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  • #1,781
  • Aug 28, 2015 7:28am Aug 28, 2015 7:28am
very tempting to short from this point. China's economy must have gotten better over night!
  • #1,782
  • Aug 28, 2015 10:26am Aug 28, 2015 10:26am
Quoting kweiss10
very tempting to short from this point. China's economy must have gotten better over night!
I have shorted and shorted and shorted ... And it is still bullish

But the 46 barrier will hold I think.
  • #1,783
  • Aug 28, 2015 10:54am Aug 28, 2015 10:54am
Quoting ash1485
{quote} I have shorted and shorted and shorted ... And it is still bullish But the 46 barrier will hold I think.
me too..., we should come back to 30+ or I'm really brainwashed..., it's not going to happen next week though..., patience...
  • #1,784
  • Aug 28, 2015 11:17am Aug 28, 2015 11:17am
months of bearish movement then in two days it retraces like hell.
  • #1,785
  • Aug 28, 2015 12:23pm Aug 28, 2015 12:23pm
i think bull trend started 2 days ago
anyway 47.2 is strong resistance
and 43.5 is good support
my charts weekly & daily
Attached Image(s) (click to enlarge)
Click to Enlarge Name: forexfactory USOILWeekly 2.png Size: 27 KB
Click to Enlarge Name: forexfactory USOILDaily 4.png Size: 38 KB
And falling's just another way to fly...
  • #1,786
  • Aug 28, 2015 2:18pm Aug 28, 2015 2:18pm
Knew October crude was going to be a mess. I wont be looking too much at physical supply in these circumstances. First will be looking at how dollar does next quarter and second will be following rate policies. Lower prices must appear fast if this trend is to continue, ngas still looks overpriced though imo.
  • #1,787
  • Aug 28, 2015 3:51pm Aug 28, 2015 3:51pm
Nothing more than a short covering rally that will most likely be short lived.

Although down today the Dollar is heading back up, which is usually bearish for commodities.
  • #1,788
  • Aug 29, 2015 7:01am Aug 29, 2015 7:01am
an article from Toronto star
http://m.thestar.com/#/article/news/...trade-off.html

Interesting info on not being able to shut off production. Is this why OPEC taking a stand.
Wooooohooooo or Boooooohooooo
  • #1,789
  • Aug 29, 2015 7:35am Aug 29, 2015 7:35am
Quoting SunTrader
Nothing more than a short covering rally that will most likely be short lived. Although down today the Dollar is heading back up, which is usually bearish for commodities.
Just a covering rally? Took a month to build this last decline and 35% is gone in two days (600 pips). Can imagine how it feels to be short on a fresh contract.
  • #1,790
  • Aug 29, 2015 8:31am Aug 29, 2015 8:31am
Quoting alayinizAMK
{quote} Just a covering rally? Took a month to build this last decline and 35% is gone in two days (600 pips). Can imagine how it feels to be short on a fresh contract.
Which is why I said what I said.

Short covering rallies are can be very vicious ... to those who don't cover quickly. Creates a panic - to the upside.
  • #1,791
  • Aug 31, 2015 6:49am Aug 31, 2015 6:49am
That's a very fast turnaround, rising from $43.85 to $45 and then back to $44 at US open. Was there a flush of WTI contracts that came onto the markets? Such volatility is usually seen around the inventory numbers announcement. Does anyone have an idea, just short covering and then panic selling?
  • #1,792
  • Aug 31, 2015 8:27am Aug 31, 2015 8:27am
Quoting squallpips
That's a very fast turnaround, rising from $43.85 to $45 and then back to $44 at US open. Was there a flush of WTI contracts that came onto the markets? Such volatility is usually seen around the inventory numbers announcement. Does anyone have an idea, just short covering and then panic selling?
And now back higher.

If you look at ES crude so far today has been pretty much in lock step.
  • #1,793
  • Aug 31, 2015 9:00am Aug 31, 2015 9:00am
At least the rise of the past hour is clear: OPEC wants to talk to other producers. But I'm surprised the jump is so severe, I doubt other countries will lower production, though downward pressure seems gone for the next few sessions.
  • #1,794
  • Aug 31, 2015 9:01am Aug 31, 2015 9:01am
wow taken the price has taken back a full month of declines ....pretty amazing in 4-5 days
  • #1,795
  • Aug 31, 2015 9:11am Aug 31, 2015 9:11am
Enough of this joke ... Tomorrow this mother is going down
  • #1,796
  • Aug 31, 2015 10:20am Aug 31, 2015 10:20am
Quoting ash1485
Enough of this joke ... Tomorrow this mother is going down
sucks... shorting, it's continue taking my money out, although I sold 50% at 43.70 but bought it again at 45.30..., saved 200$... a little relief, shorted more at 48.10, can't believe for a such move..., we will see 30+ just wait...
  • #1,797
  • Aug 31, 2015 10:37am Aug 31, 2015 10:37am
Quoting medvic
{quote} sucks... shorting, it's continue taking my money out, although I sold 50% at 43.70 but bought it again at 45.30..., saved 200$... a little relief, shorted more at 48.10, can't believe for a such move..., we will see 30+ just wait...
Just wondering now, Can this wave continue to 52 and 55???
  • #1,798
  • Aug 31, 2015 11:23am Aug 31, 2015 11:23am
Quoting ash1485
{quote} Just wondering now, Can this wave continue to 52 and 55???
Yes
Wooooohooooo or Boooooohooooo
  • #1,799
  • Aug 31, 2015 11:28am Aug 31, 2015 11:28am
Quoting medvic
{quote} sucks... shorting, it's continue taking my money out, although I sold 50% at 43.70 but bought it again at 45.30..., saved 200$... a little relief, shorted more at 48.10, can't believe for a such move..., we will see 30+ just wait...
There's a right shoulder completing on daily
is it that top of right shoulder done or keep heading to 54?
Attached Image (click to enlarge)
Click to Enlarge Name: image.jpg Size: 254 KB
Wooooohooooo or Boooooohooooo
  • #1,800
  • Aug 31, 2015 12:03pm Aug 31, 2015 12:03pm
No shorts this time for oil.
Bullish divergences everywhere at the end of 5th wave.
Also we have a turning point right here (around February 2009) looking at monthly tf.
Attached Image (click to enlarge)
Click to Enlarge Name: OIL-OCT15Weekly.png Size: 64 KB
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