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  • #10,361
  • Apr 13, 2022 12:51am Apr 13, 2022 12:51am
Quoting Temujin
{quote} I bought a $93.40 strike for a bounce.
Well done with that one, thought mebbe could have failed @ retrace to 96/7, never say die with WTI so it seems.: )

Quoting Kwame Freder
bulls seem to be determined to break resistance. as i type seems definitive. my guess would be 105 first target
Like to see it break above 103/50, but yes.

Attached Image (click to enlarge)
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"Don't Shoot Me I'm Only the Piano Player"
  • #10,362
  • Edited 6:22am Apr 13, 2022 3:14am | Edited 6:22am
Quoting Temujin
{quote} Interesting, Can also use USD/CAD as an inverse indicator. Thanks for the chart.
I think it can be done using reversed USD/CAD or Canadian Dollar Futures
  • #10,363
  • Apr 13, 2022 9:45am Apr 13, 2022 9:45am
Big surplus! Was this priced in already, how the price will react?

Attached Image (click to enlarge)
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  • #10,364
  • Apr 13, 2022 9:52am Apr 13, 2022 9:52am
Small movement showing on 15min chart. Chart is not showing signs to go lower.
Attached Image (click to enlarge)
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  • #10,365
  • Apr 13, 2022 9:54am Apr 13, 2022 9:54am
Quoting Jolita
Small movement showing on 15min chart. Chart is not showing signs to go lower. {image}
Unreal! I have never, ever seen a build-up in Crude Oil this Gigantic.

Good news for the whole world but not for Vladimir Putin. Pulling the rug out from under one of the last revenue juggernauts for Russia.
Be humble or be humbled.
  • #10,366
  • Apr 13, 2022 9:59am Apr 13, 2022 9:59am
Quoting Temujin
{quote} Unreal! I have never, ever seen a build-up in Crude Oil this Gigantic.
I can't see any tumbling, do you?

https://www.energyexch.com/news/1150...de-build-in-13
  • #10,367
  • Apr 13, 2022 10:03am Apr 13, 2022 10:03am
Quoting Jolita
{quote} I can't see any tumbling, do you? https://www.energyexch.com/news/1150...de-build-in-13
I've seen this before, banks and hedge funds scheming and then suddenly it happens; WOOSH!! Just sells off so fast. Not with oil but with the FOREX market, next day.
Be humble or be humbled.
  • #10,368
  • Apr 13, 2022 10:38am Apr 13, 2022 10:38am
tough resistance @ 102 area on my chart. let's see if it holds.
  • #10,369
  • Apr 13, 2022 11:09am Apr 13, 2022 11:09am
Quoting Kwame Freder
tough resistance @ 102 area on my chart. let's see if it holds.
Sitting at daily resistance atm, possible to try previous high ~10480 then 112.
Attached Image (click to enlarge)
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  • #10,370
  • Apr 13, 2022 4:39pm Apr 13, 2022 4:39pm
Quoting Jolita
{quote} Sitting at daily resistance atm, possible to try previous high ~10480 then 112. {image}
broke through, now wondering how high they will take this. 108/9 could be in the cards.
  • #10,371
  • Apr 13, 2022 4:43pm Apr 13, 2022 4:43pm
Quoting Kwame Freder
{quote} broke through, now wondering how high they will take this. 108/9 could be in the cards.
Very interesting, a couple million barrel build and they sell it off in an instant but 9 million plus and it rises? Oh btw, the IAE came out with a statement today also; no more deficits in inventory. Fundamentals are so much against oil this high. Simply a technical bounce off of the 200 Day MA.
Be humble or be humbled.
  • #10,372
  • Apr 13, 2022 4:57pm Apr 13, 2022 4:57pm
Quoting Temujin
{quote} Very interesting, a couple million barrel build and they sell it off in an instant but 9 million plus and it rises? Oh btw, the IAE came out with a statement today also; no more deficits in inventory. Fundamentals are so much against oil this high. Simply a technical bounce off of the 200 Day MA.
You are right, but also the opposite happen only to take sl's.
I also think during short move, $93 was achieved, further price drop was rejected, bulls took control.
We need higher up for stronger dive. Or... the opposite of course, none said is easy.
  • #10,373
  • Apr 13, 2022 5:02pm Apr 13, 2022 5:02pm
Quoting Kwame Freder
{quote} broke through, now wondering how high they will take this. 108/9 could be in the cards.
We should shortly return to ~98¬99
  • #10,374
  • Apr 13, 2022 6:32pm Apr 13, 2022 6:32pm
Quoting Jolita
{quote} We should shortly return to ~98¬99
Haha! The financial media is trying spin this as demand returning and prices good around $100. HAHA!! Complete and utter B.S. It will be just another thing people will spend LESS on and NOT more.
When you have record inflation and food prices demand destruction begins as the consumer cuts back on spending. Driving to work and driving straight home.
Cancelling expensive flights and doing StayCations not Vacations. High oil is also enemy #1 of company profits due to transport and fuel costs. It is also an enemy of governments because people get PISSED. The IAE and U.S. gov will not fail in shoving prices back down.

When we start seeing no draw downs on inventory and build-ups week after week you will see the power of the The Fed, US Gov and IEA against these hedge funds very soon.
Be humble or be humbled.
  • #10,375
  • Edited 8:58pm Apr 13, 2022 8:13pm | Edited 8:58pm
Quoting Kwame Freder
bulls seem to be determined to break resistance. as i type seems definitive. my guess would be 105 first target
Quoting yani38
{quote} Like to see it break above 103/50, but yes. {image}
Worked to plan, and well done KF.

https://www.energyexch.com/news/1150...ons-market-for
https://www.energyexch.com/news/1150...nue-to-recover


Attached Image (click to enlarge)
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"Don't Shoot Me I'm Only the Piano Player"
  • #10,376
  • Apr 14, 2022 5:23am Apr 14, 2022 5:23am
Quoting yani38
{quote} {quote} Worked to plan, and well done KF. https://www.energyexch.com/news/1150...ons-market-for https://www.energyexch.com/news/1150...nue-to-recover {image}
Here comes the drop. Bought the 2X Short ETF ticker SCO before the close yesterday.
Be humble or be humbled.
  • #10,377
  • Apr 14, 2022 1:32pm Apr 14, 2022 1:32pm
just got a 15 minute hard rejection. may have reached the top for today/week. let's see if a retest holds.
  • #10,378
  • Apr 14, 2022 2:15pm Apr 14, 2022 2:15pm
Quoting Kwame Freder
just got a 15 minute hard rejection. may have reached the top for today/week. let's see if a retest holds.
Seems like bulls are easing, long weekend, Easter bank holidays.

Daily pivot 10250
Weekly pivot 98.45

Attached Image (click to enlarge)
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  • #10,379
  • Apr 14, 2022 2:46pm Apr 14, 2022 2:46pm
Quoting Jolita
{quote} Seems like bulls are easing, long weekend, Easter bank holidays. Daily pivot 10250 Weekly pivot 98.45 {image}
Wow, just woke up and saw $106. So glad I got out earlier. Have no idea what is going on. Have a great weekend all.
Be humble or be humbled.
  • #10,380
  • Apr 16, 2022 8:07am Apr 16, 2022 8:07am
Long to short ratio change on net-lenght positions - 1.35 : 1. Slightly more buying contracts.

Sharing:
Money managers increased their net-length in WTI crude oil futures and options by 1,748 contracts to 254,869 in the week ending April 12
Long-only positions rose by 6,711
Short-only positions rose by 4,963
other reportables net-length fell by 7,897

Happy Easter
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