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Oil and Natural Gas

  • #1,441
  • Jun 1, 2015 10:04am Jun 1, 2015 10:04am
As I mentioned before oil price 48 is bottom.

Weekly analysis and monthly analysis shown uptrend for oil.

Support now at 61 and 52.

However if price break the resistance at 68, we will see oil will test next resistance at 88.
  • #1,442
  • Jun 1, 2015 10:47am Jun 1, 2015 10:47am
then to where the oil price ??
  • #1,443
  • Jun 1, 2015 11:58am Jun 1, 2015 11:58am
Quoting SunTrader
{quote} Its not what anyone of us believes. It's what the overall market consensus is at any point in time. Isn't the price lower than a year ago. What really changed? Supply/Demand? Or was it just the consensus? Belief is a powerful thing. And I for one believe price trend sideways for the foreseeable future - a year or two. With tradable moves in between.
I don't know but to me it looks like big oil companies are already busy expanding, and we have major issues in Spain, Italy and Greece which all are gates to energy from African and ME, and i don't even need to mention the situation in Africa or ME atm. We should also not forget the tension between Europe and Russia which could get far worse, right now they are only fighting about Ukraine but the fight could spread to great parts of Eastern Europe.
  • #1,444
  • Jun 1, 2015 12:37pm Jun 1, 2015 12:37pm
No outright rocket, my crude guess
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  • #1,445
  • Jun 1, 2015 12:55pm Jun 1, 2015 12:55pm
Quoting alayinizAMK
No outright rocket, my crude guess {image}
I want the same for NG please...
  • #1,446
  • Jun 1, 2015 1:23pm Jun 1, 2015 1:23pm
Quoting kweiss10
The price spike of Friday should be met with caution. Prices went up because 1) the media/news went on and on about strategic oil fields in Iraq under attack 2) a number of oil rigs in the US were reduced 3) investions and traders have twitchy fingers at the moment and are looking for any reason to pump prices up instead of bringing them down. Fact is though that global oil production output is at a very high. Iraqi oil production is at its highest since 1989. Russian output is highest since the fall of the soviet union. USA has lifted a 40 year...
interesting when did that happen
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #1,447
  • Jun 1, 2015 2:36pm Jun 1, 2015 2:36pm
Quoting alayinizAMK
No outright rocket, my crude guess {image}
Find out on Friday.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #1,448
  • Jun 1, 2015 3:57pm Jun 1, 2015 3:57pm
Quoting Exodus
{quote} Find out on Friday.
yes but i hate trading on Fridays and news

Quote
I want the same for NG please...
Hopefully, i will be looking for Russian interest rates, any cut will increase their domestic demand. Their last cut was more than expected and did make some impact along Ngas storage data.
  • #1,449
  • Jun 1, 2015 4:50pm Jun 1, 2015 4:50pm
What about a full body to 69?
It does make sense.
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90% of traders use TA, indicators and prediction
  • #1,450
  • Jun 1, 2015 4:55pm Jun 1, 2015 4:55pm
It's nice seeing a lot of traffic in here.

Wooooohooooo or Boooooohooooo
  • #1,451
  • Jun 1, 2015 5:10pm Jun 1, 2015 5:10pm
Set tp to 68
Let s see What happens.

Sl is 400$ in profits since i was long earlier 54 n 55 closed 61

You know the feeling.
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  • #1,452
  • Jun 1, 2015 5:11pm Jun 1, 2015 5:11pm
Quoting gnomoneey
It's nice seeing a lot of traffic in here.
Agreed
90% of traders use TA, indicators and prediction
  • #1,453
  • Jun 1, 2015 6:44pm Jun 1, 2015 6:44pm
Quoting alayinizAMK
No outright rocket, my crude guess {image}
5 waves up are following by ... 3 waves down, not up.
  • #1,454
  • Jun 1, 2015 11:28pm Jun 1, 2015 11:28pm

any suggestion please i am short in oil @59.49 ... it s better to close now and open long position??
thanks
  • #1,455
  • Jun 2, 2015 1:01am Jun 2, 2015 1:01am
Quoting forexer11
any suggestion please i am short in oil @59.49 ... it s better to close now and open long position?? thanks

As you can see someone is long someone is short.
Not really a good idea asking for advices in a forum... Only market will tell the answer!
90% of traders use TA, indicators and prediction
  • #1,456
  • Jun 2, 2015 2:20am Jun 2, 2015 2:20am
Quoting SunTrader
{quote} 5 waves up are following by ... 3 waves down, not up.
The A is my 3 wave down. Perfectionism is no good for a wave counter imo, i always look for ew guidelines which says e.g we will make a new high after a fifth wave failure
  • #1,457
  • Jun 2, 2015 3:15am Jun 2, 2015 3:15am
Quoting gnomoneey
It's nice seeing a lot of traffic in here.
This thread is the best in ff, im sure its popularity will increase along with the crude price

btw maybe a retest of 60.40-30 area soon.
  • #1,458
  • Jun 2, 2015 4:45am Jun 2, 2015 4:45am
Quoting alayinizAMK
{quote} This thread is the best in ff, im sure its popularity will increase along with the crude price btw maybe a retest of 60.40-30 area soon.
i am curious can u plz tell me how u expect this drop
can u plz post chart?
thanks
  • #1,459
  • Jun 2, 2015 7:10am Jun 2, 2015 7:10am
Quoting alayinizAMK
{quote} The A is my 3 wave down. Perfectionism is no good for a wave counter imo, i always look for ew guidelines which says e.g we will make a new high after a fifth wave failure
Then you are following your own rules.

An A wave can be 3 or 5 waves, true but it is followed by B and C in same direction. So if prior trend was 5 waves up, ABC goes down.
  • #1,460
  • Jun 2, 2015 7:37am Jun 2, 2015 7:37am
Quoting forexer11
{quote} i am curious can u plz tell me how u expect this drop can u plz post chart? thanks
sure np but im out already i shorted twice and im done today so i have no idea how long it will take to reach 60.40 if we ever do. I don't think the chart im working on is going to help you much, don't mind any of the lines that predict direction.
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