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  • #10,901
  • May 8, 2023 1:33am May 8, 2023 1:33am
#CRUDEOIL / H4
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  • #10,902
  • May 8, 2023 5:13am May 8, 2023 5:13am
We are back to the middle of the descending chanel.
Above 73.40 towards 83.
We also overbought and NY could retest the lows of 64.
Last position closed.
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  • #10,903
  • May 14, 2023 8:58am May 14, 2023 8:58am
Quoting Jolita
We are back to the middle of the descending chanel. Above 73.40 towards 83. We also overbought and NY could retest the lows of 64. Last position closed.{image}
$64 is coming back but will be a month to see it.
Be humble or be humbled.
  • #10,904
  • May 14, 2023 4:59pm May 14, 2023 4:59pm
Quoting Temujin
{quote} $64 is coming back but will be a month to see it.
Still in bearish zone, below 71.55 selling to 68.75 and retest 66 - 64.
  • #10,905
  • May 19, 2023 4:27am May 19, 2023 4:27am
I'm seeing something different now. We are flattening out on the W1 chart and supported on the D1. We are moving back up to $76.
Be humble or be humbled.
  • #10,906
  • May 28, 2023 2:37pm May 28, 2023 2:37pm
Opec meeting in a week or so. Driving season coming up. Big draw down last week. Fundamentals are looing ok.
Be humble or be humbled.
  • #10,907
  • May 30, 2023 5:14am May 30, 2023 5:14am
A temporary pop but now looks to go to $65 when SPX implodes in a couple weeks.
Be humble or be humbled.
  • #10,908
  • May 30, 2023 7:00pm May 30, 2023 7:00pm
Resistance held so far,
below 73.60 towards 64.00,
above 73.60 - to 83.00

In my view price might attempt to revisit circa $64. 00 - $60.00 support / lower chanel.

Weekly chart
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  • #10,909
  • May 31, 2023 3:02am May 31, 2023 3:02am
Quoting Jolita
Resistance held so far, below 73.60 towards 64.00, above 73.60 - to 83.00 In my view price might attempt to revisit circa $64. 00 - $60.00 support / lower chanel. Weekly chart {image}
Could test the 200 Week MA at $65. We need to see a rotation of money back into the energy sector in June. The inventories have been good but hedge funds are betting against crude oil.
Be humble or be humbled.
  • #10,910
  • May 31, 2023 7:35am May 31, 2023 7:35am
Quoting Temujin
{quote} Could test the 200 Week MA at $65. We need to see a rotation of money back into the energy sector in June. The inventories have been good but hedge funds are betting against crude oil.
No, weekly chart below all.
We are attempting to take monthly EMA 200 63.48, while monthly EMA100 68.07 a history.

Oil price is controlled, pushed lower if not, world economies will collapse (already near the cliff).
  • #10,911
  • Jun 2, 2023 1:49pm Jun 2, 2023 1:49pm
OPEC+ meeting over the weekend. If they can't make money then supply will eventually be constrained to stabilize the prices. Rig count is falling.
Be humble or be humbled.
  • #10,912
  • Edited Jun 5, 2023 2:28pm Jun 4, 2023 6:49pm | Edited Jun 5, 2023 2:28pm
Quoting Temujin
OPEC+ meeting over the weekend. If they can't make money then supply will eventually be constrained to stabilize the prices. Rig count is falling.
Gap up refill in play
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Edit: Gap is closed.
  • #10,913
  • Jun 5, 2023 11:14pm Jun 5, 2023 11:14pm
Quoting Jolita
{quote} Gap up refill in play{image} Edit: Gap is closed.
All the cuts will do is put a floor under the pricing, mabe $70?
Be humble or be humbled.
  • #10,914
  • Jun 5, 2023 11:37pm Jun 5, 2023 11:37pm
I wouldnt fall for this oil cut bullcrap by the saudis

I didnt fall for it back in april when they cut the last time and wheres that got them LOLOLOL

i market the day with a blue trendline that day after the announcement cause they made it on the weekend and price is 10 dollars a barrel lower and going lower still

this cut will ensure a drop to 60 at minimum...dont get fooled by convention wisdom LOL

i'll short oil at and above 75
https://apnews.com/article/saudi-oil...2a6cd66a9fffea
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short trump and go long the deepstate
  • #10,915
  • Edited Jun 6, 2023 12:00am Jun 5, 2023 11:47pm | Edited Jun 6, 2023 12:00am
youll never go broke fading the news LOL


love it that my system beat the saudis...hope they cut back even more production then we'll see 66 in a week or two otherwise price will gyrate and thrash around for a month before nailing the march lows ...im still short gold but thats more stubborn than oil about gettin down to the saudi announcement


i posted that april 26th in the crude oil thread....the most money i ever made in oil was shorting it after that suadi cut LOL....its all in that thread if anyone wants to review

this time will be the same thing
short trump and go long the deepstate
  • #10,916
  • Jun 6, 2023 2:41pm Jun 6, 2023 2:41pm
Quoting Temujin
{quote} All the cuts will do is put a floor under the pricing, mabe $70?
Hi Temujin, hope all is well and thanks for the opinions shared, appreciate.

The cuts can also be interpreted as a low demand (which we know is not, just cooling).Summer contracts will ease tension. I wil buy second half of Aug.
Any hint on US bank interest rate hike - lowers oil price, strong dollar weak oil, and visa versa.
Also, have you seen any news on auction re: Fed oil purchase contract?
Interesting which company was appointed.
  • #10,917
  • Jun 8, 2023 4:47am Jun 8, 2023 4:47am
Thanks! Haven't seen that news yet. Yes, I think heading lower again once the SP500 cracks and sells off very soon.
Be humble or be humbled.
  • #10,918
  • Jun 8, 2023 10:56am Jun 8, 2023 10:56am
Quoting Zebi
I wouldnt fall for this oil cut bullcrap by the saudis I didnt fall for it back in april when they cut the last time and wheres that got them LOLOLOL i market the day with a blue trendline that day after the announcement cause they made it on the weekend and price is 10 dollars a barrel lower and going lower still this cut will ensure a drop to 60 at minimum...dont get fooled by convention wisdom LOL i'll short oil at and above 75 https://apnews.com/article/saudi-oil...2a6cd66a9fffea {image}
lol
  • #10,919
  • Jun 8, 2023 11:00am Jun 8, 2023 11:00am
price didnt get to 75 so have had to chase shorts....hope the saudis keep cutting production even more so we see 50 dollar oil LOL
short trump and go long the deepstate
  • #10,920
  • Jun 8, 2023 11:03am Jun 8, 2023 11:03am
i abhor fundamentals but the russians selling oil real cheap and china and many other muslim stan countries buying it so when the saudis cut it doesnt mean much since they only selling to half the world thats aligned with usa...hope they keep cutting cause want gasoline to be back at 2 dollars a gallon LOL
short trump and go long the deepstate
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