is a presentation of T F N N. Traders edge with Steve Rhodes toll free at 1<PHONE_NUMBER> or internationally at<PHONE_NUMBER>. Traders edge now Steve Rhodes. It is December 6th. Thanks so much for joining me. I'm your host, Stevie Perseverance Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everyone out there is having a great day. Let's make sure we have an extraordinary day, an extraordinary weekend, an extraordinary life and the easiest way to do that. Well, first it's to make sure you're not a prisoner of your past. But then it's also to realize that you're not a prisoner of your past. Not to us. That's right. When you when you and I can recognize that means we can find the gift in every set of circumstance that life is going to toss at us. Now today you and I we're going to go check on the circumstance of these markets. We're going to figure out with those bulls and bears what those buyers and sellers are communicating to you and I just passed one o'clock in the afternoon. I want you to know them absolutely well. So feel free to pick up that phone. You can dial it in at 8779 276648 if you can't dial in. You can always send me an email Steve at tfnn.com inside the subject heading. Please put radio show question. Of course, our tiger is done. Well, any ping will do. So let's go ahead and get this show started on fantastic Friday. Of course, this is Tiger Financial News Network. I'm Steve Rhodes. Welcome to less show. So all right, let's go ahead and get this show started on fantastic Friday. It's pretty much big time, so to speak. New York Stock Exchange is the weakest end to see only up 1%. That would be 126 points out there, but it's moving higher with less relative energy. Hmm something to think about. You've got the spot volatility trading below its 50 day exponential moving average, giving the leverage liquidity leverage back to the bulls that straight out of 1348 to 1666 still hasn't broken through a key level of support. So just consolidating in between support resistance will take a look at that Silver's moving lower, less relative weakness out there on its daily time frame. It saw 43 cents trade out at 1653 lights recruit is tested the key level of resistance that we've been taking a look at for a couple of weeks out there. Can it take that out? I don't know, but we'll go take a look at that area. It is in wave number seven. It's going to turn. It's going to turn here soon. Not necessarily get 110. It's 109 right now, but maybe over the next couple of days and if it breaks through that resistance, well, then it's telling you of a change in trend, and that's where we're going to lead into our first question that came in from Robert B. Would you simply go right from lights? We'd crew to his question. His question was or is me. See this here came in a bit earlier. Would you take a look at the daily or weekly time frame? I don't really have a position. However, I'm interested in going long when the time is right. So if we take a look at XOP first, let's put up our three excuse me time frame charts out here daily, weekly, monthly, just get a feel for where price is trading relationship to support resistance of its TAS market profiles. And right now it's trying to. It's a brand new profile that formed yesterday on a daily base would say something to think about. Maybe price might move higher, higher where well the top of the weekly profile is at 24 43. So that would become the next target. But before it gets to 24 43 out there with regard to the XOP boy, we really need to make sure that this thing has bottomed. Why? Why would Stevo say that? Well, folks, if you take a look, you know, here you've got markets at all time highs or close to all time highs. The XOP that's the S&P oil and gas exploration and production ETF out there. It made its high. Well, actually it's high was made us all time high was back here in June of 2014. It did make a lower high earlier back in 2008. But really where I'm going with the lows is the lows. Well, they're really not the 2008 lows anymore than the 2019 lows. But if we do take a look at that swing point from November of 2018 at the 2290 level and price did make its way back in 2016, January of 2016, that's where it found support. It is below that level right now, Robert. So it's a well, let's go take a look at the other charts out here. But that's not a beautiful story out there. The other problem that I believe it is the monthly chart, Robert, that's going to give you and I the signal that a bottom may have formed. This is going to be or should be or could be. It's too early in the month to really say that. But this may be, that's what we're going to do with it. May and be be a bar eight of a TD set up nine count pattern out there. Price is also moving lower doing with less relative energy. So if this month we could see some type of bullish reversal candle out there, well that could be a signal of a longer term bottom. But the real key here is going to be a close above Stevie's red line. Stevie's red line is priced at 2308. That is on the monthly time frame and Robert, that is where price needs to clear whether you get in the trade now or if you get in the trade for a few points. You know, it's about 10% give or take. Not bad if you can catch it. But so let's go back and look at the other charts. You had mentioned weekly time frame chart. I believe the weekly time frame chart has been trying to form a bottom or did form a bottom a while back. Let's go take a look at it, see what's going on here. Price was moving lower doing less relative energy back into August 30th. Now price is trading above that low and we did get a bullsash candle this week just depending on where the XOP closes. So that's trying to really confirm that roads momentum indicator signal on the weekly time frame. So the weekly is saying if you're looking for a signal on a weekly, you sort of have it, but you must know you've got this resistance 2443 2290 perhaps in the week, the daily chart out there. You did mention the daily. I should show the daily for you and on the daily time frame. Well nothing out here that's going to give us a clue of a bottom coming from the daily. Just simply price right now is dealing with a resistance level. If it doesn't clear that resistance level fact right now, it must have been some sellers in the XOP because price is right back below the top of that profile 2111. That is where the sellers are. So if you're going to buy this and price close below that, well then try the 2017 area. That's where buyers reside. That's the bottom of that daily chart out there. So Robert, I hope that helps y'all. Thanks so much for writing in. That bleeds us or leads us right into LightSuite crude. I had mentioned this earlier as we were doing the opening subscribers that we were in a long position in LightSuite crude. We ended up taking our profits using a stop that took us out of the trade. It was on this big bar here, this downranging bar back on what was the day out there. No big deal. It was a big flush to the downside and what it did was it took some time to get the profits. But not all of them. We made some money out there was on November 29th. Our target was always 5960. In 5960 was the TD set up nine count resistance level where price had broken down. You can see it made that bottom with that TD nine count back on October 3rd. So that was the bottom utilizing that pattern. And now the key is can price close above 5960. You will see letter G above today's session that could extend to the top of the chart. So that's the top of the chart. We've seen part of Basil Chapman's wave program, but it's not the it's not the Chapman wave in its entirety for that. You've got to use a whole you got it first to sign up for Basil's workshops, even though he just recently did one you can always catch the archive. I'm sure of that if you were to sign up. But in any event up here, you're in wave number seven can be a top of the chart. If you're not currently using the Taz profile scanner when looking at setting up your trading opportunities, then your arsenal is short. A mighty weapon. The Taz profile scanner is a standalone piece of software that instantly filters over 25% of your trading opportunities. So if you're not currently using the Taz profile scanner when looking at setting up your trading opportunities, then your arsenal is short. 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Many of our new Tiger Real Estate is a lively community where professional traders and investors can meet exchange ideas and information in a comfortable moderated atmosphere here all the TFN shows plus see all the charts as they happen live and have access to archives of all of those charts you can test drive the Tigers then absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you details on the Tigers then on the front of our brand new website you can still visit us at the same TFN .com URL but when you do you'll see a new and improved homepage with a much simpler navigation whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions we even have new pricing in six months and yearly options check out the new TFN .com now and experience all the upgrades TFN .com educating investors call now toll free at 1-877-927-6648 internationally at<PHONE_NUMBER> 350 S&P 33 Andy X-193 points out there we'll go ahead and take a look obviously at the equity markets but let's go to our request line out here and our request line was to take a look at gold, silver and copper so what are we going to start with so what do we know about silver first it's getting crushed today but let's take a look at where prices trading in relationship to its profiles and here we'll just simply well it's below the daily profile that was 1691 out there okay it breaks one key level of support where's the next level of support we'll just take a look at our Tas market profiles they can help us to identify support and what you will see here is on a weekly basis the level of support to say now I'm using last week I believe it was last week we rolled out of the December contract into the March contract for silver during rollover period where I've got lack of data so to speak out here better to use my Etchestech version of the silver contract different than the continuous contract this way you and I have market profiles that we can use that we can rely upon in this case here this is a bullish structured weekly profile in the bottom of that is 1658 the low so far has been 1658 how does that work folks remember at the bottom of the profile is where buyers are at at the center of the profile is where both buyers and sellers are which is simply going to call the 50-50 and when the buyers this case here at the 50-50 level the center of the box are closer to the bottom of the box that's very important because then you have a large group of buyers that are down there and because it's bullish in structure if we are to see a close below 1658 out there that would spell curtains I'm not sure what kind of curtains but the kind of curtains that move prices to the downside now move it to where well if we take a look at the weekly timeframe chart out here again I have been cautioning folks for a while now about being careful about gold about silver about the equities that are in there because of the significant topping patterns that are present if we take a look at the weekly timeframe chart for gold we're going to see silver I should say we're going to see that back in November of 2018 this bottom with the roads momentum indicator signal that actually occurred on December the 7th out there when we saw that bullish reversal candle and in essence and then price moved up in a top back in February of 2019 forming that TD set up 9 count price comes back test the breakout area 1483 there was a close below it for one week you need to see two candle closes below any level of support to tell you that it has broken out there that was not the case price found support where it should have and makes a move to a TD 9 count top that does that the week of September 6 now what we have here is an A to B equal CD to the downside gigantic A to B equal CD to downside the B point was taken out with that wide-ranging bar the week of November 8th folks this chart is scary not that scary but it is pretty darn scary if you're trying to take long positions in silver you're not just a trader out here the target to the downside and usually metals in their A to B equal CD they'll overshoot but the one to one is 1568 now at 1525 is where the breakout began on a weekly basis in silver that is likely where it is headed to because 1568 is the one to one it overshoots well why doesn't it overshoot to go back to the point where it should have a lot of support what's going to occur here I don't know what the timing is it is going to shake the bulls out of gold and silver and they are never going to want to own it and that's when you and I are going to want to own it and probably hold on to it for quite a while but right now when we take a look at the longer term charts of gold in silver we did gold and it showed similar which are we don't need to go there we'll come back to we'll come back to high grade copper but first we've got a caller on the line I see that so let's go to Ron in Denver Ron thanks for calling thanks for holding how are you today great Steve thank you for taking my call my pleasure I'm going to take a look at Visa I was interested in getting in call position take me out to January on Visa and I just wonder it's been trading flat for a while it looks like it to me like it wants to get a little stronger and I just wanted to which how it looks to you so you've got resistance if we just take a look at and start with the daily weekly monthly profile levels the monthly profile shows you got resistance at one eighty seven oh five you're trading at one eighty one right now and the daily and it's a bare structured daily profile says one eighty four eighty five hasn't really participated today and knowing that you've got resistance up there just at least it it smells to me like caution so to speak when I take a look at the Visa chart let's see if there's anything else that I've got here that we can take a look at shows us tops or bottoms or anything the daily time frame no no pattern there to speak of let me take and really that's what it would be but let me just take a look at the weekly time frame out here see what we've got you know the weekly shows a rose momentum indicator top that was September 13th that high out there is one eighty seven eighty five price on a weekly basis is below Stevie's green line this may be bar number eight of a TD set up nine count on a weekly basis that suggests caution to you Ron I guess when I take a look at this and we look at the patterns that are present inside of a visa on the daily which is not much other than resistance but weekly we should certainly see that top out there I'm not so sure that this and today's action out here you know you're flat in essence in visa today so maybe that's maybe that's I appreciate that and I'll hold off but could I ask you one more it's in the gaming industry yeah should have a big Christmas it's a eight activation a TV I okay and what you're looking to do the same type of thing going into January and calls I know that they got hit I think because of this Hong Kong thing okay this affected them because they used to get to round eighty five and so yeah so I don't know where they have to be careful or they'll get shut out of the Chinese market right but they got a lot of games okay I believe you I believe you this military game now coming up yeah yeah so here's the deal with regard to activation and just from a from a profile standpoint here you're looking for activation to trade higher into the end of the year and so ideally first you'd like to see price trading above resistance it's like driving down the expressway you know and I'm sure you know where you live in Denver there's probably there's probably if you travel the same road each and every day there's probably areas where there's congestion doesn't matter if the sun is shining or it's raining or it's snowing out there but once you get past that congestion you sort of know your home free and that's what understanding where the resistance levels are well prices above the resistance level on a daily time frame so we already like this chart better than Visa resistance here was fifty three sixty and then on the monthly time frame price above resistance which was fifty three thirty so that's your support level out here the weekly it's trading with inside the profile fifty six twenty six to fifty one twenty two so resistance out here be fifty six twenty six it's equally distributed that box being the center is pretty much in the center so no reason to be too alarmed by it there are sellers of fifty six twenty six but doesn't mean you can't take the trade out there on the daily I'm not seeing anything here to be aware of other than back at its which might be an all-time high the high from November so Ron I just have to say and looking at the chart patterns out here this would be the better of the two to take the style trade that you're looking for I appreciate that and I'll give it a shot we'll see how it works over the next month and a half sounds great hey have a great weekend I appreciate that very much thank you sir you bet that was Ron in Denver Steve Rhodes with TFNM will be right I'm Steve Rhodes author of Mastering Probability and for the last 12 months Timer Digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12 six and three months Timer Digest also ranks me as the number one market timer for gold as well the fact is markets can be timed and I'll teach you the exact set of tools that I use that is trained by the S&P 500 and I'll teach you the exact set of tools that I use that is transformed me into one of the best at what I do sign up for Mastering Probability today by clicking on the newsletter tab on the homepage of TFNM.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls to sign up today the path of least resistance is David White's daily trading newsletter and if you're looking for active trading ideas then now is a perfect time for a 30 day free trial to this powerful daily trading advisory service David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter using a combination of equity trades along with options David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted don't miss out on this great chance to get a 30 day free trial to David's daily newsletter the path of least resistance with no obligation to pay anything David has been delivering solid recommendations for his subscribers recently and if you'd like to see the type of newsletter he delivers every morning then visit the front page of TFNM and you'll find the path of least resistance under trading newsletters for all the details and to start your 30 day free trial today log on to TFNM.com now TFNM is excited about their new software charting program the art of timing the trade charts in collaboration with Tom O'Brien and using his best selling book the art of timing the trade your ultimate trading mastery system David White has programmed an outstanding piece of software that will complement any traders methodology using this first of its kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci formation setups including guardleys, ABCs butterflies and much more the art of timing the trade charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days weeks or even months searching to find and right now we're offering licenses available at only $79 a month we are so confident that you're going to love this new charting software that will even give you a 30 day unconditional money back guarantee don't miss out on this incredible new piece of software get your copy of the art of timing the trade charts today by visiting this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of TFNN dot com so the question is where's copper headed to so let's go take a look at the doctor out here and what I've got up on my screen right now for john inside the tiger's den is that the synthetic version of my contract is going to be the more reliable set of profiles for us and well you can see that's occurring today the two right hand panel charts are daily and weekly that price is above both of those profile levels so just like Ron and I were talking it's nice for price to get over where sellers are at where resistance is we'll find some other sellers I'm sure but with regard to these charts with regard to profiles the explosion has taken place or the the traffic jam I should say really the traffic has now cleared up and price can move to higher levels price in the case here on its 6240 daily weekly above all profile level so no reason for price to stop however not so fast we say not so fast we want to go and be able to identify support resistance out here and when price is above resistance levels of our task market profiles what do we go to next either larger time frame which we probably could do we could put the quarterly up here and figure that out we're not going to do that we could do that but we're not going to do that or you go to horizontal trading ranges I don't have the time to do that we could do that out there but we could just look at the daily and weekly charts and start looking for any TD set up resistance levels that we're going to do because that's a simple thing so let's pull over that daily time frame the question is will high grade copper target the 280 level well low behold we've got this nice explosion but because good old Tommy DeMarc are utilizing a portion of his system and I mean only a small little nugget the easiest piece the reason why we selected this well I select this for a number of reasons but one of them because it's easy for you to do for you to calculate that's the beautiful thing you don't have to be a technologist a technician to be able to figure this out you just have to be able to count and take a look at close versus close and close versus close whether it's going up or whether it's going down that's a beautiful thing and the beauty of it is it sets up levels of support and resistance and the next level of resistance is $2.74 out there and this level here was created well it takes us back to the high of May 21st out there it actually formed and completed on June 3rd when price bottom with a TD set up 9 count that's a beautiful thing isn't it well Stevie says it's beautiful thing you may not think it's a beautiful thing but I think it's beautiful thing in fact when it makes a high out here on the trading day of July 19th that doesn't with a TD set up 9 count and you can see how this resistance area John has really been nice resistance so yeah you got a nice wide-ranging bar today but but let's realize where resistance really is right now and it said $2.74 and I know you're just looking for $2.80 probably that prior TD 9 count high back here on July 19th but if price can close above $2.74 and do two consecutive bars daily bars we're looking at a daily chart right now then price can move all the way up to its next breakdown area and that would be $2.92 so beautiful moves yes price above resistance but now what you and I know is there's really a more important level of resistance at nothing to do with the TAS market profiles and it's sitting there at $2.74 so I hope that that helps you out with regard to what we see on the daily time frame chart for a high grade copper I believe there was a request to go take a look at rig lots of things lots of moving parts going on so I'm not sure who requested that and hopefully it was a request but if not well I'm requesting it then we're going to go take a look at rig transition out here transition right now trading above its daily profile so free to roam to further higher prices above the weekly profile which is $5.15 and trading in between a monthly profile brand new that formed here in December a bullish price can close above $5.57 your trading at $5.74 that's probably pretty close right now it's suggesting that transition rig wants to trade up to its resistance level or $7.38 that is the top of the weekly profile let's not stop there let's go take a look at the daily time frame see what we see here well what we see here is that transition or ticker symbol RIG is going to close or appears like it's going to close above resistance $5.40 so a second close above that looks good but jeez Louise at $5.96 you've got resistance as well out here now this bottom with a nice little TD set up nine count bottom it did it at the bottom of its profile it did it with a hammer candle hammer candle telling you that the market was or this market instrument was trying to form a bottom voila it did that's a beautiful thing price now above its resistance area out here it does look to me like on the daily time frame this still wants to head higher but $5.96 is going to be the next resistance level so if we can clear that that would be a beautiful thing let's look at the weekly time frame chart what's the weekly chart shows for ticker symbol RIG not much not much so there's nothing here I say not much it's not the pattern I didn't I didn't do the wave count on it we could but what we won't we don't need to the daily and the profiles are suggesting to you and I that price wants to go higher we don't need to the weekly chart I don't have anything either so we're just going to have to resort to the daily but whoever requested RIG or if somebody did or if you didn't well RIG looks like it wants to continue to move higher I do believe we've got another request out here we do this from Brent in Martinez California Brent wants to take look at ticker symbol S CPE out here because you always need those continuing professional education credits if you want to go ahead and maintain CPA, CPAs need CPEs you got to love it but this is Calon Petroleum Company out here now what I really should do is read Brent's question out here so looks like it's bottom of the daily and weekly were made the weekly can is looking fairly bullish your thoughts would be very helpful have a great weekend you have a great weekend let's all have a great weekend so here's what we do know about Calon Petroleum however you want to refer to it with regard to trading into its resistance levels it's above its bare structured daily profile Brent that was $3 and 95 cents the center was closer to the top which was 384 and the bottom of support was 362 this is suggesting higher price on a weekly basis prices getting back inside the range of its weekly profile the bottom of which was 393 now there's resistance at 428 this is a bullish structured profile as price had closed below the bottom of that profile last week and the week before so we had two bars there a counter trend rally would find resistance around 428 it's trading at 405 right now so just watch that area if price can clear that with some conviction then the top of that profile is where price would be headed to that would be $5 even Steven the monthly time frame chart nothing here price well below its profile levels not a daily time frame if we take a look at it all I have and that's all you need is a TD set up nine count pattern that form bar number eight was on November 21st that was the so called bottom as we speak and if price can move oh I've got CPS CPE sorry about that Brent but say CPS formed a nice a TD set up nine count bottom for those of you that care it does help if you actually type in the correct symbol doesn't it it's a beautiful thing okay so now we take a look at CPE cheese forget about this profile I don't know why this profile is different but I don't see that bottoming pattern the roads momentum indicator bottom on this daily time frame chart out here but that's okay in the profile we're going to rely upon is the e-signal version here the one with the black background chart on a weekly time frame what do we got in the weekly time frame let's just do a quick wave count see where we're at on the wave count was there a wave number seven there was wave number seven so you got a wave seven bottom a nice three river morning star pattern on its weekly time frame and this would say that price would target five eighty four five dollars and eighty four cents is the target between five and five eighty four for ticker symbol CPE that was for Brent California great if you're in the CD market and looking for a secure investment the Tiger first mortgage program may work for you the security for these first mortgages are building lots in the tax opportunity zone in st. Petersburg Florida the tax act of twenty eighteen set up tax free zones across the country where you can build and hold for ten years and pay no tax on the profits which makes these lots valuable the investment is anywhere from thirty thousand to seventy five thousand the interest paid is seven percent yearly paid on a monthly basis according to bankrate.com the best rate for a four dollars and eighty four cents is three point one percent of fifty thousand dollar investment at a normal four year CD rate of three point one percent would give you income of fifteen hundred and fifty per year or sixty two hundred over the four year period that same fifty thousand dollar investment in the Tiger first mortgage program would give you thirty five hundred per year or fourteen thousand over the four years what should you prefer sixty two hundred of fourteen thousand of interest on your investment if you'd like more information about the TFNN newsletters that's eight seven seven five one eight nine one nine zero if you haven't checked out the news letters page of TFNN dot com what are you waiting for all of the TFNN newsletters are informative up-to-date affordable and must have for every trader looking to gain a competitive informational edge in today's markets TFNN newsletters cover every aspect of the markets to offer you the very latest in market news to test drive our newsletters risk free for thirty days from all aspects of the markets including stocks bonds metals commodities and tech there's a newsletter to fit your needs exclusively from TFNN stay informed each day you trade and get the competitive edge that will help you stay ahead of the game visit our newsletters page by going to TFNN dot com and click the newsletters button near the top of the page of TFNN dot com educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade L. A. B. U. or L. A. B. D. Directions daily S. M. P. biotech three times bull and bear ETFs visit direction investments dot com slash biotech today and investors should consider the investment in the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at eight six six four seven six seven five two three the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor we hope to see you for next time. See you next time. Click on the T. F. N. .com. .com. .com. .com. .com. .com. .com. .com. .com. .com. Hi, okay, I guess you I guess you're saying you can hear me. Yeah, you can hear me J. Good here. Okay, perfect Thanks. So currently we got the dial up 346 the S&P is up 32. Let's go to our next request out here which was for ticker symbol CHW Y and So that is chewy and the question for for Hector is Says you call the nice bottom in this puppy scary candle appeared how do How does chewy look now? So let's take a look at that chewy. I didn't call the bottom That's for sure. It would have been Stevie's tools that would have called the bottom that in this case here for chewy Is the roads momentum indicator bottom that be they push price lower? They did it with less relative energy You can see that I know it really began out there were a couple different times that it began once was September 28th the next was October 1st Of course that was just a warning shot across the bow those didn't matter because there was no bullish Reversal can't remember folks you and I were methodical about this We don't care about the news. Well, we might be interested in news But with regard to the charts none of us can hover over a candle and remember exactly what happened out there We don't need to we just need to know chart patterns in the case of chewy moves lower It does with less relative energy forms a bullish reversal candle out here does that with the piercing candle on November 20th That's really what called the top price right now is trading really just with inside its profiles Hector. There's nothing There's no problem. You're probably referring to the candle of December 5th out there where it was a wide-ranging bar to the downside But what price never did was broke through any levels of support So right now all chewy is doing is trading with inside its consolidation range of 20 to 61 to 24 73 but it's trading at 24 88. Voila now prices potentially going to close above a key level of resistance And if it can do that what it's suggesting to as long as you've got two bars with closes above that is 28 27 becomes your target Hector out there so chewy still has a nice bottom looks like it wants to add to 28 27 Hasn't traded long enough for you and I to go take a look at the weekly and or monthly charts It just doesn't matter. There's not enough data for you. I'd really be able to Make any call there the next question. This one is coming in from from sat P and the ticker symbols by Indy beyond meat Stevie still has not tried beyond meat Stevie will not try beyond meat I like my vegetables as vegetables. I like my meat as meat seems kind of simple out there But I don't know I say get a salad with your burger Yeah, doesn't that sound or put lettuce and tomato on your burger out there or put burger on your Imitation burger. Okay beyond that. Okay, let's get beyond that out there Actually was just kind of stalling because I couldn't get the ticker symbol up on my other charts but the question is can you please look at beyond and See the profiles and if there's a bottom should I wait or cannot buy a few shares? Well price is trading below the bottom of its daily profile bottom. It's daily profile 7607 straight below the bottom. It's weekly profile 80 98 not enough time for this to generate any kind of monthly Time frame profile but price almost back to where this thing began trading from an IPO standpoint out there If we take a look at beyond meat There was a skyrocketing think of how many people this thing trapped up at the highs in the 200 to 240 it's trading at 75 buckaroonies out there Holy schnikeys out there now if we do take a look at what does beyond me doing well? right now today it's trying to form a bottom Price moving lower doing less relative energy Yeah, it's trading below the bottom that box But you do have what appears to be a roads momentum indicator bullish reversal candle That's called the three river morning stars So yeah sat P if you want to go ahead and take a few shares No one not to haven't cleared resistance of any sort out here, but you do have the bottom signal That's what you are looking for you would just go ahead and make sure that your stop was The average true range over the last 10 days is 404 Multiply 404 times 1.27 or 1.618 that becomes the size of your stop If you risk 1% let's say it's on a $10,000 account That would be 100 bucks take 100 bucks divided by what might be somewhere around 5 and that would be 20 shares That would be your 1% risk Maybe you just do half of that but do the math that was just quick math in my head and my My abacus could be misaligned or something like that I would rather you do the proper position size remember folks It is all about position sizing when you are trading when you are trading investing doesn't matter for what time frame It's all about position sizing. Why did my mom? I lost my mouse. No wonder. There we go Let me try to get it back. Where where are you? Where are there we go? Okay, okie-dokie. So there we go for beyond me now What we probably should do out here is take a look at the markets. We've gone through all the questions out there Is the ES saying in the key of G so Maria And that's like the perfect segue We haven't even covered the equity markets But this is the segue into covering the equity markets and Maria wants to know has the yes mini formed wave number seven That would be letter G as we take a look at it It already has at least according to the tools in the way that I calculate it So it's either in G. Okay, right now, or it's an a a or G Well, what this did do out here folks I'm gonna try to pull this together Maria for you by taking a look at the daily in the weekly and then the Dow But the under the covers of the Dow to see what we see out here now Here's the a to b equal CD pattern which completed with the bearish and golfing candle last Friday the day after Thanksgiving When we were all digesting so too were the markets and the markets digested by generating a bearish and golfing candle out there And then while law we saw that move to the downside on Monday and then on Tuesday We take a look at the yes many didn't get all the way down to its breakout level up 3063 But got down to a level pretty close now prices trade above the key level out here Maria Probably about 31 43 that is Stevie's green line I'll tell you the reality folks if the yes mini close below 31 43 This may just be a countertrend rally It's a suggestion that resistance will have held likewise Maria if price closes above that Probably well with the ties will get tested, but it would appear that we would go in or it would go and take out its Even further take out its highs out there. Where would it go to with regard to the yes mini? Well, I'm glad you asked that question the answer that question would be Well, where are the horizontal trading ranges here are the Daily weekly monthly horizontal trading ranges and they would suggest a move Maria up into the 31 84 ish area That's what the yes mini is looking like those are the patterns What do we know that took place this week as price pulled back it tested that diagonal trend line the yellow line out there This signal there M is that this is a real breakout, right price gets above resistance a resistance line comes back Test it rejects it. That's what happened this this week And and now it could be off now the races when I say off the races may just be another 30 40-point sire in a 31 84 Especially the close above that 31 43 level Stevie's green line out there. That's what it looks like to me Now if we go take a look at our TAS market profiles, we incorporate that so we can cover what Jay would need out here Well, that's 31 58. So we've got resistance in the yes mini 31 58 And and if price can clear that as well then it should be up to that 31 84 ish area out there But folks before we go to this breakout here I'm just gonna put this chart up on my screens on a chart It's one of my tools helps us identify tops and bottoms. This is all of the stocks in the doll 30. Look at the monthly column Says M. RMI look at all of those tops Even if the markets continue to move higher, we may have some real troubles in River City real troubles We'll be right back Since 1984 Basel Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion Well, originally hand-drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply Later Basil found that computer software which included the standard market technical indicators Enhanced the degree of accuracy and calling price turns as well as market trend calls Thus was born the Chapman wave sequence Using the Chapman wave methodology along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter Right now you can get a two-week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN.com Cancel at any time during that trial and pay absolutely nothing get your two-week free trial to Basil's newsletter the opening call today by visiting TFNN.com If you're a trader in the market looking for exposure to gold or gold mining equities Then now is a perfect time to sign up for Tom O'Brien's gold report. The summer is over gold is trading back above $1,500 and the 10-year treasury is hovering at around 1.5 percent Tom O'Brien has been writing his weekly gold report for almost 18 years There's no one that knows more about how the gold market trades and how gold mining equities react new Subscribers get a 30-day money back guarantee so you have nothing to lose every Monday morning Tom publishes his weekly gold report with coverage of gold silver bonds the XAU HUI GDX the dollar as well as more than 30 different mining equities as of September 3rd gold report subscribers have five active open positions with an average unrealized profit of almost 38% for each position to see for yourself the types of profitable trades that are recommended within the gold report Sign up today by visiting TFNN.com You know, it's cool taking something that's good for you Something specifically formulated to help with weight loss better sleep stress reduction and the need to detox Nicar hunter and gatherer ancestors found all their nutritional requirements for health in their wild environment But today our food sources no longer contain the vitamins minerals and nutrients our bodies need to stay healthy and strong That's why we need primal edge daily nutrition It includes a special blend of ionic soil-based vitamins minerals baddie and amino acids and an easy to use liquid form Primal edge is powered by highly concentrated folic and humic acids nature's preferred delivery system They've been called miracle molecules because like sunlight air and water life cannot exist without them. That's right page They ensure we receive all the nutrition we need to be healthy and thrive We take it every morning primal edge Formulated and approved by Niko and Paige of living a primal lifestyle buy it today for just eighty nine dollars Click on the primal edge banner on the front page of TFNN.com This is David White stay tuned because coming up next is the power trading hour right here on TFNN Folks let's come back to Jay's market profiles We just touched on them briefly the Dow that is panel number three from the left to from the right You can see it's trying to form a new daily profile. It keeps shifting. So we're not gonna rely upon it right now But we do have profiles that we can rely upon the ES mini as we talked about resistance at 31 58 The Russell 2000 has hit its resistance level. It's backed off a bit 1636 out there So you've got two at resistance now if the current profile inside the Dow is accurate I don't know if it is or it's not using my using my Leading indicator and even if it's not we can go back to the current one the one that was there yesterday and where price would have stopped In some type of countertrend move would have been either the bottom or the center line and prices right now is trading Basically at that center line. So we've got three instruments at or near resistance the NQ not at resistance It is above the top of its daily profile, however How does this work isn't a beautiful thing don't you love Stevie's green line or red line? Because where is price stopped in a Stevie's green or red line support of resistance? Why yes, it is So now what we've got as explosive as a move as this has been and em We do have wave number seven inside of the NQ on a daily basis We've got an a to b equal CD pattern and we have price moving right up into resistance So we've got all four contracts at resistance. So just be careful. Look at things look bullish They they absolutely do you got the spot ball of tunics below its 50-day exponential moving average that's somewhere around here Where is it? Where is that? Where is that Vicks chart? Where is it Vicks symbols? There we go So you can see it's well below Well, well, well, it's yeah, it's well below 1397 is the number. It's at 1356 So things look bullish out there But again folks and we showed you this just before we went to that last breakout here 16 of the 30 Dow stocks if you take a look at this column it says mrmi all of these topping signals Look at the weekly. You've got plenty of weekly topping signals By the way, you've got a bottoming signal here in McDonald's if you were looking at McDonald's to your portfolio You should go explore that chart with regard to the Dow. Hey folks Thanks much for being here today all week long. I look forward to seeing you on magical Monday Stay tuned your favorite polar bears up next and have a coke with your favorite polar bear. Take care. Have a fantastic weekend


Welcome, distinguished guests. We are at the energy session organized by CNN Turk and the World Economic Forum. I would like to welcome you all to our CNN Turk's energy outlook. So during this session we're going to talk about changing energy dynamics in the region and we will go into the details and what are the key challenges, what are the potentials, what are the problems which we have to face and new resources, new energy and new plans and what is the future agenda. Let me brief you the essence or the general framework of this panel. The challenges facing the energy industry are growing more difficult every day. Projects are increasing in size, complexity, risks and costs. At the same time society is transforming and demanding more from both business and government. These changes create not only challenges and opportunities for companies in the energy industry, policymakers and society at large. On the other hand there are serious political developments in our region which concerns also stakeholders and policymakers. So as I said we will focus on the future agenda. If you permit me I would like to start with Mr. Fatih Pirol and before that I want to introduce my, sorry, I have to introduce you our panelists today. Minister Tanahildes is with us today, Minister of Energy and Natural Resources here in Turkey. Thank you very much Mr. Minister to join us. Kemal Ben-Masur, Minister of Industry, Energy and Minds of Tunisia. Minister thank you very much again. Also we have today Fatih Pirol, Chief Economist for International Energy Agency in Paris. Thank you very much and again we are delighted to have here with us again Majid Jafar, Chief Executive Officer of Crescent Petroleum from United Arab Emirates. Thank you for joining us. So as I said I would like to start with you if you permit. In more recent years there has been almost revolution in energy markets globally with the discovery and exploration of non-conventional resources like Shellgas. US has become almost independent in terms of energy requirements so please share with us your comment in this region is still important for the global energy markets or not. What's the new challenges? Thank you very much. As you rightly said there is a big revolution in the North America. US mainly but also Canada. United States today is the largest oil producer of the world and largest natural gas producer of the world. United States is overtaking Saudi Arabia as the number one oil producer and overtaking Russia as the number one natural gas producer. This is one. However to be a big producer is something to be a big exporter is something different. In terms of oil almost all the oil US producers at home will be used by the Americans. They will have almost no major volumes to export to meet the growth in the demand in Asia in other countries. So when we look at the global picture there is only one region which can meet the global oil demand growth which is the Middle East. When you look at the size of the resources when you look at the cost of low cost of production my message is Middle East is and will remain critical for the global oil markets for many years to come. Middle East is the address of the global oil markets for many years to come. Of course I'm sure my colleagues especially Minister Yildiz will mention it. The geopolitical developments in the very region overshadows the economic and energy effects in the region. Station in Iraq, in Libya, problems between Iran and the international community and Russia Ukraine crisis all around this region tells us that the energy and geopolitics will be more and more interwoven and for me if I have to drive one single message energy security will move up high in the international agenda in the next months to come. I don't have the good news or a bad news but I think countries like Turkey which is very stable in the very region will play an important role to ensure that energy security is at its place. Thank you. Thank you. Minister Yildiz let's start also with your perspective about the general view of the energy sector on a global scale. How do you see the future, the near future? First of all we have to recognize that economies in the world are globalized but we also see that there is nationalization of some activities. This seems to be a paradox because economies are growing with the injection of international capital and these economies continue to grow and they feel like they have to act very carefully. Turkey is a developing, growing country and as such has to follow up on developments that are taking place in the world because Turkey's growth is possible with the support of international capital and energy and international politics are two topics which are very much intertwined and they are complementary to each other so much so that lack of one brings about questions about the other. With Fukushima preference has moved towards natural gas despite the fact that shale gas is now important in the U.S. And the United States is not an exporting country but the position of the U.S. is always important and Russia's relations with the EU especially with the Ukraine crisis, the instability in the Middle East are all factors which are very important and Turkey is in the middle of all these developments like an island of stability, it has some geographical advantages and those advantages are becoming even more important under the circumstances. The natural gas and oil reserves to the east and north of Turkey constitute 65 percent of world's known reserves and to Turkey's west you have 65 percent of consumption which means that Turkey will be very important in terms of projects that it will be involved in. There are still 1.4 billion people in the world who have no access to energy and so it's very important that the energy sector grows in order to provide more access to more people. And the political instability that we see in the Middle East has created some concern with respect to the supply of energy in the world and the process that began with the Arab Spring and then what is happening now have had some impact on concerns regarding energy. Many sectors do not like instability but the energy sector is perhaps one that does not like instability at all and this is the energy sector is important and there's a lot of international capital in it so that there is instability in the region is a major problem for the energy sector. That's why it's important to have peace and we try to ensure that there is peace and stability in the region and it's very important to work on energy projects in order to alleviate some of the concerns regarding instability. I mean let's start with a general view with a general perspective. So my co-panelists have talked about the supply side. I'm going to touch on something else about energy on this region. If we look at the projections from the International Energy Agency or any other projections, this region is increasing its consumption of energy by very large numbers and it's extremely important for this region to rationalize the use of energy. If we look today at the subsidy level in the energy sector, there are sometimes absurd. If we look at the use of oil for power plants, this is also a waste of a natural resource because there are other resources that are one cleaner and second thing cheaper to do the same thing which is to generate electricity. So in the MENA region, while it's very rich in terms of resources, it also has to go into a courageous plan in terms of rationalization of the use and the subsidies. If I look at the situation in Tunisia, since the beginning of the year, we have undergone a very strong plan in terms of rationalization both in terms of internal consumption of households as well as industries. So this plan is already bringing some significant results and we want to continue this way. We all know that the subsidies today, really if we go to the low income or the middle income, these are not the ones that are benefiting the most. The ones that have the higher income are benefiting one. So there needs to be a very strong push for rationalizing this very precious resource. Mr. Jaafar. Sorry. It's the same. We started with a general perspective and comments. Let's continue your views. I think the relevant challenges for the global industry and also for the region that we sit at the heart of have been well summarized on the supply side and on the demand side. So the key question is what are the obstacles? Why isn't it happening? And I think in many parts of this region we see, I mean region in the widest sense also looking west to Europe and looking east to the Middle East and Central Asia, we see that policy and politics sometimes is an obstacle to the rational economic development that needs to happen in the energy sector. In my part of the world, in the Arab world we've been operating as a private oil and gas company now for over 40 years in the Middle East. And the word in Arabic for policy and politics is the same. So we're doubly confused on that sometimes. So you have, as the minister said, 65% of the world's resources there and 65% of the world's demand there. But there are a lot of borders. There's a lot of politics. There's a lot of history. And there are some regulatory issues. And I need to enhance the role of the private sector in my view. Turkey, apart from being a big and growing market which will double again in the next decade as it meets its growth goals, has the potential in my view not just to be a transit country but to be a hub. And I think the difference is like with the train stations. One is where the train is stopping. The other is when many trains are coming from different directions and that's a different role and a much more important role potentially. Already there's big supplies, particularly from gas. There's, you know, from Iran, from Russia, from Azerbaijan. Potential supply is also to come from Iraq, particularly the Kurdistan region which may have two, three trillion cubic meters of gas. We ourselves are the biggest investors there. We've invested $1.2 billion. We're the biggest gas producers there. So the idea of Turkey bringing in gas supplies from many different countries and actually going one step further and setting the price here in Turkey for real markets, pipeline markets, you need a price point. The United States has what's called Henry Hub which is in Louisiana. And all the price in the United States is determined as a difference from that point. Europe has the Zeebrugge in Belgium which again, European gas is priced off that. Part of the problem in the Middle East we don't have a transparent pricing mechanism. So these big important gas deals get held up because of politics and because of negotiations on price and arbitrations and so on. So Turkey by being both a big market and potentially a big hub for gas could end up being that price point and that could really enhance bringing on much more supplies from Middle East resources which could not only meet the Turkish needs but going on to meet European needs as well. Let's ask to the minister. What do you think, minister about Mr. Jaffers? Well indeed, I agree with him. One of Turkey's goals is to consider the fact that the amount of oil and natural gas that Turkey is using is more than maybe 15 countries combined. So the scales in Turkey are much larger and Turkey itself is a very attractive market. But you mentioned a very important point. National politics and governments which sign these agreements on the one hand try to protect the rights of their citizens to get their votes in the elections and on the other hand they also have to protect the interests of international capital that comes to their countries. You need to have a very good optimization of this relationship because on the one hand the investors should receive some profit maybe not too very much that they take it away from the country but then again they should not be making little profit either. So you have to strike a fine balance here and Turkey thankfully has achieved this. There is also gas in the eastern Mediterranean and if political considerations can be resolved then economic considerations can become very important. And the issues in Cyprus have to be resolved for that and if sanctions on Iran are lifted then natural gas can flow from Iran then we are also working on the TANAP project and we broke ground 10 days ago for projects in the Caspian. We're also working with Russia on other projects so in fact we have a lot of work on our plate. And there's no reason why Turkey can't be an energy hub where prices are determined because Turkey is stable. It has stable policies and Turkey has the capacity to be a price point and with the most recent developments in Northern Iraq with developments there involving ISIL it's very important that the issues there are addressed and the situation in Iraq is normalized. So far the Kharkiv-Germatolog pipeline has a capacity of one and a half million barrels a day. This is actually a bigger capacity than the Baku Tbilisi Jehan pipeline because Baku Tbilisi Jehan has 50 million and the Kharkiv-Germatolog line is working with 70 million capacity but in Iraq we are restricted to what is being produced and so there has to be more production in Iraq so that that can be transported and then we can carry this trade through Jehan to the rest of the world. And these are all very important things and Turkey can do a lot because it's a stable country and when Turkey maintains its political stability then it contributes greatly to regional stability and we'll continue to do that. That in order to Turkey become a hub in the region the main obstacle is what's going on in Iraq and in Syria. Can we conclude that? Indeed, this has been a significant hindrance because we have some goals and we have some performance evaluations and the instability in that region is very important to us because let's say you have instability for six months, the impact is not for six months long it's for much longer. You feel the impact for much longer. With the crisis in Ukraine the permission is given to South Stream and the fact that the Bulgarian government is not allowing South Stream these will all have an impact on the role that Turkey can play. Political instabilities are threats and countries ought to be trying to resolve these threats without trying to gain only for themselves. Crude oil and natural gas are very important inputs and many people unfortunately believe that they are reasons for war and for Turkey energy is always a means for peace and this is how we view our activities with regard to energy. We see sometimes energy being a burden on international politics or international politics being a burden on energy but we hope that a fine balance will be struck in this relationship and in this respect Turkey's position hasn't changed. We would like to see the problems resolved. Iran's gas being transported the transport we also would like to see more natural resources from Iraq being transported to the rest of the world and in Syria too it's important that Syria is part of a stable outlook and Turkey is not only a transit country as was just mentioned Turkey has goals to become an energy hub. Mr. Birol would you like to tell us also of course it's affecting very much very closely Turkey but what's the instability and very unfortunate events in neighbouring countries in Iraq and Syria how it has, what kind of effects it has on the global markets? Now first of all generally we always say that about two thirds of the global oil and gas reserves in this region which is very good but this oil and gas is under the ground. In order to bring this oil and gas from under the ground to the pump station, to the power plants you need to make investments and as Mr. Yildiz rightly said if the investors are scared, if they're uncertain about the stability of the region they do not go and put their money. These geopolitical events in the region issue of ISIS, what's happening in Libya they scare the investors and my main worry is not for today only but in the next few years because if there is no investment made now and if the production doesn't go up while the energy demand growing very strongly in Asia and elsewhere who is going to meet that demand growth if there is no investment in the Middle East because of these geopolitical events? The main worry is the unfortunate meeting of geopolitics keeping the investment down and growing needs for energy in Asia and my main worry. But you're experiencing the same case in Tunisia because your neighbour Libya is facing serious problems too so would you like to share your comments with us? So in terms of Libya we have had hundreds of thousands of refugees from Libya the number almost reached 2 million people at some point which for Tunisia which is 11 million people is quite a huge number it represents 20% of the population that has been added up within a very short period of time so we have started to see the beginning of a democratic process in Libya with the latest elections we hope that the Libyans can agree that this is a basis for getting back together today the Libyan situation could have a spillover throughout the whole region especially to the south and this is creating significant issues so where do we go from there? I think that if we go back to the theme that you were talking about today if we compare the US and Europe the growth rate of the US has been partly enabled by the cheap gas prices today the Henry Hub prices could be one third of the European prices so if a Europe had the possibility of getting gas at lower prices and how do they get them? One is through their own production we see that through the studies that have done there is a significant potential in Europe from unconventional resources somehow the development has been very slow and because politics and sometimes emotional rather than rational basis has been used for talking about share gas some countries have banned the development of share gas we think that the work that the International Energy Agency has done in terms of defining those golden rules for unconventional development are a very good starting point and we hope that people can agree that these are necessary and sufficient conditions for sustainable development of these resources that we have below the ground Mr. Jaffar, you have a great experience actually in Iraq as you mentioned so one of the recent most interesting and most inspiring energy projects is between Turkey and the Iraqi Kurdish region's government so would you like to share with us although there are all these instability in the region how do you see the future of those projects why it's important to the region and how you benefit other countries from the Gulf region from those kinds of projects? Sure, well Iraq is a very important major resource holder the last big untapped resource holder of oil and gas resources less than few thousand wells have ever been drilled in Iraq's history compared to like ten times as many in Saudi Arabia or a million wells just in Texas in the United States so it's really at the beginning of the development and has the potential of supplying Asia, Turkey and on to Europe the issue in Iraq and Fatah based on projections is that a significant proportion up to 40% of new export capacity worldwide is going to be coming from or should be coming let's say from Iraq the challenges as Minister Benesar said our region is the issues are not below the ground the issues are above the ground and the United States their issues are below the ground and they've tackled them with technology but above the ground they have great liquid markets stability, finance, service companies and so the Middle East has been seeing falling production while North America has been seeing rising the proportion from the Middle East in many ways now for Iraq a lot of the focus of course on the conflict, on the political issues sectarianism and instability but for the oil and gas sector there are some more fundamental issues about agreement on policy national policy, unified policy passing the necessary legislation the oil investment law but also the revenue sharing law that ensures that everybody in the country gets the proportion based on their population not based on where the oil and gas is so in this way the constitution of Iraq wants the oil to be a unifying oil and gas to be a unifying force of the country not one that causes conflict unfortunately there has been a lot of politics between the central government and the regional government in the Kurdistan region and a lot of the constitutional provisions haven't been implemented yet with the new government now it's stated as a priority that this legislation will be passed a new mechanism for sharing the revenues which is very important to encourage the investment from all the oil and gas companies such as ourselves in terms of the international trade it's going to be very important both for Turkey and Iraq the Kurdistan region, the central government and other markets like Europe the key in our view is to remove the politics from the equation because if such a trade a long-term trade requiring a lot of investment is dependent upon Arab Kurdish politics or Kurdish Turkish politics it's not going to be successful or sustainable in our view and having the government as Deputy Prime Minister Babashan said as the regulator overseeing but having private sector to private sector on both sides of the border actually carrying out the investment and the trade the government's role as the regulator not just in that but in any cross-border trade that's going to achieve not only the sustainability but the respect for the constitution because at the end of the day the Iraqi constitution clearly states that international agreements are the purview of the federal government but if the private sector is involved in export then that is okay providing that there's the right regulation the right transparency on the revenues so that everybody knows where the revenues are collected how much is collected where it goes and how it's shared and that will avoid any potential constitutional legal or political issues and ensure that the trade is sustainable over the long term Mr. Yildiz would you like to go into details about Iraqi Kurdish oil now naturally this bit is crucial energy prices are always as to be cheap are always considered cheap by the producers and too expensive by the consumers this is a paradox and if governments don't handle the issue properly then the acceptance of investors becomes questionable that is why in the beginning I said the governments need to strike a delicate balance a balance where the governments still protect its people but also satisfy international investors an optimal point so to say unfortunately I must admit that the prior government lacked a system with the new government in place in Iraq we're hoping that this system will be settled it seems they're preparing the infrastructure and my initial talks with the Iraqi government are quite positive Turkey has agreements with Baghdad it also has certain contracts with Arbil and although it's under private law private companies or public companies can sign contracts and have signed contracts with Arbil that natural gas that oil belongs to Iraq it's not Turkey's oil that is why the internal regulation of the system in Iraq will be crucial it must be up to the Iraqi people to define how that should be settled Turkey only made sure this system was built we believe that Iraq will normalize to the extent that revenues will normalize some people say are you intervening in Iraq's internal affairs by no means it's definitely not our intention to do so but we have a neighbor a brother whose instability has direct impact on you that means their stability is also in our interest both for Iraq and Syria but we'd like to see more stable countries in our neighborhood because this is going to make life easier both for Turkey and for the region about 10 days ago there was a groundbreaking ceremony in Baku it's actually one of the chains a chain of four exploration of the Caspian Sea resources transmission via Azerbaijan via Georgia to Tanap Turkey and the route up to Switzerland via Greece the top bit of it $45 billion is the value of this chain in total which means the stability in all these countries is of crucial importance to all of us therefore governments and all the structures they develop for projects they must become internally accountable for all these projects Mr Babacan touched upon a very important point he said governments should be regulatory bodies that they should play the role of a regulator especially countries which are liberalizing must make sure their states become regulatory bodies for instance in Turkey its electricity its transmission has been liberalized natural gas except for Istanbul liberalized and most production companies have been liberalized or are about to be liberalized all these policies are crucial for developing markets like Turkey in fact it's a reconciliation with the developed world with the global markets four years ago Turkey had predicted a structure which is becoming real now because it's that structure which it's this structure Turkey foresaw that is sustainable the structure four years ago was unsustainable clearly Turkey has to make use of its strategic geostrategic importance and contribute to stability in the region because it's particularly important we need to see energy items as a pathway to peace and although not all projects have been completed in the EU Turkey is becoming a solution to EU's natural gas problem it is going to develop projects which will continue to contribute to EU's energy problem as an island of stability we'd like to see more stability in the region there is an obvious rapprochement between the western world and Iran how do you see the new future how P5 plus one nuclear negotiations are at a critical stage what are your expectations Iran is one of the major oil and gas countries of the world in terms of oil in terms of gas Iran can make a major contribution not only in the region but for the entire world but today Iran has serious problems with the international community with respect to nuclear if this problem cannot be solved I am afraid Iran will not be able to increase production in a significant manner why? very simple Iranian oil fields are difficult fields so you need a sophisticated technology and the money capital to go in but the current sections current sanctions do pose an obstacle there but if the sanctions are lifted as you suggest if there is an agreement between international community and Iran we may well see in a few years of time Iran to be once again a major oil and natural gas producer making positive contribution to the markets and here once again as Mr. Yildiz said it is very important Turkey is in this region and provides a stable export route for this very country but the key issue is not the availability of oil and gas resources in Iran which are huge which are very rich the key issue is to have a solution for the nuclear issue for Iran Mr. Ben Nasser any comment on that? Iran's position? so if we look at this situation in Iran I fully agree with Dr. Biroh that the complexity in Iran is both on the ground above the ground and below the ground because the fields in Iran have generally complexity through litologies that are more difficult so things have to go hand in hand one is progress in the negotiations that are ongoing but also the use of technology that would enable the unlocking of these resources below the ground and this technology would have to come today from outside of Iran it can go through either partnerships with oil and gas companies or also and with service companies that provide those technologies Mr. Jafar yeah I think Iran has huge oil and gas resources BP statistical review this year says that actually probably has more gas than even Russia the challenge even I think after the sanctions are lifted will be how to get the investment today oil is $100 or just below and there are competing demands for investment from international oil companies North America has opened up and so on the challenge in Iran is that the constitution prohibits private investment in the way that the sector knows it worldwide so you can only have service type contracts with limited profit potential on the oil price exposure and some years ago 20 years ago oil was cheaper and Iran was able to encourage investment and get the production up to 4 million barrels a day as Fatah Bey said 20 years is a long time and there is real need for massive investment and technology and even if the sanctions are lifted it won't be an immediate you know suddenly millions of barrels coming onto the market the way some media are presenting it it will take time and they are already trying to change the contract model to encourage investment but they do have this constitutional provision which is perhaps limiting that Mexico incidentally looking at the side of our region had the same provision and they removed it in last December because they can see what's happened in the United States and in the Gulf of Mexico all the investment has been on the American side so they changed their constitution to open up to private sector investment but Iran like many other countries in the region still has a state model with a national oil company and that may be a limiting factor in encouraging enough investment in a short time. Yildiz we have a kind of love and hate relationship with Iran in regards to well politics I mean they have a different standing about Syria and Iraq and we have a different one so how does this affect our energy relations with Iran and what's your perspective for the short term relations in regards of energy projects sometimes I tend to think that we need to isolate politics from the energy sector and structure for instance we might not think alike when it comes to Syria with Russia or we might not see eye to eye with Iran when it comes to Iraq or Syria but Iran is a state and so is Turkey sometimes you come across such projects with such a huge potential you need to understand opting for one project does not mean you will completely exit the other project Turkey has projects with Russia and Iran and Turkey has always managed to keep them separate because the institutional memory of both countries are strong enough to find new ways both the Russian Federation and Iran are polite enough and so is Turkey to have these gentlemen's agreements we have on Thursday a meeting in Moscow where we will be talking about mutual interdependencies and I'm not talking about unilateral dependencies Russia is going to invest 22 billion dollars in Turkey and it also has an energy input to Turkey that's equal to the same amount in Iran there are 120 items if the sanctions are lifted Iran will be able to supply a lot of these 120 items it's even currently the second largest natural gas supplier to Turkey Turkey is Iran's largest export market therefore with its market and with its liberal structure Turkey is actually acting as as the most attractive hub we're not getting any any oil or natural gas for free we supply it from 13 different countries according to contracts this means all the differences in international politics can actually be balanced in fact we use it as an argument to balance and counterbalance political differences there are three pillars with three institutional structures and I think we have the capacity to overcome differences Russia is actually going through a map change after the Second World War do you believe that Russia is still a viable energy partner both for Europe and Turkey Russia will remain the cornerstone of the global energy system for many years to come so we may like it some of us don't like it but the reality is Russia will be a major oil producer gas producer coal hydropower everything a major energy country this is the reality of life one second however in the current situation with the sanctions over Russia it may well have implications for the Russian energy oil and gas which is the bulk of Russian economy so if as a result of these sanctions oil and gas production if they are negatively affected from the sanctions as a result of lack of technology access lack of capital access we may well see this to have significant implications for the Russian economy which relies on the energy revenues energy income for the country but these are issues for a few years when we look at the long term in strategic perspective once again Russia will remain the cornerstone of the global energy markets for many years to come okay so far we talk about oil and gas and geopolitical problems in the region let's talk about alternative energies this is something which is very very important for the whole world but also for the region Minister Ben Nasser would you like to tell us a little bit about your country what are the investment facilities or possibilities potentials in your country Tunisia so if we look at the cost of generating energy from renewable sources we have seen very nice developments the cost of generation from solar photovoltaic over the last five years has gone significantly down so this is opening up a whole set of opportunities for countries in this area that are rich in terms of solar and also wind energy so we are using that in Tunisia we have just passed last week a whole package of laws related to the rational development of renewable energy this has been adopted by the National Assembly with an overwhelming majority this shows that there is a very strong interest we are doing it obviously with all the transparency rules of the new constitution of Tunisia and this is an encouragement for investors to look at renewable in Tunisia as being both a way of producing internally but also exporting a renewable to markets around us and we are thinking about having a high voltage DC lines going to Italy this would be complementing the grid so it's a whole new area we hope that with this new law that has been passed on renewable in Tunisia since we are talking about the unlocking resources in the region what's your comment about renewable energy and new potentials I think it's an important part of the mix and the transition is a gradual one but oil and gas will continue to be 80% plus of the world's renewable energy needs fossil fuels overall for decades to come I think the key in terms of policy what does everybody need everybody needs to see security of supply absolutely low cost and balancing that with environmental considerations but I think you do need that balance I think Europe through DICTAT tried to go straight for renewables in many countries and the US has been able to make subsidies by the consumers and not only has it driven the cost up they are now importing coal and the emissions are going up I think the US has shown by shift from coal to gas and opening up to the private sector they've achieved those three core objectives here in Turkey further deregulating the market in terms of supply in the upstream which was a goal could help bring in more players and reduce energy costs the gas prices here now are probably a few dollars higher than Europe whereas they could be a few dollars lower when you consider proximity to the supplier looking to the Middle East region where the resources are the big problem again is the policy to encourage the investment and minister Beneser mentioned subsidies and that's not only huge destruction of value half the world's energy subsidies are in the Middle East a quarter of a trillion dollars a year of value is destroyed both from the producers and from the big consumer countries and that makes it difficult to set the right regulations to encourage investment to really develop the huge oil and gas potential resources which are there and still below the ground as Fatih Bey said and the price point is an important factor there in gas so I again think that Turkey could help unlocking all those if it ends up setting the price point then suddenly investors countries it becomes much easier it doesn't become an issue of politics it becomes a price, the pipeline the cost that starts to bring on more production the way it has in more mature markets such as the United States or now Europe thank you as a last question Minister Yildiz we know that the government wants to invest in nuclear energy nuclear power plants ahead also solar energy and wind energy are on the table but what else? I was just reading an interesting report recently that software and data can be a good source for energy because it can help to reduce energy costs and this is a new area to see potential or to invest for stakeholders is there any projects in front of you on your table other than conventional or conventional renewable energy plants yes maybe I should just add one thing to the previous question families corporations countries unless they manage to increase their revenues they must decrease their expenses if they can do so they'll balance out whether you invest in nuclear or in renewables oil and gas no matter where your energy comes from you must invest into energy productivity and in fact you actually make all these different energy sources your own sources Turkey pays 7 Turkey has a margin to save 7 billion dollars every year I'm saying this because by investing into renewables in the past 3 years and just by investing into wind Turkey has managed to import 1 billion dollars less in natural gas in solar energy as my colleague said material science is improving CAPEX there is going down which means the probability of investments goes up countries become more attractive there are 442 nuclear plants in the world and in 32 different countries half of the nuclear plants are in the US France and Japan I'd like to say that you can't have a shrinking energy sector in a country which is growing you can't lag behind in nuclear energy if you're growing Turkey needs to obtain energy from the nuclear field but by bringing in more energy via the nuclear plants we will be able to diversify we will also diversify by making better use of local hydrocarbon imported hydrocarbon renewables in that sense we will be able to differentiate and diversify our resources this is the correct policy this is the sustainable policy and if you take a look at EU members they actually we actually have more energy from renewables than the 28 countries average so we're doing very well in terms of renewable but our geographic location permits us to do even better whether in transmission in distribution or in production we need to become more productive we need to facilitate the life of subscribers we need to take the necessary measures which will increase our savings and IT will aid us in implementing the most optimum means with its new structure Turkey will try to make the best use of all these opportunities the International Energy Agency Mr. Birol they have drafted a very interesting report if I'm not mistaken 37.4 trillion dollars are foreseen to get 60% of the world's needs via renewing existing systems when we came to power a certain switch was perhaps 20 years now it's 32 years we didn't need to invest in the past but we have to invest now you need to renew your grid you need to renew your system so we need to understand that the energy sector has to grow in fact in Turkey it's growing faster than the Turkish economy just last year in installed capacity Turkish installed capacity grew by 11.4% economic growth was 4% that is to say supply of energy is outgrowing Turkish economy the main reason behind this is that per capita income in Turkey is increasing prosperity in the country is increasing and when prosperity increases energy comes along it has to come along we have to grow even more quickly both for Turkey and for the region we're going to be very keen on new projects I'm sure that we have many other questions to address but unfortunately Minister Tanayildes has an important appointment so he has to leave so I have to wrap up this session thank you very much Mr. Minister thank you very much for being with us Fatih Pirol, thank you very much thank you Mr. Jafar thank you very much again and thank you all to be with us to join us at this session our session ends here we looked at the situation in the world and the situation in Turkey see you in our next session good evening


The NYC 2023 Batch B Stream 1 applied to Delta State having sworn in with a call to uphold the unity of Nigeria through this service. A correspondent who was at the Orientation Camp in Selleoka reports that Governor Sharif O'Barrevary declined, the Orientation course opened. The call members, while taking the oath of allegiance, were advised to abide by the rules of the scheme and the NYC coordinator, Alawu Lushago, praised the readiness of the Batch to serve their fatherland. These young men and women are first adjusted to comply while exhibiting great sense of discipline, dedication and responsibility. The Delta State governor, who was represented by his chief policy advisor, arched them to imbibe the virtues of humility, discipline, sacrifice and dedication. You have the determination and aspiration to contribute beautifully in the movement of Delta State and indeed Nigeria. It is therefore important that you apply yourselves fully to the physical, psychological and cultural training which will be subjected to during the three weeks of the Orientation Program. The call member. Hello. Hope you enjoyed the news. Please do subscribe to our YouTube channel and don't forget to hit the notification button so you get notified about fresh news updates.


Hello Bill and everybody watching from Brooklyn and all over the world. This is Womboy. We are recording at the African Nouveau Festival in Nairobi where we're celebrating African music, African food and African culture. Now, what's amazing is 60% of all the energy that is being used here is coming from solar energy. Now, you see how they say that we have to be dependent on fossil fuels? Wrong. If we are able to get rid of fossil fuels, 60% of it in this festival for two whole nights, then so can you. Everybody from all over the world. It's very simple.  We can do it. Back to you Bill.