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  • #1,521
  • Jun 9, 2015 4:19pm Jun 9, 2015 4:19pm
It was a strong move up today, 63-63.40 is a strong resistance area so i might consider TP somewhere around that, even though crude can go to 70$ a barrel easily in my view of course (which is more fundamental than technical)
  • #1,522
  • Jun 9, 2015 4:57pm Jun 9, 2015 4:57pm
"Meanwhile China has seen its oil imports seesaw back and forth in recent months. In April, China imported a record 7.37 million barrels per day, but that figure was slashed by nearly a quarter the following month. In May, China only imported 5.47 million barrels per day, as an unusually large volume of refining capacity was offline for maintenance.

The oil markets can deal with an off month, but there are growing signs that China may not live up to its hype as an insatiable consumer of petroleum products. Tepid economic growth is cutting into demand growth scenarios for Chinese oil consumption, a worrying sign for those that are long on oil prices. Softer Chinese demand in the months ahead will mean there will be a whole lot more oil sloshing around than there otherwise would have been, potentially prolonging the period of weak oil prices."
  • #1,523
  • Jun 9, 2015 5:14pm Jun 9, 2015 5:14pm
I actually thought that crude will not smell 60 before 55 but I was wrong. Still bearish because of all the fundys swirling around in my head but from where is the question
If you think you can or cannot do it you are correct
  • #1,524
  • Jun 10, 2015 1:07am Jun 10, 2015 1:07am
I hate to call it market manipulation but I don't see why oil should be this strong at the moment based on fundementals and other visible market information on oil. I also actually thought we would see lower 50's first before a try up. This is confusing me since fundementals say there is no reason it should be pushing up.
  • #1,525
  • Jun 10, 2015 3:11am Jun 10, 2015 3:11am
Quoting kweiss10
I hate to call it market manipulation but I don't see why oil should be this strong at the moment based on fundementals and other visible market information on oil. I also actually thought we would see lower 50's first before a try up. This is confusing me since fundementals say there is no reason it should be pushing up.
Here you go, prices may be about to turn down.
http://www.reuters.com/article/2015/...0OQ09O20150610
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #1,526
  • Jun 10, 2015 3:30am Jun 10, 2015 3:30am
Quoting Exodus
{quote} Here you go, prices may be about to turn down. http://www.reuters.com/article/2015/...0OQ09O20150610
Thank you!
  • #1,527
  • Jun 10, 2015 3:54am Jun 10, 2015 3:54am
Here at last week's top is a good level to try short for those who are eager to sell, i closed one of my last weeks longs here, with the other one i will wait for 63$
  • #1,528
  • Jun 10, 2015 6:29am Jun 10, 2015 6:29am
I just hope everyone is watching trading with tight sl.
This chart looks to be taking off very very soon.
Wooooohooooo or Boooooohooooo
  • #1,529
  • Jun 10, 2015 7:02am Jun 10, 2015 7:02am
Quoting kweiss10
I hate to call it market manipulation but I don't see why oil should be this strong at the moment based on fundementals and ....
Call it whatever you like but price is going to do what it is going to do whether your or mine or the next guy's idea of what the fundamentals or technical say it should.

That's why it is called trading and not free money.

Markets mostly move on perception. What the consensus believes the facts (fundies or techs or both) are.
  • #1,530
  • Jun 10, 2015 7:45am Jun 10, 2015 7:45am
Quoting SunTrader
{quote} Call it whatever you like but price is going to do what it is going to do whether your or mine or the next guy's idea of what the fundamentals or technical say it should. That's why it is called trading and not free money. Markets mostly move on perception. What the consensus believes the facts (fundies or techs or both) are.
exactly my point as to why I do not like to cry out manipulation since markets will do what they feels like but will usually base itself on (like you said) things like perception. My perception is that prices should be lower since fundemantally there is more supply than demand. This is however where I don't get the markets perception of things.
  • #1,531
  • Jun 10, 2015 8:13am Jun 10, 2015 8:13am
....read the Reuters article at the link I posted earlier...
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #1,532
  • Jun 10, 2015 8:44am Jun 10, 2015 8:44am
Quoting Exodus
....read the Reuters article at the link I posted earlier...
thanks Exodus. I did read it. Is your perception that there is a bearish chance in this move?
  • #1,533
  • Jun 10, 2015 10:42am Jun 10, 2015 10:42am
Quoting kweiss10
{quote} thanks Exodus. I did read it. Is your perception that there is a bearish chance in this move?
Some hints in the article suggest that pricing is recovering.
Also there has been a large reduction in rig-count, and today's figures on crude storage show a notable draw down.

....but there was this snippet
Quote
Canada's oil exports to the United States suffered their biggest monthly decline on record this spring due to maintenance on big oil sands projects as well as forest fires that slashed a tenth of Alberta's total oil production.

....and this snippet
Quote
North Dakota's Department of Mineral Resources will release figures for April production on Friday. The No. 2 oil-producing state posted a surprising jump in oil output in March.
The Energy Information Administration estimates that Bakken output was little changed from a record high 1.3 million bpd in March, but expects it to fall by 70,000 bpd over the following three months

...and this snippet
Quote
It is unclear how long the strength may last. Canadian production is already recovering and Midwest refinery runs REFCR-2-EIA have fallen for the past three weeks.

...all of which made me think production will recover/increase in the near term, and the Canadian forest fires will be extinguished at some point - although I don't know how long that may take. Which made me think prices will come under pressure again. I'm open to arguments to the contrary.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #1,534
  • Jun 10, 2015 10:48am Jun 10, 2015 10:48am
Canadian tar sands oil have a price disadvantage working against them - more costly to refine. They need higher prices otherwise not many takers.
  • #1,535
  • Jun 11, 2015 7:23am Jun 11, 2015 7:23am
Been bullish on crude for a while but havent made a penny here recently aynway. Full of surprises these days.
  • #1,536
  • Jun 11, 2015 9:55am Jun 11, 2015 9:55am
Ok we got stopped at 62$ so i closed my longs and i am trying a short from 61$ with target around 59$
  • #1,537
  • Jun 12, 2015 10:02pm Jun 12, 2015 10:02pm
There's more to this complex wave iv correction than it seems.
A potential expanded flat correction is still developing, before resuming uptrend.
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Elliott Wave for optimum entry, exit and risk management of trades
  • #1,538
  • Jun 14, 2015 11:12pm Jun 14, 2015 11:12pm
Seems Legit to me
I'll short oils with SL above 62
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Forex as Leverage
  • #1,539
  • Jun 15, 2015 4:01am Jun 15, 2015 4:01am
Playing breakouts can be high reward which means it can also mean high risk.
  • #1,540
  • Jun 15, 2015 4:20am Jun 15, 2015 4:20am
ngas can react on russian rates

http://economictimes.indiatimes.com/.../47673330.cms?
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