Updates from Northland Energy Trading

  • Energy Report 4/14/2021
    ULSD futures jumped 4.2% in an upside session (higher high, higher low) – breaking out of the sideway trade that we have seen for the past 17 sessions. Bulls took out both the 50-day ma ($1.8259) and the $1.8330 resistance levels, which now become our nearby support, while $1.9000 and $1.9695 are our resistance levels. Slow stochastics, the RSI, and candlesticks are... Read more

  • Market News 4/13/2021
    Petroleum futures were seeing flat-to-higher trade as of this writing in the overnight session on Tuesday, following the release of a monthly oil market report from OPEC containing a bullish demand forecast revision, while modest appreciation in the US dollar and news that Johnson & Johnson’s COVID-19 vaccine may also be linked to rare... Read more

  • Energy Report 4/12/2021
    ULSD futures continued sideways, doing nothing to push us off of the sidelines. Futures settled well off of the highs and in the bottom half of the daily range below both $1.8330 and 50-day ma ($1.8167) resistance. We'll continue to... Read more

  • Market News 4/12/2021
    Petroleum futures were trading in the black in the overnight session on Monday amid another Houthi attack on Saudi Aramco facilities and weakness in the US dollar, despite losses in US stock market index futures. Reuters reports that Houthi forces said that they had fired 17 drones and... Read more

  • Energy Report 4/9/2021
    ULSD futures have been sideways and under $1.8330 (23.6% Great Recession) for 13 sessions now. Over the past five, we see a bit of a wedge pattern developing with narrowing daily ranges, indicating a breakout in one direction or another may be... Read more

  • Market News 4/9/2021
    Petroleum futures were seeing flat-to-lower trade in the overnight session on Friday amid strength in the US dollar, despite mostly higher trade in European equities and in US stock market index futures. Reuters reports that the US Army Corps of Engineers will lay out its recommendations on the Dakota Access oil pipeline at a federal court hearing today. However, there are worries that... Read more

  • Energy Report 4/8/2021
    ULSD futures edged up 0.1% in a slight upside session (printing a hammer shaped candlestick) – consistent with our neutral bias which we... Read more

  • Market News 4/8/2021
    Petroleum futures were trading flat to lower as of this writing in the overnight session, with losses limited to under 0.7%. Global shares were seeing mixed trade, but the US dollar was depreciating slightly against a basket of currencies, which is... Read more

  • Energy Report 4/7/2021
    ULSD futures opened higher today but fell intraday, only to recover and post gains of 0.8% in a low-volume downside session – consistent with our neutral bias. Slow stochastics point lower and the MACD crossed the zero line and is... Read more

  • Market News 4/7/2021
    Petroleum futures were extending their gains in the overnight session on Wednesday amid bullish US crude oil inventory data from the American Petroleum Institute (API) and weakness in the US dollar index. Market participants awaited... Read more