I’m reminded of comedian Dana Gould’s line: “Russia isn’t a country. It’s a gas station with an army.”
Natural Gas Update
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Reservations Required
Iran’s Top Customer
I had no idea……….wow! Basically China, and then a handful of rogue states.
Crude Oil Forecast Update
Apologies, in my previous post (today), I forgot to add a chart for Crude Oil LONG.
Since this scenario is panning out as I write (CL Futures Nymex expiry Aug2025 touched below 68 an hour ago), I think it may be helpful to briefly discuss where this pullback can go.
Here below is the LONG WEEKLY model for CL futures, front month (Aug25).
On the left side, the price model: you can see Crude Oil has already reached the WEEKLY OVERSOLD area! (totally contradicting what I said today, i.e. probably a small pullback).
Probability of reversal in the price support zone below 68 is around 72%, quite high.
(more…)EXACTLY the Opposite!
If you had asked any trader yesterday what today would be like, I suspect they would spell out precisely the opposite of what we are seeing right now. Right on the heels of an unprecedented attack against Iran, as well as threats of sealing off the Strait of Hormuz, we have crude oil going into an absolutely free-fall:
