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Oil and Natural Gas

  • #3,101
  • Nov 17, 2017 6:04pm Nov 17, 2017 6:04pm
WTI 1 Month 30 minutes
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  • #3,102
  • Nov 17, 2017 6:29pm Nov 17, 2017 6:29pm
Food for Thoughts
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  • #3,103
  • Nov 17, 2017 7:34pm Nov 17, 2017 7:34pm
In other words you wanna say than we not gonna go higher for now, most likely correction 3-5 $ in the next 20 days. if yes im agree.
  • #3,104
  • Edited 1:37am Nov 18, 2017 1:18am | Edited 1:37am
I see a possibility for a serious downward correction in two ways:
1) opening with a gap down below the 54.75 support and bouncing down from it. This is possible but the gaps of 2 dollars are very uncommon. Also, price finished at the top of the day/close to top of the week, so if any gap occurs, I'd rather be betting on a gap up above the resistance 57.562.
2) not breaking the resistance at 57.562 early next week, but rather dragging on below it. In that case I'd expect the bounce from 57.562 downwards late next week (Thursday, NY). Still, this push up seems quite healthy as far as I can see. The Friday volume indicates some selling at tops (could be just taking profits?), but not enough to revert the price movement just yet imho...
If my estimates are close to truth, the top (~60) should be reached in ~10 days or so.

Cheers,
k
  • #3,105
  • Nov 20, 2017 8:57am Nov 20, 2017 8:57am
Quoting kprsa
My current view on oil. So far looks very bullish , bears look overcome for the moment. The price will most likely break the resistance at 57.562 which should then turn into support. I intend to buy any bounces upward from it next week aiming at 59.946. I'll keep my eyes on the chart for the test of 57.562 particularly next Thursday late NY session. Cheers, k {image}
There is a view that shale production will turn 'up' as price gets close to $60, so let's see if that clamps the price.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #3,106
  • Nov 22, 2017 2:30am Nov 22, 2017 2:30am
Quoting kprsa
I'll keep my eyes on the chart for the test of 57.562 particularly next Thursday late NY session. Cheers, k {image}
Due to Thanksgiving holiday in the US, note that the trading hours are reduced on Thursday and Friday.
Also my time estimate of the bounce from 57.546 (WTICOUSD) shifts to early Friday before London open.


Cheers,
k
  • #3,107
  • Edited 3:26am Nov 24, 2017 3:08am | Edited 3:26am
Quoting kprsa
{quote} Due to Thanksgiving holiday in the US, note that the trading hours are reduced on Thursday and Friday. Also my time estimate of the bounce from 57.546 (WTICOUSD) shifts to early Friday before London open. Cheers, k
Didn’t happen. There was a bounce yesterday, but I don’t think that was necessarily all. I think if the current maximum (58.499 at WTICOUSD Oanda feed) holds, there may be another bounce up on Monday around London open (edit or Tuesday NY session. If the current top significantly breaks (which may literally happen any moment now), I think we go straight to 60.
Cheers,
k
  • #3,108
  • Nov 24, 2017 4:22am Nov 24, 2017 4:22am
extreme levels commercials and open interest
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  • #3,109
  • Nov 24, 2017 9:15am Nov 24, 2017 9:15am
I will sell in 59.50-60 region, there should be at least some retracement to 58
  • #3,110
  • Nov 25, 2017 6:15pm Nov 25, 2017 6:15pm
Quoting pipatronic
extreme levels commercials and open interest {image}
Where is this data coming from? CME? My expectation is correction that possibly may start on Tuesday 28 or next one 5 December. The target zone is 52-51.
  • #3,111
  • Nov 26, 2017 10:21am Nov 26, 2017 10:21am
Quoting mihrutkanik
{quote} Where is this data coming from? CME? My expectation is correction that possibly may start on Tuesday 28 or next one 5 December. The target zone is 52-51.
https://www.barchart.com/futures/quo...eractive-chart
  • #3,112
  • Nov 26, 2017 10:28am Nov 26, 2017 10:28am
Yes mihrutkanik agree, I am looking at the weekly chart around may 2015 for resistance, plus we have an extreme level for the commercials in cot data though the weather could affect price should it get really cold, interesting time/price we are at.
  • #3,113
  • Nov 27, 2017 2:03am Nov 27, 2017 2:03am
article on oil
http://www.forexlive.com/news/!/opec...18-00-20171127
  • #3,114
  • Nov 27, 2017 2:33am Nov 27, 2017 2:33am
and another
https://www.reuters.com/article/us-g...-idUSKBN1DR02C
  • #3,115
  • Nov 27, 2017 9:11am Nov 27, 2017 9:11am
Quoting kprsa
{quote} Didn’t happen. There was a bounce yesterday, but I don’t think that was necessarily all. I think if the current maximum (58.499 at WTICOUSD Oanda feed) holds, there may be another bounce up on Monday
Bought.
k
  • #3,116
  • Edited 5:52am Nov 28, 2017 3:25am | Edited 5:52am
Quoting kprsa
{quote} Bought. k
Dangerous position: A lot of downward pressure. Looks like the bulls are slowly starting to lose the battle. I'd like to see 60 being reached in the last push up and then would be looking for shorts.
Cheers,
k

Edit: options as far as I can see them.

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edit: s/o with my trade, waiting for another bounce.
  • #3,117
  • Nov 28, 2017 11:02am Nov 28, 2017 11:02am
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  • #3,118
  • Nov 29, 2017 5:36pm Nov 29, 2017 5:36pm
The situation is totally unclear for me. Im watching different sources of quotes from CME, from other open sources from my broker and all of them have different candles. Maybe we will see another local low, because that last candle looks quite weak. Today is the last day of the month and bears may try to make a doji. My last thought is weekly time frame, where we can see upward triangle, if so we will see skyrocketing movement at the end. Too many possibilities.
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  • #3,119
  • Nov 30, 2017 12:57am Nov 30, 2017 12:57am
for me this is no mans land, retrace or downtrend so at the moment I am out otherwise I see it as a flip of a coin until I can see direction
watching volume, weather, news, storage
daily charts second chart NYMEX
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  • #3,120
  • Nov 30, 2017 1:00am Nov 30, 2017 1:00am
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