Crude oil prices rise as geo-political risks and weather risks come back into play. This comes as the man who wrote the history of oil, Daniel Yergin, says that oil is near a historical bottom and the Obama Administration continues to play cruel games with TransCanada Corp. and the approval of the Keystone Pipeline.
A 15-year high for tech stocks on the Nasdaq helped world shares to a 2-1/2 month peak on Tuesday, though more engine trouble for Volkswagen and a $5.1 billion cash call by Standard Chartered left Europe feeling flat.
In what may be a wise move, TransCanada Corp called a time out with the State Department to pause its review of the Keystone Pipeline. The reason TransCanada says, is because they are reviewing with the State of Nebraska where the pipeline will be played out but in reality, they are calling the time out to freeze out the U.S. State Department under President Obama who may actually reject the request.
Crude oil has turned up in September when price broke out of a triangle placed in wave (b) so wave (c) was final with wave 4 pullback that reached 50.50 resistance from where sell-off occurred in October.
Who dares enter the long side of the energy complex? Boooo.
It's close to midnight and something’s selling oil in the dark.
Under the moonlight, you see a drop that almost stops your stop.
You try to scream, but the market takes the trade before you make it.
You start to freeze, as losses looks you right between the eyes,