Hey Trader,
Finding Unity in the Markets
In the hustle and bustle of the trading world, it's easy to get caught up in numbers, trends, and strategies. But amidst the chaos, let's not forget the power of love.
Colossians 3:14 reminds us, "And over all these virtues put on love, which binds them all together in perfect unity." Just as love unites virtues, it can also bind our trading journey.
When we approach the markets with love, we cultivate patience, empathy, and compassion. We treat our fellow traders with respect and understanding, fostering a sense of unity within the trading community.
Let's infuse our trades with love, making decisions that not only benefit ourselves but also contribute positively to the trading ecosystem. Together, let's create a market environment built on integrity, kindness, and cooperation.
As we navigate the ups and downs of trading, may love be our guiding force, bringing us closer together and fostering unity in our shared pursuit of success.
Be Relentless In Pursuit Of The Will
Which God Has Set Upon Your Heart,
Anthony Speciale
Oil Firms Express Concerns Over Trans Mountain Pipeline Start Date
Oil companies preparing to transport crude on Canada's expanded Trans Mountain pipeline are skeptical about the project's full service commencement by May 1, despite the obligation to pay tolls from that date.
According to Reuters, Suncor Energy, along with other major shippers like BP and Marathon Petroleum, have conveyed doubts to the Canada Energy Regulator (CER) regarding the project's readiness.
Trans Mountain Corporation, responsible for completing the pipeline construction, informed Reuters via email that the line fill process for the expanded pipeline is expected to wrap up in early May.
The expanded pipeline, after experiencing multiple delays, cost overruns, and legal hurdles, is slated to begin operations on May 1, as announced earlier this month by the company.
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With a capacity set to triple from 300,000 barrels per day (bpd) to 890,000 bpd, the pipeline aims to transport crude from Alberta's oil sands to British Columbia on the Pacific Coast.
Initially purchased by the Federal Government of Canada from Kinder Morgan in 2018 for $3.3 billion (C$4.5 billion), the Trans Mountain Pipeline Expansion (TMX) has since seen its costs skyrocket to nearly $23 billion (C$30.9 billion).
Continuous delays have plagued the expansion project, with a recent setback occurring in December when the Canadian regulator rejected a variance request to relocate a small pipeline segment due to challenging drilling conditions.
Despite the hurdles, the company's request for reconsideration received conditional approval on January 12, averting a potential two-year delay in the project's start-up.
S&P 500 Retail Analysis for Thursday: April 25, 2024
Let's talk about some numbers and what they mean. Right now, we're looking at a range between 5082.50 and 5098.25 which could contain buying strength thru Friday.
If we dip below 5082.50, we might see the market drop to around 5003.50 pretty soon, maybe within a few days. And if things get really rough, we could even see it go down to 4808.25 within a few weeks.
Now, if Thursday's trading session sees us drop to 5003.50, that might stop the market from getting even weaker. But if we end the day below that number, it could mean we're heading towards 4808.25 within the next 1 to 2 weeks. And if things keep going south, we might even see it hit 4572.50 by the end of June.
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On the flip side, if we manage to climb above 5098.25, that could mean good news as we'd then have our sights set on 5174.50.
And if we can keep that momentum going and settle above 5174.50, that's a sign that the market is looking bullish. In that case, we could see it climb up to 5527.75 within the next 3 to 5 weeks - noting it could also contain June buying activity as well.
Keep an eye on thee numbers and stay tuned for more updates!
Happy Trading,
Speciale Analysis
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