Oil and Natural Gas

New high point @ 53.3 and double downed @ 51 expecting less of a bounce, SL hit which rarely happens for me recently…No way could i buy this market with confidence…

Sell Oil Brent at 58.01 target 57.65

UPDATE 2-OPEC's no-cut strategy is not working, Iran says

http://www.cnbc.com/id/102573505

Sell Oil Brent at 58.92 target 57.65

Don't have time to post the full article, but here is part along with one of the myths that is important:

Top 12 media myths on crude prices

Futures Magazine
By Dan Doyle


The upstream crude oil and gas industry is not a black hole. There's no mystery wrapped in an enigma here.

There are a lot of meetings with engineers, chemists and geologists. There's a constantly evolving learning curve. And then there's all the regulations and compliance. But all-in-all it's pretty straight forward, that is, until the media gets a hold of it. That's when it becomes complicated. It's as though we are getting reports from the mysteries of the deep ocean or life in the great galaxies beyond. There is so much hyperbole and unsupported guesswork that investors don't have a chance. So, in a small effort to set the record straight, let's see if we can't dispel some of the misinformation.

...

Misperception #6
We are running out of storage space for crude. We're not. We're going to be OK. Volumes have increased, especially at the oft mentioned Cushing, but Cushing accounts for only about 10% of US storage. Other storage areas are up but nowhere near as much. The reason is that physical traders like to park their inventory close to market and Cushing gives them that proximity. Also, Cushing is not a dead end. There are large pipelines that connect it to the Gulf Coast where storage is more plentiful and not nearly as full. Additionally, large inventory draws will be coming shortly with the advent of warmer weather.

2Close at 58.23 +70Delete target

Good article 👍

1# Close 58.00 +1

Delete Target

+41+70+1 = 112pips

enought for today I am done

,
I'm waiting for 50.50 on crude...

Made good profits today on Crude.

I think the outlook is very bullish for crude.

the rig counts continued to decline and if this continue will affect the production

http://www.zerohedge.com/news/2015-0...re-accelerates

http://www.ogj.com/articles/2015/04/...ince-2009.html

Only 4 ~ 5 weeks to go until US storage capacity is full. If price goes up we need another major disruption of some kind - such as war in the Falklands.

From an article I partially posted last week:

Misperception #6
We are running out of storage space for crude. We're not. We're going to be OK. Volumes have increased, especially at the oft mentioned Cushing, but Cushing accounts for only about 10% of US storage. Other storage areas are up but nowhere near as much. The reason is that physical traders like to park their inventory close to market and Cushing gives them that proximity. Also, Cushing is not a dead end. There are large pipelines that connect it to the Gulf Coast where storage is more plentiful and not nearly as full. Additionally, large inventory draws will be coming shortly with the advent of warmer weather.

Price is very slow to move today. Where are all the traders at!

USOil setting up for the downside:
https://www.tradingview.com/v/XKcHwtRr/

looking to short today

dont see any reason to fight this trend yet

H4 correlation bet. USDCAD & USOil.

do you think nat gas will follow oil pattern? I was in hope to see natgas at 2.20 but looks like 3.20$ come first. thanks,