mfbreakout 

stopped out. reversal of Flush down. Long on pullback from 49.20 area. Long 48.72

Oh, wrong move. out 48.94. . looking for short. Did not know about Obama speaking. Thanks. Massive moves.

mfbreakout 

stopped out. reversal of Flush down. Long on pullback from 49.20 area. Long 48.72

Hindsight is 20-20 had to think real hard if I wanted it or not at 4815 the area I pointed earlier. Pending news I let it go but that was the sweet spot from yesterdays EIA# take off

Watch Four Years of Oil Drilling Collapse in Seconds

Cool gif on oil drilling.

Watch Four Years of Oil Drilling Collapse in Seconds | Bloomberg Business - Business, Financial & Economic News, Stock Quotes

Also this is interesting. Zero decrease of production with the huge decrease in drilling.

Small short 4930 targetting 4850-only area left behind

Edit: Flattened 4922 done for day Try again overnight or tommorow

mfbreakout 

Oh, wrong move. out 48.94. . looking for short. Did not know about Obama speaking. Thanks. Massive moves.

short 49.34. Not the response one expect from a deal with Iran but there were no longs up here regardless of iran deal. So it look like a scalp.

Really hard to trade this, would have thought we would trade from 50 to 47, same trade as when there was no statement we went from 47 to 50. Instead now we went from 50 to 48.1 to go back to 49.4 …

Yeah, I didn't manage to get anything out of it.

Quoting 

Oil prices closed lower on Thursday after global powers negotiating a deal with Iran announced they had reached solutions on key parameters of the country's nuclear program.

Quoting 

Oil prices were under pressure earlier after oil services firm Baker Hughes reported the number of rigs drilling for oil in the United States declined by 11 this week to 802, the smallest decline since December. The data, which was released a day earlier due to the Good Friday holiday, compares with declines of 12 and 41 rigs in the prior two weeks and is a sign the collapse in drilling over the past few month has reached its low point.

.

bmtfrm 

Really hard to trade this, would have thought we would trade from 50 to 47, same trade as when there was no statement we went from 47 to 50. Instead now we went from 50 to 48.1 to go back to 49.4 …

Massive rally the other day on a +4.8M build, and refused to go down further after Iran deal. Seems ready to go test 52 again.

josh 

Massive rally the other day on a +4.8M build, and refused to go down further after Iran deal. Seems ready to go test 52 again.

and 1.3% down move in US$ today. I am toast on my short in CL from 49.39 area. Luckily have stop loss in but hoping to get a chance to get out on Sunday night before stop loss gets hit as stop loss is quite wide and high. Praying for not a Gap up on Sunday night.

I did not follow my Rule of Bad news good price action and shorted into Thursday close. Not good. Why would i take this trade in front of Job report and when CL market is closed on Friday- i have no idea except i was focused on Iran news from the wrong angle.