EscapeFromUtopia

Someone over at ENTSOG seems to have broken their data and added 13 near zero days over the last few months. They weren't there on Friday. Regardless, October imports did manage to beat September's, but the YoY gap is huge.

Lots of people getting interesting in #TTF now that has crossed 100. Watch the ratio. LNG is a globally fungible market, and there's not enough to go around. Europe will pay until it outprices Asia, but so far, that hasn't happened. Price is pulling evenly in both hemispheres.

A new $XOM ATH on a slight earnings beat. EPS is more than double this quarter last year.

RIP #silver. 5th worst daily RSI in the last 50+ years. Monthly is now below neutral, weekly is close to oversold. More shockingly, it cut right through green, and came to a stop at black, which is the channel it's been in for the last 8 years. Is it about to break down?

$MEOH gapped up HARD (10%) on positive earnings. They're just an energy arb, selling cheap american gas abroad as other expensive methanol shources shut down.

#Silver's annihiliation continues. Green is the all time breakout line. If there was support, it would be here. Daily oversold, Weekly almost there (37), monthly is 55. Barring COVID silver has visited these levels 10 times in the last decade.

I did adjust my ascending channel for #oil slightly, but only to try my spike high/low guardrails. We are solidly back inside of it regardless, and breaking away from the magnentic resistance line. Not yet overbought on the daily, and closer to neutral on longer time frames.

While not as ugly as #silver, all of Google is back to March lows. Its entire history is defined by this trendline.

Only 4 days of data left for the EU to surge and import more gas in October than September. Usually the gap is the other way, as you can see.

Hourly. Another morning of silver testing the descending resitance AGAIN. How many times will these lows get swept? When will something break? RSI is 32/37/55. Short term almost oversold, long term neutral. Feels like a bottom, but for that we would have to stop falling...

$WCP.TO with a big beat. Petroleum and natural gas revenue of $2.41B (+45.2% Y/Y) beats by $690M. GAAP EPS of $0.27

#Silver's hourly chart for the month is ungood, but interesting the last week or so. That blue line is the descending resistance we broke back in August. Red is the bottom of the falling wedge. As long as it doesn't break down, there remains hope yet that it will break out.

Oil is on a tear today. Doesn't it know its supposed to wait 7 more days?

Day 4 of #oil thinking about breaking out. It's only a week to the mid terms. You think they can keep the lid on the preasure cooker that long?

#Euro down hard again today, but probably not for the last time. It tends to bounce off the lows a couple times before giving way.

#Copper has not yet repaired its drop, but it has not yet been rejected either. Worth watching.

$MEOH is barely above where I bought it at the start of the war (yellow), and just back to where I should have sold (red). Still, I expect great things. China's chemical stocks are down, Iran isn't exporting, and everywhere but NA gas is screaming higher. Earnings tommorow.

#Oil's 4 week uptrend (green) seems to have been broken decisively by macro-pennant resistance. It's still well inside its 5 month uptrend, though. That lower bound is down at $95 (yellow). I don't think the breakout has been canceled. I just think there's a LOT of tension here