1 month ago today, OPEC unofficially decided that they would cut production by 32.5-33m br/day. That announcement sent oil into gains frenzy skyrocketing it to almost $52/barrel. That unofficial statement was not enough to make oil break the resistance and reach the expected price of $60/barrel. Now during the OPEC and non-OPEC members meeting in Vienna in...
Oil trading near weeks high and facing strong Resistance above 52 level and other hand Cad also faced strong support around 1.30 level and now Trading around 1.3110 as Weak Cad also bad for oil So advice to sell oil in range of 51.7-52.5 sl above 53.5 TP 50-48
This trade Idea is a transfer of our open short from prior published idea. Summer is over so it's time to track our action on our daily chart. The old charts remain available but get too busy with notes. Our transferred short was entered over the last two months at an average of $47.10. Its clear that this summers consumption has done little to reduce available...
oil facing Strong Resistance around 47.5-48 level. Advice to sell oil in range of 47.1-47.7 with sl 48.5 where tp 45.5
there is a nice play short on usd cad with a correlation with usoil , wich are both are overextanded as the moment , wich live us with a nice ugain the trend possibilitty with nice r / r ratio ! i ll chart the oil chart on the link bellow , we are back so don't hesitate to come by our group just to talk chop , make any comment , share chart anyting ! cheers...
Risk off move, weak hr trendily support. Call credit spreads trading light though Summer is no time to risk on low liquidity
Okay 1hr fib has been retraced to the 61.8%, At the current time of publishing stochastics oversold on the 15 minute, overbought on the one hour. This could hold at $44.72 and go lower but we do have a channel support half way into the channel. Waiting for volume to show the direction of the market.
I had hoped to take a few days to get back into the water... But looks like we need to jump on this big Bombora.... It could play out for a while. Funny how these things form. We need to get a pretty good run from the first drop in. Bros with Rhinos will soon join the crew. We are going short with a stack of bones. Let's just hope we avoid a rail bang... ...
Alright this is a real nice short I was away from the market took some really good profits on oils failure to move higher on news. These prices are major S/R points that intersect with Old very valuable fibs usually a great profit target. Look for a pullback and enjoy the ride. may also reverse at these levels.
I love to wake up on Mondays to find I'm better off than Friday. This has been a feeling I have gotten use to this year. I just afraid I'm getting addicted to low oil. What will I do when we hit $20?? Sure the other side the trade will offer some help once oil reaches its low (around $17bbl I'm predicting). But then what... Oil will not have the upside in the near...
It is clear the world needs cheaper oil prices not only does this put pressure on those middle eastern countries that were using oil proceeds to fund terrorism but this sends a clear message to the Eastern powers that the world will not stand by idly while foreign nations invade each other to benefit from commodity prices. Commodities are still priced in US...