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Sweet, sweet Oil

  • #321
  • Jan 3, 2010 10:43am Jan 3, 2010 10:43am
45 pips make no great difference. You may consider one single point in between as resistance and look for a support a bit lower.
My levels are: res: 79.74; supp: 77.04


Quoting kelly
According to ACMs news the most important support is found at 78.90, while the next resistance is found at 79.35 dollars.
Do you agree?
Patience is magic
  • #322
  • Jan 7, 2010 7:00am Jan 7, 2010 7:00am
YEs i expect a new lifetime high in 2010 hence 100$ shud be coming by may-july
My Email id is in my profile
  • #323
  • Jan 11, 2010 2:25am Jan 11, 2010 2:25am
time to start building shorts?? any sugestions somebody?
Pation is the Holy Grail
  • #324
  • Jan 11, 2010 2:32am Jan 11, 2010 2:32am
Ty si ale dobry chlape, posledny post bol v tejto diskusii v 2007 roku ... No mozno to ozije :-)
  • #325
  • Jan 11, 2010 2:33am Jan 11, 2010 2:33am
mna *ebe ten eur/usd ... som short
  • #326
  • Jan 11, 2010 2:36am Jan 11, 2010 2:36am
Quoting maran83
Ty si ale dobry chlape, posledny post bol v tejto diskusii v 2007 roku ... No mozno to ozije :-)
jojo.. co myslis o rope?
Pation is the Holy Grail
  • #327
  • Jan 11, 2010 2:37am Jan 11, 2010 2:37am
netusim :-(
  • #328
  • Jan 11, 2010 2:40am Jan 11, 2010 2:40am
hallo,can you speak english please?... i trade oil. also natural gas.
  • #329
  • Jan 11, 2010 2:48am Jan 11, 2010 2:48am
oil,and also gold will go up.
  • #330
  • Jan 11, 2010 3:42am Jan 11, 2010 3:42am
chart and report from ECPULSE

Crude continues pushing to the upside, according to our suggested scenario in our previous reports, where it is attempting to reach the main target for the resistance level's ascending channel at $88.40 per barrel. Meanwhile, momentum indicators are showing clear overbought signs that might cause some mixed trades, which could lean towards achieving some minor bearish correction to rid of these signs for the bullish technical pattern formation that are near completion. The overall bullish direction for this week requires the daily close to remain above 80.45.
The trading range for today is among the key support at 78.45 and the key resistance at 88.40.

The general trend is to the upside as far as 47.20 remains intact with targets at 85.00.



Support82.8082.0081.2080.8579.90
Resistance84.5085.3585.8086.8587.50
RecommendationBased on the charts and explanations above our opinion is buying oil from 82.80 targeting 85.35 and stop loss below 81.20, might be appropriate.
Attached Image (click to enlarge)
Click to Enlarge Name: oil11_01_2010.GIF Size: 16 KB
  • #331
  • Jan 11, 2010 5:21am Jan 11, 2010 5:21am
do you think oil could range back to 81??
Pation is the Holy Grail
  • #332
  • Jan 11, 2010 9:21am Jan 11, 2010 9:21am
buy Crude with sl of 81.20 tgt 84.10-86$
  • #333
  • Jan 11, 2010 9:59am Jan 11, 2010 9:59am
Quoting CzechTrade
do you think oil could range back to 81??
pitty I asked instead of making call
Pation is the Holy Grail
  • #334
  • Jan 11, 2010 2:20pm Jan 11, 2010 2:20pm
as you can see,oil is under 81 right now. ...what is next? is good to buy,or going down more?....
  • #335
  • Jan 11, 2010 6:02pm Jan 11, 2010 6:02pm
Quoting geocatalinfx
as you can see,oil is under 81 right now. ...what is next? is good to buy,or going down more?....
i would be careful with buying after such a sell off.. i think price could go even lower and go back under 80.. if so i think 79.80-79.70 would be a good area to buy for like 40 pips
Pation is the Holy Grail
  • #336
  • Jan 12, 2010 4:29pm Jan 12, 2010 4:29pm
From a fundamental point, oil is still way to cheap.

The world has probably hit it's peak production of cheap crude, the difference will have to be made up by more expensive things like oil from tar sands, bio-fuel and possibly converting coal to oil in the future.

I think there could well be an energy crisis in the not to distant future if we don't get more alternatives to cheap oil soon.
  • #337
  • Jan 13, 2010 1:36am Jan 13, 2010 1:36am
The crisis is not yet over. The demand for oil is going to fall
  • #338
  • Jan 13, 2010 7:00am Jan 13, 2010 7:00am
Quoting Davidee
From a fundamental point, oil is still way to cheap.

The world has probably hit it's peak production of cheap crude, the difference will have to be made up by more expensive things like oil from tar sands, bio-fuel and possibly converting coal to oil in the future.

I think there could well be an energy crisis in the not to distant future if we don't get more alternatives to cheap oil soon.
i disagree. the world hasn't hit its peak production of cheap crude, not just yet anyway.

as for energy crisis, no way. necessity is the mother of invention.
  • #339
  • Jan 13, 2010 10:28am Jan 13, 2010 10:28am
I think that oil prices will continue upwards for the next few months. I believe that, as some of you have already said, inflation and politics will drive this beast. With this epic stimulus the United States just received, we are long over-due for a dose of inflation. Inflation will cause the dollar to lose value meaning more dollars will be required to purchase things based on dollar-denominated items.

I'm bullish on oil until the Federal Reserve takes concrete actions to stem the coming inflation storm.

What do you guys think?
  • #340
  • Jan 14, 2010 2:37am Jan 14, 2010 2:37am
Quoting Hadrys
Hi, as here can't see a lot of interest fell free to skype or PM me. We can also continue here.

As to the charts, today nice action, this brake of the channel was good, but getting back inside it after todays news could lead us now to some serious up in following days. Maybe it'll brake monthly down trendline for good?

My TP for today is 71.20, we'll see, either way ~100pips profit locked. I don't like keeping my positions overnight, simply looking for a good entry point during the day to catch the biggest ride.

Are you full-time trader?
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