Well, I suppose consensus before the morning report is that supplies have risen more. I'm really curious as to what will happen, seeing as we've been back up the last few days. Might hold off on trading oil tomorrow until the word comes down.
Analysis paralysis, Read post#82. Posted 2 months ago. That's when cl said enough is enough. When a $50 down move suddenly stops you have to stop and take notice who's buying and why. Same thing in stocks when a stock sells off on good earnings it's telling you something whether you listen or not , your wallet will let you know
Putting in a bottoming range now 5100+ is the composite vpoc now the comfort zone
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Last edited by garyboy275; March 25th, 2015 at 03:38 PM.
From a fundamental standpoint, a weaker dollar, positive economic development in Germany and crisis in Yemen seem responsible for the push higher, not sure how high it will go but above 50 is possible.
I have noticed that when an asset has been trending for several months, like the strong dollar or the sliding crude prices. The market reacts aggressively towards events that could temporarily break the trend and maybe not fully account for events that would other wise continue the trend. The inflation figures didnít help the dollar much and the supply glut didnít cause a slide in crude. Or maybe its just me who needs to understand the fundamentals better
Yesterday and today CL was in a scalpa' paradise mode
Pace of Cush builds slowed last week. This is the reason for this spike (since Mon). Fundamentally no changes since last week for WTI. $50 possible, not sure about today though, we'll see tomorrow what happens next.
So it traded as high as -240 overnight but then when the market sold of K/N sold off as well, eventually trading as low as -304.
Interestingly when the market rallied back, every spread on the board rallied except K/N which eventually settled down at -288.
K/M & M/N both settled DOWN 4c on the day. Every spread between N/Q and X7/Z7 settled UP between 4c and 9c.
n5/z7 settled +180 on the day!
Well unless they sold in the middle of the night, touch of Gold became touch of Lead.
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