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Oil and Natural Gas

  • #1,741
  • Aug 21, 2015 7:45am Aug 21, 2015 7:45am
Brent has just hit a new low and seems to have some momentum. I think its a new low since March 2009​
  • #1,742
  • Aug 21, 2015 9:37am Aug 21, 2015 9:37am
$39 today? looks like the bears want to go there before market close
  • #1,743
  • Aug 22, 2015 11:02am Aug 22, 2015 11:02am
Quoting kweiss10
$39 today? looks like the bears want to go there before market close
done
  • #1,744
  • Aug 22, 2015 11:12am Aug 22, 2015 11:12am
Quoting kweiss10
{quote} done
On my chart oil just touched 40$ i don't know how it looks on yours.
By the way i entered long at 40 there should be some retracement for atleast a dollar from here, if not i placed SL near break even
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  • #1,745
  • Aug 22, 2015 11:59am Aug 22, 2015 11:59am
$39.875 was Friday's low

No should, will, or always - in trading.
  • #1,746
  • Aug 22, 2015 12:04pm Aug 22, 2015 12:04pm
Quoting atom3
{quote} On my chart oil just touched 40$ i don't know how it looks on yours. By the way i entered long at 40 there should be some retracement for atleast a dollar from here, if not i placed SL near break even {image}
My chart hit 39.87 on Friday.

It may retrace a bit but it is still strongly bearish. If iran sanctions are lifted soon, then more big bearish movement.
  • #1,747
  • Aug 24, 2015 12:21am Aug 24, 2015 12:21am
$40 taken out today and this week starts the new money options for oil which most likely means new lows for oil. Down on the first day of trading for monthly options.
  • #1,748
  • Aug 24, 2015 1:09am Aug 24, 2015 1:09am
Quoting atom3
{quote} On my chart oil just touched 40$ i don't know how it looks on yours. By the way i entered long at 40 there should be some retracement for atleast a dollar from here, if not i placed SL near break even {image}
My plan failed here, SL got hit during the night the momentum is strong downward so i will wait for opportunity, i kind of dont want to enter short now
  • #1,749
  • Edited 5:08am Aug 24, 2015 4:31am | Edited 5:08am
When the market does not want oil, it really does not want oil. Last bull trend lasted about 6 years from 2008 till mid 2014.

lets see how long this bear trend will last.
  • #1,750
  • Aug 24, 2015 5:55am Aug 24, 2015 5:55am
Quoting kweiss10
When the market does not want oil, it really does not want oil. Last bull trend lasted about 6 years from 2008 till mid 2014. lets see how long this bear trend will last.
But thats too general, i wouldn't say that all those years were a bull run most of it was ranging, and at this pace this bear run wont go for long because oil will start going for free soon but i still think that we wont go below 2008 bottom
  • #1,751
  • Aug 24, 2015 6:27am Aug 24, 2015 6:27am
Quoting atom3
{quote} But thats too general, i wouldn't say that all those years were a bull run most of it was ranging, and at this pace this bear run wont go for long because oil will start going for free soon but i still think that we wont go below 2008 bottom
yes true, it did take tim to build up the bull run from 2008 to 2014. This drop did come faster but I dont think there is a rule to how fast a bull or bear trend can be?
  • #1,752
  • Aug 24, 2015 8:57am Aug 24, 2015 8:57am
I have $33.20 as the bottom in Jan 2009. Not far away now, in fact we could be forming the shadows now.

However we just punched below $38 and I see no reason why any particular price will form strong support.

Some of the OPEC members are getting a bit twitchy ... maybe that will do it.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #1,753
  • Aug 24, 2015 9:02am Aug 24, 2015 9:02am
Quoting Exodus
I have $33.20 as the bottom in Jan 2009. Not far away now, in fact we could be forming the shadows now. However we just punched below $38 and I see no reason why any particular price will form strong support. Some of the OPEC members are getting a bit twitchy ... maybe that will do it.
We will see $33
  • #1,754
  • Aug 24, 2015 2:36pm Aug 24, 2015 2:36pm
Quoting kweiss10
When the market does not want oil, it really does not want oil. Last bull trend lasted about 6 years from 2008 till mid 2014. lets see how long this bear trend will last.
+ 1

Yup, don't fight the trend.

Can't be any more obvious than just looking :nerd: at a daily chart. Whole lotta red.
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  • #1,755
  • Aug 25, 2015 10:26am Aug 25, 2015 10:26am
IMO
USOIL , Weekly
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And falling's just another way to fly...
  • #1,756
  • Aug 25, 2015 11:14am Aug 25, 2015 11:14am
direction will be determined after news release tomorrow. I think people will realise that the china crash is a sort of recovery and will probally see that china will continue its production of goods anyway.

I am more worried about Iran bringing more oil out
  • #1,757
  • Aug 26, 2015 6:02am Aug 26, 2015 6:02am
Quoting kweiss10
direction will be determined after news release tomorrow. I think people will realise that the china crash is a sort of recovery and will probally see that china will continue its production of goods anyway. I am more worried about Iran bringing more oil out

for what its worth I'm still bearish, I'm expecting an increase in inventories and with the gasoline season at an end in the US the distilleries will decrease production for maintenance. That mixed with the Iran situation as you mentioned, I cant yet find enough reasons to change my outlook.
  • #1,758
  • Aug 26, 2015 6:40am Aug 26, 2015 6:40am
I think world stock markets control everything lately. If they continue down belief is the world economies will continue to slow down. And therefore oil demand will slow further more.
  • #1,759
  • Aug 26, 2015 3:31pm Aug 26, 2015 3:31pm
time to look out for ngas
  • #1,760
  • Aug 26, 2015 8:28pm Aug 26, 2015 8:28pm
Quoting alayinizAMK
time to look out for ngas
there's time for everything but now better to avoid energy things for a couple of month at least..., but, I'm in and out of oil daily as it's like yo-yo, easy to scalp...
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