Brent crude (QA): Brent crude still looks to be in the process of establishing a secondary (intermediate-term) uptrend on its continuous weekly chart. The key will be the spot-month contract's ability to hold support at its previous 4-week low of [...]

WTI crude oil (CL): The secondary (intermediate-term) trend could still be considered sideways as the February contract holds between the previous 4-week high of $82.72 and 4-week low of $70.08. The minor (short-term) trend remains up with a move beyond the [...]

WTI crude oil (CL): The secondary (intermediate-term) trend has turned sideways on the market's continuous weekly chart after holding within the previous week's range last week. Weekly stochastics remain below the oversold level of 20% with the most recent signal a [...]

Brent crude (QA): The market extended its previous secondary (intermediate-term) downtrend last week. Seasonally the market should be approaching a bullish turn while weekly stochastics below 10% indicate a sharply oversold station. Theoretical Positions: Recently established longs would've been stopped out [...]

Brent crude (QA): The secondary (intermediate-term) trend looks to have turned up last week as the spot-month contract completed a bullish spike reversal. Initial resistance is up at the previous 4-week high of $99.56. Theoretical Positions: Longs could be established [...]

Analysis The secondary (intermediate-term) trend looks to have turned down again The spot-month contract posted a new 4-week low the week of November 14, and again the week of November 21 Overnight through early Monday morning the spot-month contract has [...]

Analysis The spot-month contract posted a bullish spike reversal on its weekly chart last week Indicating the secondary (intermediate-term) trend has turned up Noncommercial traders decreased their net-long futures position by 13,798 contracts the week ending Tuesday, September 27 Including [...]

Theoretical Positions Hedgers: Cash needs were locked in near the recent weekly close of $3.5178 Based on a bullish 2-week reversal Stops could be placed below last week's low of $3.1304 Traders: Long futures positions could’ve been established near the [...]

Theoretical Positions Hedgers: Cash needs were locked in near the recent weekly close of $3.5178 Based on a bullish 2-week reversal Traders: Long futures positions could’ve been established near the previous Friday’s close of $3.5178. If so, sell stops would [...]

Theoretical Positions Hedgers There is no clear reversal pattern on the market's weekly chart That being said, those looking to cover cash needs could do so between last Friday's close of $93.06 and the previous Friday's close of $90.77 If [...]

Theoretical Positions Hedgers: Cash needs were locked in near the recent weekly close of $3.5178 Based on a bullish 2-week reversal Traders: Long futures positions could’ve been established near the previous Friday’s close of $3.5178. If so, sell stops would [...]

Theoretical Positions Hedgers: Cash needs were locked in near the previous Friday's close of $3.5178 Based on a bullish 2-week reversal Traders: Long futures positions could've been established near the previous Friday's close of $3.5178. If so, sell stops would [...]

Theoretical Positions Hedgers: Those needing to lock in supplies for fall 2022 and beyond can buy near last Friday's close of $3.5178. Traders: Could still be long-term short near $3.83 The monthly close from June When a bearish spike reversal [...]

Theoretical Positions Hedgers: Those needing to lock in supplies for fall 2022 and beyond can look for a secondary buying opportunity when the ongoing downtrend nears its end. Seasonally this could be in the late August timeframe If buying near [...]

Theoretical Positions Hedgers: Those needing to lock in supplies for fall 2022 and beyond can look for a secondary buying opportunity when the ongoing downtrend nears its end. Seasonally this could be in the late August timeframe Traders: Could still [...]

This is a snapshot and summary of theoretical positions and actions taken by the Darin Newsom Analysis, Inc in-house trading algorithm. We’ve been looking at incorporating these into Weekly Analysis for quite some time. You will notice some blanks. This [...]

This is a snapshot and summary of theoretical positions and actions taken by the Darin Newsom Analysis, Inc in-house trading algorithm. We’ve been looking at incorporating these into Weekly Analysis for quite some time. You will notice some blanks. This [...]

This is a snapshot and summary of theoretical positions and actions taken by the Darin Newsom Analysis, Inc in-house trading algorithm. We’ve been looking at incorporating these into Weekly Analysis for quite some time. You will notice some blanks. This [...]

This is a snapshot and summary of theoretical positions and actions taken by the Darin Newsom Analysis, Inc in-house trading algorithm. We’ve been looking at incorporating these into Weekly Analysis for quite some time. You will notice some blanks. This [...]

This is a snapshot and summary of theoretical positions and actions taken by the Darin Newsom Analysis, Inc in-house trading algorithm. We’ve been looking at incorporating these into Weekly Analysis for quite some time. You will notice some blanks. This [...]

This is a snapshot and summary of theoretical positions and actions taken by the Darin Newsom Analysis, Inc in-house trading algorithm. We’ve been looking at incorporating these into Weekly Analysis for quite some time. You will notice some blanks. This [...]

This is a snapshot and summary of theoretical positions and actions taken by the Darin Newsom Analysis, Inc in-house trading algorithm. We’ve been looking at incorporating these into Weekly Analysis for quite some time. You will notice some blanks. This [...]

This is a snapshot and summary of theoretical positions and actions taken by the Darin Newsom Analysis, Inc in-house trading algorithm. We’ve been looking at incorporating these into Weekly Analysis for quite some time. You will notice some blanks. This [...]

This is a snapshot and summary of theoretical positions and actions taken by the Darin Newsom Analysis, Inc in-house trading algorithm. We’ve been looking at incorporating these into Weekly Analysis for quite some time. You will notice some blanks. This [...]

This is a snapshot and summary of theoretical positions and actions taken by the Darin Newsom Analysis, Inc in-house trading algorithm. We’ve been looking at incorporating these into Weekly Analysis for quite some time. You will notice some blanks. This [...]

This is a snapshot and summary of theoretical positions and actions taken by the Darin Newsom Analysis, Inc in-house trading algorithm. We’ve been looking at incorporating these into Weekly Analysis for quite some time. You will notice some blanks. This [...]

This is a snapshot and summary of theoretical positions and actions taken by the Darin Newsom Analysis, Inc in-house trading algorithm. We’ve been looking at incorporating these into Weekly Analysis for quite some time. You will notice some blanks. This [...]

Crude oil saw a lot of late activity Wednesday afternoon, with a sharp sell-off from the session's high tied to the expiration of March options and headlines an Iran nuclear deal was days away from being finalized. Regarding the latter, [...]

This is a snapshot and summary of theoretical positions and actions taken by the Darin Newsom Analysis, Inc in-house trading algorithm. We've been looking at incorporating these into Weekly Analysis for quite some time. You will notice some blanks. This [...]

Secondary (Intermediate-term) Trend: Up Spot-month crude oil posted its highest price since September 2014 last week of $93.17 Fundamentals: Bullish The inverse (backwardation) of the forward curve (blue line) continues to steepen despite higher prices. Comparison is to the previous [...]

From a technical point of view the argument could still be made distillates (heating oil, jet fuel, diesel fuel, etc.) is still in a secondary (intermediate-term) downtrend. This despite the spot-month contract hitting a new major (long-term) high of $2.6459 [...]

Distillates remain a mix of trends: Major (long-term): Sideways, though building toward a double-top with the October 2021 high of $2.6080 Secondary (intermediate-term): Still looks to be in a 3-wave downtrend Minor (short-term): The 5-wave uptrend looks to be nearing [...]

Market Type: 3 (Less Bearish) Secondary Trend: Down The secondary trend turned down on distillates continuous weekly chart the week of October 18, when a bearish spike reversal was completed. The in-house algorithm shows is bearish intermediate-term, but not adding [...]

Crude Oil  Weekly Close: $59.32, down $2.13 Trends: Major (long-term) = Down, Secondary (intermediate-term) = Down, Minor (short-term) = Sideways Analysis: Crude oil charts continue to be influenced by the collapse into negative territory on April 20, 2020. The clearest [...]

Crude Oil  Weekly Close: $60.97, down $0.45 Trends: Major (long-term) = Up*, Secondary (intermediate-term) = Down, Minor (short-term) = Up Analysis: There is a lot to watch in crude oil this coming week as the minor trend looks to establishing [...]

Crude Oil  Weekly Close: $61.42, down $4.19 Trends: Major (long-term) = Up*, Secondary (intermediate-term) = Down, Minor (short-term) = Down Analysis: Despite continued bullish fundamentals indicated by the market's inverted forward curve, crude oil followed through on the previous week's [...]

WTI Crude Oil Weekly Close: $37.14, up $1.35. Secondary Trend: Down. Spot Spread: (-$0.35) = Neutral. Market Type: 2 = Bearish. Price Distribution: NA. Target: $30.90, then $26.92. Analysis: Despite the higher weekly close, the secondary trend remains down. The [...]

WTI Crude Oil Weekly Close: $35.79, down $4.06. Secondary Trend: Down. Spot Spread: (-$0.36) = Neutral. Market Type: 2 = Bearish. Price Distribution: NA. Target: $30.90, then $26.92. Analysis: The spot-month contract extended the market’s secondary downtrend to a low [...]

WTI Crude Oil Weekly Close: $37.05, down $3.20. Secondary Trend: Down. Spot Spread: (-$0.29) = Neutral. Market Type: 2 = Bearish. Price Distribution: NA. Target: $30.90 to $26.93. Analysis: The spot-month contract could test next support at its 4-week low [...]

WTI Crude Oil Weekly Close: $42.97, up $0.63. Secondary Trend: Sideways. Spot Spread: Downtrend = Bearish. Market Type: 4 = Neutral-Bearish. Price Distribution: NA. Target: $43.49. Analysis:The market continues to consolidate below its next upside target of $43.49. The downtrend [...]

WTI Crude Oil closed at $42.34, up $0.33 for the week. Trends: Secondary = Sideways. Targets: None. Analysis: The market looks to be nearing a secondary top with the spot-month contract sitting below its next upside target of $43.49. Weekly [...]

WTI Crude Oil closed at $42.01, up $0.79 for the week. Trends: Secondary = Sideways. Targets: None. Analysis: The market looks to be nearing a secondary top with the spot-month contract sitting below its next upside target of $43.49. Weekly [...]

WTI Crude Oil closed at $40.27, down $1.02 for the week. Trends: Secondary = Sideways, nearing a downturn. Targets: None. Analysis: The market looks to be nearing a secondary top with the spot-month contract sitting below its next upside target [...]

WTI Crude Oil closed at $40.59, up $0.04 for the week. Trends: Secondary = Sideways, nearing a downturn. Targets: None. Analysis: The market looks to be nearing a secondary top with the spot-month contract sitting below its next upside target [...]

WTI Crude Oil closed at $40.55, down $0.10 for the week. Trends: Secondary = Sideways, nearing a downturn. Targets: None. Analysis: The market looks to be nearing a secondary top with the spot-month contract sitting below its next upside target [...]

WTI Crude Oil closed at $38.49, down $1.26 for the week. Trends: Secondary = Down. Targets: None Analysis: Weekly stochastics established a bearish crossover above the overbought level of 80% last, with the high by the spot-month futures contract just [...]

WTI Crude Oil closed at $39.75, up $3.49 for the week. Trends: Secondary = Up but overbought. Targets: Secondary $43.48 to $51.37. Analysis: The spot-month contract established a bullish outside week, offsetting the previous bearish 2-week reversal pattern. This would [...]

WTI Crude Oil closed at $39.55, up $4.06 for the week. Trends: Minor = Up but sharply overbought with daily stochastics over 90%. Secondary = Up but overbought. Targets: Secondary $43.48 to $51.37. Conclusion: The spot-month contract could hit $41.05, [...]

WTI Crude Oil: The spot-month contract closed at $35.49, up $2.24 for the week. The spot-month contract is quickly approaching the gap down between $41.05 and $36.35 left the weeks of March 2 and March 9. Weekly stochastics remain bullish [...]

WTI Crude Oil: The spot-month contract closed at $33.25, up $3.82 for the week. The contract extended the market’s secondary uptrend to a high of $34.66 last week. Resistance on the continuous weekly chart remains at $36.35, the high from [...]

WTI Crude Oil: The spot-month contract closed at $24.74, up $4.96 for the week. As the market continues to recover from the anomaly of the May contract falling to a low of (-$40.32) as it expired the week of April [...]

WTI Crude Oil: The spot-month contract closed at $22.76, down $5.58 for the week. While the secondary trend still looks to be up following the previous week’s bullish key reversal, the market looks to see a minor sell-off after last [...]

WTI Crude Oil: The spot-month contract closed at $21.51, down $1.12 for the week. The spot-month WTI contract consolidate within the previous week’s range, though closed within striking distance of the low of $20.06 (a side note: I still recall [...]

WTI Crude Oil: The spot-month contract closed at $22.63, down $9.10 for the week. The spot-month WTI contract extended its secondary (intermediate term) and major (long term) downtrends last week to a low of $20.06 (though the April contract posted [...]

WTI Crude Oil: The spot-month contract closed at $31.73, down $9.55 for the week. The spot-month WTI contract left a bearish price gap between the previous week’s low of $41.05 and last week’s high of $36.35 before hitting a new [...]

WTI Crude Oil: The spot-month contract closed at $41.28, down $3.48 for the week. The spot-month WTI contract extended the major (long term) downtrend to a low of $41.05 last week. The major downside target remains $34.60 based on the [...]

WTI Crude Oil: The spot-month contract closed at $44.76, down $8.62 for the week. The spot-month WTI contract quickly erased signs of a secondary (intermediate term) uptrend as posted a bearish breakout of its major (long term) sideways trend. Last [...]

WTI Crude Oil: The spot-month contract closed at $53.38, up $1.06 for the week. The spot-month WTI contract extended the recently established secondary (intermediate term) uptrend to a high of $54.66 last week. The initial upside target is $55.46, a [...]

WTI Crude Oil: The spot-month contract closed at $52.05, up $1.73 for the week. The spot-month WTI contract looks to have posted a bullish 2-week reversal, indicating the market’s secondary (intermediate term) trend has turned up. This coincided with a [...]

WTI Crude Oil: The spot-month contract closed at $50.32, down $1.24 for the week. The spot-month WTI contract extended the market’s secondary (intermediate term) contra-seasonal downtrend to a low of $49.31 last week. This was the first time the market [...]

WTI Crude Oil: The spot-month contract closed at $51.16, down $2.63 for the week. The spot-month WTI contract extended the market’s secondary (intermediate term) downtrend to a low of $50.97 last week. Weekly stochastics remain bearish, partially above the oversold [...]

WTI Crude Oil: The spot-month contract closed at $54.19, down $4.39 for the week. The spot-month WTI contract extended the market’s secondary (intermediate term) downtrend to a low of $53.85 last week. Weekly stochastics remain bearish above the oversold level [...]

WTI Crude Oil: The spot-month contract closed at $58.54, down $0.50 for the week. The spot-month WTI contract posted a bearish key reversal the previous week leading to a new 4-week low of $57.36 last week. Daily stochastics posted a [...]

Brent Crude Oil: The spot-month contract closed at $68.60, up $0.44 for the week. Brent crude posted a bullish outside range last week while extending its secondary (intermediate term) uptrend to a new high of $69.48. Given the news out [...]

Crude Oil: The spot-month contract closed at $61.72, up $1.28 for the week. Crude oil continued to climb higher last week, posting a new 4-week high of $61.97. This was enough to pull weekly stochastics into an overbought situation above [...]

Crude Oil: The spot-month contract closed at $55.17, down $2.60 for the week. Crude oil remains in a secondary (intermediate term) sideways trend with the box bounded by (roughly) a low end at $50.60 and a high end of 60.94. [...]

Crude Oil: The spot-month contract closed at $57.24, up $1.04 for the week. Crude oil remains in a secondary (intermediate term) sideways trend with the box bounded by (roughly) a low end at $50.60 and a high end of 60.94. [...]

Crude Oil: The spot-month contract closed at $56.20, down $0.46 for the week. Despite last Friday’s strong rally ($2.02) the market still closed lower for the week. Last week’s high of $56.92 was a test of trendline resistance connecting the [...]

Crude Oil: The spot-month contract closed at $56.66, up $2.88 for the week. I’m going to continue to classify crude oil in a secondary (intermediate term) sideways trend with the box bounded by (roughly) a low end at $50.60 and [...]

Crude Oil: The spot-month contract closed at $53.78, down $092 for the week. I’m going to continue to classify crude oil in a secondary (intermediate term) sideways trend with the box bounded by (roughly) a low end at $50.60 and [...]

Crude Oil: The spot-month contract closed at $54.70, up $1.89 for the week. I’m going to continue to classify crude oil in a secondary (intermediate term) sideways trend with the box bounded by (roughly) a low end at $50.60 and [...]

Crude Oil: The spot-month contract closed at $52.49, down $3.42 for the week. Crude oil remains a tough read as far as trend goes on its weekly chart. Therefore, I’m looking at a simple downtrend connecting the high of $76.90 [...]

Crude Oil: The spot-month contract closed at $54.85, down $1.67 for the week. The crude oil market remains somewhat of a technical mystery as the spot-month contract followed the previous week’s bullish outside range with what looks to be a [...]

Crude Oil: The spot-month contract closed at $56.52, up $1.42 for the week. Crude oil looks to be breaking out if its recent consolidation phase following last week’s bullish outside week, complete with a new 4-week high. Despite the breakout, [...]

Crude Oil: The spot-month contract closed at $54.17, down $0.70 for the week. Crude oil continues to move sideways on its continuous weekly chart after fulfilling the technical requirements of a completed 3-wave downtrend two weeks ago. Support remains at [...]

Crude Oil: The spot-month contract closed at $54.87, up $0.37 for the week. Crude oil looks to be turning sideways on its continuous weekly chart after fulfilling the technical requirements of a completed 3-wave downtrend the previous week. Support is [...]

Crude Oil: The spot-month contract closed at $54.50, down $1.16 for the week. Crude oil is showing an interesting pattern on its continuous weekly chart. Last week’s low of $50.52 was below the previous low of $50.60 (week of June [...]

Crude Oil: The spot-month contract closed at $55.66, down $0.54 for the week. The market remains in a secondary (intermediate-term) 3-wave downtrend, posting a bearish outside range last week. While the spot-month contract was able to recover some of its [...]

Crude Oil: The spot-month contract closed at $56.20, up $0.57 for the week. The market remains in a secondary (intermediate-term) 3-wave downtrend with initial support near $54.50. This price marks the 50% retracement level of the previous secondary uptrend from [...]

Crude Oil: The spot-month contract closed at $55.63, down $4.58 for the week. The market remains in a secondary (intermediate-term) 3-wave downtrend with initial support near $54.50. This price marks the 50% retracement level of the previous secondary uptrend from [...]

Crude Oil: The spot-month contract closed at $60.21, up $2.70 for the week. The rally in the market looks to be Wave 2 of a secondary (intermediate-term) 3-wave downtrend. The minor (short-term) trend looks set to turn down following the [...]

Crude Oil: The spot-month contract closed at $57.51, down $0.96 for the week. Crude oil’s daily chart is showing a strengthening minor (short-term) 3-wave downtrend. The market looks to be in position to move into Wave C (third wave) of [...]

Crude Oil: The spot-month contract closed at $58.47, up $1.04 for the week. Crude oil extended its recent rally to a new high of $59.93 last week. This could still be considered Wave 1 of a secondary (intermediate-term) 5-wave uptrend, [...]

Crude Oil: The spot-month contract closed at $57.43, up $4.92 for the week. Crude oil posted a quick rally last week, though did not actually establish bullish turn signals. This leaves the door open for a potential sell-off over the [...]

Crude Oil: The spot-month contract closed at $52.51, down $1.48 for the week. Crude oil remains in a secondary (intermediate-term) 3-wave downtrend, though holding support near $51.63. This price marks the 61.8% retracement level of the previous secondary uptrend from [...]

Crude Oil: The spot-month contract closed at $53.99, up $0.49 for the week. Crude oil extended Wave C (third wave) of its secondary (intermediate-term) 3-wave downtrend to a new low of $50.60 last week, a test of the next downside [...]

Crude Oil: The spot-month contract closed at $53.50, down $5.13 for the week. Crude oil extended Wave C (third wave) of its secondary (intermediate-term) 3-wave downtrend to a low of $53.05 last week (see chart). Next support is at $51.63, [...]

Crude Oil: The spot-month contract closed at $58.63, down $4.13 for the week. Crude oil remains in a secondary (intermediate-term) 3-wave downtrend, with last week’s low of $57.33 a test of support at $57.36 (see chart). This price marks the [...]

Crude Oil: The spot-month contract closed at $62.76, up $1.10 for the week. Crude oil remains in a secondary (intermediate-term) 3-wave downtrend, with the recent minor (short-term) rally looking to be Wave B. Last week’s high of $63.64 was a [...]

Crude Oil: The spot-month contract closed at $61.94, down $1.36 for the week. Crude oil remains in a secondary (intermediate-term) downtrend, with last week’s low of $60.95 a test of support near $60.90. This price marks the 23.6% retracement level [...]

Crude Oil: The spot-month contract closed at $63.30, down $0.70 for the week. The market posted a bearish engulfing pattern on its weekly candlestick chart indicating its secondary (intermediate-term) trend has turned down (see chart). This comes after a confirming [...]

Crude Oil: The spot-month contract closed at $64.00, up $0.11 for the week. The market’s secondary (intermediate-term) uptrend has been nearly straight up since the low of $42.26 the week of December 24, 2018. This past week saw the spot-month [...]

Crude Oil: The spot-month contract closed at $63.89, up $0.81 for the week. While the market still looks to be in a secondary (intermediate-term) uptrend, last week’s close back below resistance was enough to establish another bearish crossover by weekly [...]

Crude Oil: The spot-month contract closed at $63.08, up $2.94 for the week. The spot-month contract extended the market’s secondary (intermediate-term) uptrend last week to a new high of $63.34. This has the market testing resistance near $63.68, a price [...]

Crude Oil: The spot-month contract closed at $60.14, up $1.10 for the week. The spot-month contract extended the market’s secondary (intermediate-term) uptrend last week to a new high of $60.73. Unlike the previous week, this past week’s close was above [...]

Crude Oil: The spot-month contract closed at $59.04, up $0.52 for the week. The spot-month contract extended the market’s secondary (intermediate-term) uptrend last week to a new high of $60.39. However, the weekly close was back below resistance near $59.60, [...]

Crude Oil: The spot-month contract closed at $58.52, up $2.45 for the week. Despite weekly stochastics being above 90%, indicating a sharply overbought situation, the spot-month contract continues to extend the market’s secondary (intermediate-term) uptrend toward next resistance near $59.60 [...]

Crude Oil: The spot-month contract closed at $56.07, up $0.27 for the week. Crude oil was interesting again last week, initially following up the bearish reversal from the previous week with selling before closing higher. Last week’s low of $54.52 [...]

Crude Oil: The spot-month contract closed at $55.80, down $1.45 for the week. While crude oil remains in a secondary (intermediate-term) 5-wave uptrend, last week saw the spot-month contract post a bearish reversal on its weekly chart. This would indicate [...]

Crude Oil: The spot-month contract closed at $57.26, up $1.67 for the week. Crude oil extended its secondary (intermediate-term) 5-wave uptrend last week, posting a new high of $57.81. Next resistance is near $59.60, a price that marks the 50% [...]

Crude Oil: The spot-month contract closed at $55.59, up $2.87 for the week. Crude oil remains in a secondary (intermediate-term) 5-wave uptrend with the spot-month contract posting a bullish outside range before closing slightly above resistance near $55.55. This price [...]

Crude Oil: The March contract closed at $52.72, down $2.54 for the week. Despite the lower weekly close crude oil remains in a secondary (intermediate-term) 5-wave uptrend. However, the last two weeks have seen the spot-month contract test resistance near [...]

Crude Oil: The March contract closed at $55.26, up $1.57 for the week. Crude oil remains in a secondary (intermediate-term) uptrend with the spot-month contract posting a bullish outside trading range last week. This included a high of $55.66, testing [...]

Crude Oil: The March contract closed at $53.69, down $0.11 for the week. Crude oil continues to slowly extend Wave 1 of its secondary (intermediate-term) uptrend, posting a high last week of $54.51. Next resistance is at $55.56, a price [...]