Sweet, sweet Oil

Same as gold.. the volume went up abou 800% on 1/1/2012 from 2011's highs

The price of the crude oil keeps falling and the weekly charts shows the bear-flag pattern above the support of the 200 SMA around 81. The oil broke this patten but still has not completed the break-down and in order to do so it will have to cross below the psychological support at 80.0. From my point of view, I think that despite the extreme overselling situation that the oil is in, it will break this support eventually and slide to 75.0 However, we will see bullish correction along the way so watch out…

may be down to 70

So what's the call now that we have seen the break up to 86? I would expect some sideways trading from 80-88. But as long as "good" news comes out of EU, 80 looks like a very solid level, maybe an anxious creep back into the high 90's?

it is simple just buy crude oil futures before any Chinese data

1- if it positive :

the crude oil futures prices will go up and you will see in the news

Crude oil higher after positive Chinese date


2- if the number is negative :

the same result crude oil pricrs will go up and you will see in the news titles like


Crude oil higher on stimulus hopes



3 - if the actual number is close to the to the forecast numbe again the same result :

Crude rises as Chinese growth figures meet expectations



so just buy crude oil before any Chinese data because this is what the big boys are doing

where are the crude oil traders???

still some of us out there my friend.

Just waiting for any sell off to exit before expiry tomorrow.

Egypt may escalate tomorrow (Friday) as it is the day they generally ramp up the craziness after praying for a few hours.

Hoping for no gap to get them back on come sunday.

So what is the theory behind trading the crude oil inventory numbers? The basis is that the higher the number is and more M of barrels in supply that the price of crude goes down and if there is a lower number than expected the price of crude goes up correct?

The price of oil is rapidly falling down, and this has a huge effect on the forex market.

RUB is strongly weakening with Oil (affect by political issues too)
NOK is also weakening (as Norway is a major exporter)

but what about other currencies?

Is AUD also declining due to the oil price?
What about CAD (Canada has strong oil production)?
Is there any currency gaining from the low price of oil (such as CHF and SGD)?

Cad should decline more against other currencies, right now major impact is against US$
Aussie is more gold, mineral/mining then oil. but the problems with China's output shrinking has hit it hard

ye its correct ... but sometime i think .. when lower number is expected ... like -2.8 M ... and - 0.8 M is released .. market still goes bull ... when number is expected -2.8 M and 1.4 M is result then its go down .. man its mystery to own these days .. better not trade them .. maybe after news ...

I'm unsure of what the difference is between these symbols in the attached image. There are 3 x Light Sweet Crude Oil and 2 x Brent Crude, all differing in price slightly.

These are future quotes. The 3rd letter represent the month.

oil futures are based on monthly contract, each month it will use different contract as different symbol.

Guys.. Crude oil to test lower on short term to 47 as the inventories will be out tomorrow and watch out for those numbers..
If the inventories go too high then watch it to go to 44 in short term.
There will be some resistance at price 44 as there will be profit booking at this point..

On a mid term it is expected to go all the way to 40 as it is the sentiment figure..

Eye on FOMC meetings to see possible rate hike hints which will fuel the flow..

Watch this space for more updates..

i believe it all boils down to the law of supply and demand.
basically, as oil stockpiles increases - oil prices edge lower, especially when fears of global oversupply arise
as oil stockpiles decreases - oil prices edge up;
but we also have to consider market demand, even if oil inventories are rising but there is a high demand, prices will be normalized

oh oil... volatility as its best form

I want to test a strategy out live with oil but I live in the USA.

Fxcm does not offer it and the only way I can see a way to trade oil directly is through binary options. Futures requires a margin account. Etf's my only logical option.