S1 RS 373.60 , S2 RS 368
R1 RS 381 , R2 RS 386
STAY LONG .
Natural Gas Futures Gain as AIG Rescue Spurs Commodity Buying .
Natural gas futures rose 8.7 percent, the biggest increase
in more than a year, as commodities gained after the
Federal Reserve's rescue of American International
Group Inc.
Investors turned to commodities as an alternative investment as
equities declined. Gas also gained as production disruptions from
hurricanes Gustav and Ike may leave supplies of the heating fuel
lower than forecast before colder weather spurs demand.
Natural gas for October delivery gained 63.1 cents, or 8.7 percent, to
settle at $7.91 per million at 3:13 p.m. on the New York Mercantile
Exchange, the biggest one-day gain since advancing 12 percent on
Jan. 30, 2007.
U.S. gas inventories rose 63 billion cubic feet in the week ended
Sept. 12, according to the median of 16 analyst estimates compiled
by Bloomberg. Supplies in the same week over the past five years
advanced an average 88 billion cubic feet, according to the Energy
Department.
Gulf production has been mostly shut this month because of the recent
storms, boosting expectations that winter inventories will be pinched.
Supplies normally gain before November, when demand for the
heating fuel begins its rise to a winter peak.
Oil gained $6.01, or 6.6 percent, to settle at $97.16 a barrel in New York.
Technical analysis of the natural gas price chart also suggests a
more constructive'' outlook for the heating and industrial fuel.
SHORT TERM TREND : BULLISH
LONG TERM REND : BULLISH
S1 RS 373.60 , S2 RS 368
R1 RS 381 , R2 RS 386
STAY LONG .
Natural Gas Futures Gain as AIG Rescue Spurs Commodity Buying .
Natural gas futures rose 8.7 percent, the biggest increase
in more than a year, as commodities gained after the
Federal Reserve's rescue of American International
Group Inc.
Investors turned to commodities as an alternative investment as
equities declined. Gas also gained as production disruptions from
hurricanes Gustav and Ike may leave supplies of the heating fuel
lower than forecast before colder weather spurs demand.
Natural gas for October delivery gained 63.1 cents, or 8.7 percent, to
settle at $7.91 per million at 3:13 p.m. on the New York Mercantile
Exchange, the biggest one-day gain since advancing 12 percent on
Jan. 30, 2007.
U.S. gas inventories rose 63 billion cubic feet in the week ended
Sept. 12, according to the median of 16 analyst estimates compiled
by Bloomberg. Supplies in the same week over the past five years
advanced an average 88 billion cubic feet, according to the Energy
Department.
Gulf production has been mostly shut this month because of the recent
storms, boosting expectations that winter inventories will be pinched.
Supplies normally gain before November, when demand for the
heating fuel begins its rise to a winter peak.
Oil gained $6.01, or 6.6 percent, to settle at $97.16 a barrel in New York.
Technical analysis of the natural gas price chart also suggests a
more constructive'' outlook for the heating and industrial fuel.
Wednesday, September 17, 2008
TECHNICALS
TECHNICAL LEVELS FOR SEPTEMBER 17
NATURAL GAS MCX SEPTEMBER
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
SUPPORTS : S 1 - RS.350.60 , S 2 - RS.347
RESISTANCES : R1 - RS.356, R2 - RS.360
WAIT FOR CONFIRMATION
NATURAL GAS MCX SEPTEMBER
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
SUPPORTS : S 1 - RS.350.60 , S 2 - RS.347
RESISTANCES : R1 - RS.356, R2 - RS.360
WAIT FOR CONFIRMATION
Tuesday, September 16, 2008
UPDATES ON SEPT 16 2008
SEPT 16 TUESDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 346 , S2 RS 343
R1 RS 352 , R2 RS 356
WAIT FOR CONFIRMATION.
Gasoline for October delivery fell for a second day, declining as much
as 8.52 cents, or 3.3 percent, to $2.4762 a gallon in New York.
Oil fell as much as 4.3 percent today after Lehman Brothers
Holdings Inc., once the fourth-largest U.S. investment bank,
yesterday sought bankruptcy protection, sending U.S. stocks
to their steepest drop since the September 2001 terrorist
attacks. Gold fell for the first day in three.
total of 14 Texas and Louisiana refineries, with combined crude
-oil processing capacity of 3.57 million barrels a day, are shut
because of Ike, the U.S. Energy Department said yesterday.
The International Energy Agency, an energy adviser to 27
industrialized countries, said it is analyzing the impact of Ike
on oil, gas and refinery output and may release emergency
stockpiles if called upon. The IEA coordinated the release of
crude oil and fuel supplies after Hurricanes Katrina and Rita
struck the U.S. Gulf Coast in 2005.
U.S. crude-oil and fuel inventories probably fell last week because
of Ike, a Bloomberg News survey of analysts showed. The Energy
Department is scheduled to release its weekly petroleum supply
report on Sept. 17.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 346 , S2 RS 343
R1 RS 352 , R2 RS 356
WAIT FOR CONFIRMATION.
Gasoline for October delivery fell for a second day, declining as much
as 8.52 cents, or 3.3 percent, to $2.4762 a gallon in New York.
Oil fell as much as 4.3 percent today after Lehman Brothers
Holdings Inc., once the fourth-largest U.S. investment bank,
yesterday sought bankruptcy protection, sending U.S. stocks
to their steepest drop since the September 2001 terrorist
attacks. Gold fell for the first day in three.
total of 14 Texas and Louisiana refineries, with combined crude
-oil processing capacity of 3.57 million barrels a day, are shut
because of Ike, the U.S. Energy Department said yesterday.
The International Energy Agency, an energy adviser to 27
industrialized countries, said it is analyzing the impact of Ike
on oil, gas and refinery output and may release emergency
stockpiles if called upon. The IEA coordinated the release of
crude oil and fuel supplies after Hurricanes Katrina and Rita
struck the U.S. Gulf Coast in 2005.
U.S. crude-oil and fuel inventories probably fell last week because
of Ike, a Bloomberg News survey of analysts showed. The Energy
Department is scheduled to release its weekly petroleum supply
report on Sept. 17.
Monday, September 15, 2008
TECHNICALS
TECHNICAL LEVELS FOR 15 SEPTEMBER
NATURAL GAS MCX SEPTEMBER
SHORT TERM TREND ; BULLISH
LONG TERM TREND : BEARISH
SUPPORTS : S1- RS.338, S2- RS.335
RESISTANCES : R1 - RS. 345, R2 - RS.349
STAY LONG
NATURAL GAS MCX SEPTEMBER
SHORT TERM TREND ; BULLISH
LONG TERM TREND : BEARISH
SUPPORTS : S1- RS.338, S2- RS.335
RESISTANCES : R1 - RS. 345, R2 - RS.349
STAY LONG
Friday, September 12, 2008
UPDATES ON SEPT 12 2008
SEPT 12 FRIDAY
NATURAL GAS SEPTEMBER
Gasoline for October delivery gained as much as 3.9 cents, or
1.4 percent, to $2.7880 a gallon in New York after rising 3.3
percent yesterday, the biggest one-day gain since Aug. 27.
Heating oil climbed as much as 4.95 cents, or 1.7 percent, to
$2.9650 a gallon, having risen 0.5 percent yesterday.
The refinery closures after Hurricane Gustav led to a decline
in U.S. gasoline stocks of 6.5 million barrels, or 3.3 percent, last
week, the Energy Department said Sept. 10. This puts supplies
9.3 million barrels below their 5 year average, according to a
report by Barclays Capital analysts.
The lower stockpiles have led to an increase in the gasoline crack
margin, or the price difference between the motor fuel and crude oil.
The crack has more than tripled since Sept. 1, when Gustav
made landfall, to $15.50 a barrel today.
NATURAL GAS SEPTEMBER
SHORT TERM TREND - SIDEWAYS
LONG TERM TREND - BEARISH
SUPPORTS- S1- RS.328, S2 - RS.323
RESISTANCES - R1- RS.337, R2- RS.341
WAIT FOR CONFIRMATION
Gasoline for October delivery gained as much as 3.9 cents, or
1.4 percent, to $2.7880 a gallon in New York after rising 3.3
percent yesterday, the biggest one-day gain since Aug. 27.
Heating oil climbed as much as 4.95 cents, or 1.7 percent, to
$2.9650 a gallon, having risen 0.5 percent yesterday.
The refinery closures after Hurricane Gustav led to a decline
in U.S. gasoline stocks of 6.5 million barrels, or 3.3 percent, last
week, the Energy Department said Sept. 10. This puts supplies
9.3 million barrels below their 5 year average, according to a
report by Barclays Capital analysts.
The lower stockpiles have led to an increase in the gasoline crack
margin, or the price difference between the motor fuel and crude oil.
The crack has more than tripled since Sept. 1, when Gustav
made landfall, to $15.50 a barrel today.
Wednesday, September 10, 2008
UPDATES ON SEPT 10 2008
SEPT 10 WEDNESDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 335 , S2 RS 320
R1 RS 342 , R2 RS 348
WAIT FOR CONFIRMATION.
Gasoline for October delivery fell 8.63 cents to
$ 2.664 a gallon in New York.
Heating oil dropped 6.69 cents to $ 2.9462 a gallon.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 335 , S2 RS 320
R1 RS 342 , R2 RS 348
WAIT FOR CONFIRMATION.
Gasoline for October delivery fell 8.63 cents to
$ 2.664 a gallon in New York.
Heating oil dropped 6.69 cents to $ 2.9462 a gallon.
Thursday, September 4, 2008
UPDATES ON SEPT 4 2008
SEPT 4 THURSDAY
SHORT TERM TREND : BEARISH
LONG TERM TRRND : BEARISH
S1 RS 318.60 , S2 RS 314
R1 RS 323.40 , R2 RS 327
Sept Natural gas is expected to trade in the range of
Rs 316 to Rs 324.
Sell at highs.
SHORT TERM TREND : BEARISH
LONG TERM TRRND : BEARISH
S1 RS 318.60 , S2 RS 314
R1 RS 323.40 , R2 RS 327
Sept Natural gas is expected to trade in the range of
Rs 316 to Rs 324.
Sell at highs.
Tuesday, September 2, 2008
UPDATES ON SEPT 2 2008
SEPT 2 TUESDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 333 , S2 RS 326
R1 RS 340 , R2 RS 348
PREFER SHORTS AT RS 338 TO 338.50
STOP LOSS RS 341
TARGET RS 333.
Natural gas for October delivery was at $7.55 per million
British thermal units, down 5 percent, while October
gasoline was at $2.7584 a gallon, down 3.4 percent.
Gustav's winds slowed to about 75 miles per hour
(120 kilometers per hour) at 7 p.m. local time, nine hours
after the storm came ashore, the National Hurricane
Center said.
As much as 20 percent of oil and gas production that was shut
because of Hurricane Gustav may be restored by this weekend,
Louisiana's Governor Bobby Jindal said yesterday at a
press conference in Baton Rouge, Louisiana.
The governor earlier called for the federal government to release
oil from the country's strategic petroleum reserves.
Workers from more than 70 percent of the platforms and
rigs in the Gulf were evacuated as Gustav approached,
according to the U.S. Minerals Management Service.
About 1.3 million barrels a day of oil and 7.06 billion
cubic feet of gas was shut, all of the area's offshore oil
output and 95 percent of gas production.
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 333 , S2 RS 326
R1 RS 340 , R2 RS 348
PREFER SHORTS AT RS 338 TO 338.50
STOP LOSS RS 341
TARGET RS 333.
Natural gas for October delivery was at $7.55 per million
British thermal units, down 5 percent, while October
gasoline was at $2.7584 a gallon, down 3.4 percent.
Gustav's winds slowed to about 75 miles per hour
(120 kilometers per hour) at 7 p.m. local time, nine hours
after the storm came ashore, the National Hurricane
Center said.
As much as 20 percent of oil and gas production that was shut
because of Hurricane Gustav may be restored by this weekend,
Louisiana's Governor Bobby Jindal said yesterday at a
press conference in Baton Rouge, Louisiana.
The governor earlier called for the federal government to release
oil from the country's strategic petroleum reserves.
Workers from more than 70 percent of the platforms and
rigs in the Gulf were evacuated as Gustav approached,
according to the U.S. Minerals Management Service.
About 1.3 million barrels a day of oil and 7.06 billion
cubic feet of gas was shut, all of the area's offshore oil
output and 95 percent of gas production.
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