P.s. In this paper the authors say that Brent Crude Oil is currently considered to be the global oil pricing benchmark and is therefore monitored and forecasted by many central banks and international institutions.
Take your Pips, go out and Live.
Last edited by LukeGeniol; April 18th, 2015 at 07:06 PM.
this is for the VP/MP guys. i have got conflicting answers on this subject which leads me to looking at multiple things and it can be confusing at times. i know the ON session should be respected, highs and lows and how it developed, but what is the 'norm' used in this space with regards to looking at a combined Globex/RTH vs separating Globex/RTH and all the thing MP/VP entails(VPOC, VAH/VAL, etc). what about the last part of the session from the pit close to the ETH close. should this be counted?
it makes perfect sense as to why someone would keep them separate for trading the indexes and such as those have to balance with the equities/options mkts. the crude doesnt carry this same attribute but on the other hand the majority of the volume takes place during the pit session even though it feels like it is more of a 'true' 24h mkt. i know the perfect answer is its all subjective and what works for you and what you can interpret from all scenarios, but i want to get a feel as to what the majority are doing.
i am going back through the ES thread as there is so much amazing info in this area that i have missed over the years and maybe even some of those guys like @Big Mike, @josh, @tigertrader can comment even though its not their primary mkt.
dont believe anything you hear and only half of what you see
Hah, that is anyone's guess. It is very hard to see what oil will do in the long term. News from the middle east affects it strongly. There are many different suppliers with different overheads competing right now, and many of them have been hedged months ahead. I do suspect there is still not much upside, at least until we get some sort of supply interruption or a producer is forced out of the game. But please don't misconstrue that as my having any sort of long-term bias, or crystal ball - I don't. Something could happen Monday morning that would move it $30 either way. Now is not a time where I would touch oil beyond an intraday time frame.