Oil and Natural Gas

usually if folks start talking like "it will go down much more" it should stabilize or bounce at least....

Based upon your inner voice? This is far from over

well below

65-60 range possible this week!! All middle east bourses are down!!

Drop you peace of sh[t

usoil current 64.88

I so hope this passes 50 and touches 40

oil being dumped like it has no value anymore.

I know, cant wait to follow it back up either

whats ur targets entry?

technical analysis shows long distance bet pivot @69.7 and first support @62.00 ?? what this mean ?
still down trend or become weak
??!!

short opportunity at the moment?

forex11, kweiss10 and DaTokyoHustl

do you traders follow Technical or fundamental?
if technical then post a chart
if you don't know how just ask

btw thanks for posting in the last weeks

G

I am a fundie and follow momentum. I highly respect those who use charts.

Oil is almost exclusively effected fundamentally.

I have a bottom at $60, and buying from $70 down. I'm projecting out into next year though.

If you aren't a short term trader (as most of you are)- it would benefit you to look at oil like you do fruit. When you see fruit at the store on sale, you buy it because it's a good deal, not because of the position it is in on the shelf.

South America cant pay the bills with oil this low (as they've publicly stated going into the OPEC meeting)
Russia cant pay the bills with oil under $70
China is increasing reserves at this price (they've increased 8% already- roughly 30 days reserves....looking for 100 days reserves by 2020)

USA is largely causing the drop in oil due to their shell oil boom- which is awfully convenient considering we want Russia to go broke. The question will be whether Russia or the Middle East blinks first as far as 1. lowering production (middle east) or 2. backing out of Ukraine (russia)....either will shoot oil back up- which everyone needs.

Also, oil is blatantly ignoring the risk of middle east conflict <insert whichever conflict you'd like here>

What was the fundamental factor that just pushed it up 500 pips?

Japan were downgraded by Moody's and that's when the mess began everywhere. Lucky for me, I was short USDJPY. I was tempted to buy gold but my performance has been very poor in it lately so I let it go.

No Fundamental factor, it was profit taking and SL hunting

UJ is still in range and good US news today may bring it back up again.

I personally not looking to trade oil at the moment. I made some good money from shorting Brent from 78 to 72. I am not sure the selling is over yet. I am on the fence at the moment.

I bet the big boys realised the sell off after OPEC news was released was for nothing. So now they are buying up again.