Think oil could bouce back
- #1,064
- Mar 6, 2015 11:58am Mar 6, 2015 11:58am
- | Joined Nov 2014 | Status: Trader | 1,140 Posts
{quote} It's all part of a manipulation game to make you think that and go long crude, then they'll pull the rug from underneath it. It's being supported right now, artificially, just wait till they stop supporting it and see how fast it will fall. And it's better to short WTI.
Have a nice weekend ppl
- #1,065
- Mar 6, 2015 12:03pm Mar 6, 2015 12:03pm
- | Commercial User | Joined Oct 2012 | 3,968 Posts
{quote} For me its pure logic. Oil went down from $107 to $43 in six months. Hot times is over but some people shockingly expect $10-20 crude i have to ask them what they have been drinking because ill try it and have fun too. New lows should appear but bottom between max 30-40 imo. Some even talk about the oil era is done, that is even funnier. Base a desicion on hybrid cars and stuff and forget about increasing aircrafts, space travel, sea travel, military vehicles and so on. Oil is just as important as always. Have a nice weekend ppl
- #1,066
- Mar 6, 2015 12:17pm Mar 6, 2015 12:17pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
Another minor bull trap just completed. I think this time its really resuming down trend to find new low.
Elliott Wave for optimum entry, exit and risk management of trades
- #1,067
- Mar 6, 2015 3:15pm Mar 6, 2015 3:15pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
{quote} For me its pure logic. Oil went down from $107 to $43 in six months. Hot times is over but some people shockingly expect $10-20 crude i have to ask them what they have been drinking because ill try it and have fun too. New lows should appear but bottom between max 30-40 imo. Some even talk about the oil era is done, that is even funnier. Base a desicion on hybrid cars and stuff and forget about increasing aircrafts, space travel, sea travel, military vehicles and so on. Oil is just as important as always. Have a nice weekend ppl
"Can't go any lower". Oh of course not. Never. I heard $55 support like it was some magic bottom. Then $50 gave way. And $45.
I don't know if we have a bottom in place or if not how much lower it can go.
But ... it can always go lower. Lower than what the majority thinks. Which is why it does - sometimes.
Another minor bull trap just completed. I think this time its really resuming down trend to find new low. {image}
- #1,070
- Mar 7, 2015 5:03am Mar 7, 2015 5:03am
- | Joined Nov 2014 | Status: Trader | 1,140 Posts
{quote} Some thought the same thing after crude broke $100, then $90, then $80 etc etc. "Can't go any lower". Oh of course not. Never. I heard $55 support like it was some magic bottom. Then $50 gave way. And $45. I don't know if we have a bottom in place or if not how much lower it can go. But ... it can always go lower. Lower than what the majority thinks. Which is why it does - sometimes.
Hi Suntrader, sure this can drop more but i believe not much. When i was short this many others were long back in 2014 and their excuses were wars and riots in ME. Cheap speculation is one thing i stay away from. What makes me more nervous about this is that everyone one is talking about lower prices today just as they did talk of higher in 2014. I would rather look for good buy areas from now on and leave the speculation to others. Oil is not so predictable using fundamentals as people think. And i don't think US is interested in much lower crude prices either. Imagine what happens if/when dollar and oil jump at the same time. Just think of how badly the world is going to need both dollars and oil. This is called a petro-dollar operation and some need this combination very badly to recover their rotten and unproductive economy. I am even switching away from usd/cad due to this chance. Oil dependent countries can be hurt very badly, no war is needed producers and countries can even do this artificially as they already pump too much.
ps hate to read & write long msgs like this but couldn't put it down any other way
- #1,071
- Mar 7, 2015 5:13am Mar 7, 2015 5:13am
- | Membership Revoked | Joined May 2008 | 3,395 Posts
The Market pays you to be disciplined
- #1,072
- Mar 7, 2015 9:49am Mar 7, 2015 9:49am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
{quote} Hi Suntrader, sure this can drop more but i believe not much. When i was short this many others were long back in 2014 and their excuses were wars and riots in ME. Cheap speculation is one thing i stay away from. What makes me more nervous about this is that everyone one is talking about lower prices today just as they did talk of higher in 2014. I would rather look for good buy areas from now on and leave the speculation to others. Oil is not so predictable using fundamentals as people think. And i don't think US is interested in much lower...
But just think - you are nervous many are talking about lower prices and at the same time many countries, including the U.S., do not want to see lower prices. Something has to give. No country including this one can "control" markets for very long - up or down. Supply and demand wins out. And right now there is too much f'ng supply.
- #1,074
- Mar 9, 2015 10:47am Mar 9, 2015 10:47am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #1,078
- Mar 10, 2015 8:05am Mar 10, 2015 8:05am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
{quote} USD fallout? On USD chart where is sign of falling out?
Yup.Can a market "fallout" higher?
- #1,079
- Mar 10, 2015 9:33am Mar 10, 2015 9:33am
- Joined Feb 2011 | Status: Trader | 1,825 Posts
current situation make me create new tamplate
