Trying to figure that out too. Kinda funny given it took place shortly after another "omg record US oil exploration" article.

One of the best threads on this forum! Cut losers short and let winners run...that's basically the key message. I partially disagree with the statement that entries aren't important. Well-timed entries can significantly decrease the size of your ...

The time to buy is when your 80 year old gran tells you to sell because "she heard it on the news"

I don't disagree with your fundamental analysis. All I'm saying is that until traders act on that info (which hasn't happened yet), it's kind of irrelevant for trading. Sure, fundamentally you can start thinking about longs...but technical analysis ...

You're all correct...but looking at charts it's pretty clear traders don't really seem to care (yet). Brent will reach 45 today...and if that breaks, it'll head to 40 rather sooner than later. Might stall a bit at 45 like it did at 50 late last ...

Not saying you're wrong, but all that really matters is how traders react to this and other info. Right now the bears still seem in the driver's seat while the bulls are passed out hungover on the backseat. Hardly any end of day profit taking ...

Nooooooosedive Entered a 2nd leg today just below 50...hoping for a push towards 40-45.

Why would they? They make money whenever you trade, so it's in their best interest to keep you profitable and trading for as long as possible. Making you lose on purpose is counter-productive!

Couldn't agree more. Too early to talk about upside targets imo...too many uncertainties. IF I had to guess, I'd say $70-80 (maybe $90) for brent is probably more realistic in the medium term than figures like $140.

Not convinced 50 brent is really the turning point. On the H1 we saw rejection of the 50 level (first circled wick), then a small bounce and a good break of 50. Just before market close, price tried to rally up a bit again but got rejected (2nd ...

Thank you so much, great links. I'm in the same boat...labouring away on Python for 4-5 weeks now. I have some HTML/CSS/PHP knowledge, but even without it, I have to admit I'm liking Python a lot. It's actually readable compared to a lot of the ...