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What's causing the dollar to spike? Wow.
Unofficial summer (school's mostly out, vacations, etc) is Memorial Day to Labor Day.
Hence, summer driving peak starts this weekend.
Where's all the folks talking about $30bbl oil??
It's the unofficial start of summer bitches!!!!!
What's with the snark?
Before oil gets that scarce though it will become so expensive that we will find alternatives for everything we make out of it. People/industry will switch, demand will go to nearly nothing, and it will not actually become as scarce as we would imagine.
That means when the dollar drops this will REALLY fly!
I imagine that was quickly taking out stop losses before a run...
The dollar rally? What do you call the last year? Expect a dollar and stock market crash.
Perhaps.
Like Ryan mentioned, we are continually making higher lows. Has been this way since March, there is no reason to believe it will stop in the near term.
Wonder why oil and the dollar are decoupled today? The dollar has dropped even more post EIA report yet oil doesn't pop.
Welp, it's Tuesday. Seems to be par for the course to fly on Tuesdays lately.
@ The 200 MA on the hourly
Right around $59.80 is the main trendline...
Peasodos is back. That means we're going up!
Double bottom @ $60.60?
No, UWTI follows WTI (west texas intermediate light crude oil). The WTI idowonder was referning to the ticker symbol of the company W & T Offshore. 2 completely different things.
The WTI we follow will have no earnings since it is a commodity not a company.
Easy mistake.
http://www.dailyfx.com/crude-oil chart on the bottom if you want to watch WTI in real time.
Can't imagine the earnings of one off shore company will have any effect on the price WTI (West Texas Intermediate crude oil)...
Earnings report? For an ETN?
Asia trading continuing the wild raid!
The 50 MA crossed the 100 MA on the WTI daily chart yesterday. A VERY bullish sign! The last time WTI 50 MA was above 100 MA was August 2014.
This is some sweet trading!
I saw. Thanks guys!
You guys must have gotten luck. Won't load for me. I'm getting all kinds of server errors from them. I assume they're getting flooded with requests.
Where you see that? Bakerhughes throwing out of memory error...
That or there is heavy resistance on the WTI chart @ $58.40. Either way, that isn't too long from now following the trend lines.
Question: why do you chart using CL vs WTI?
When I'm away from the computer I watch WTI using dailyfx or cx-portal on my phone's Chrome browser; works fine.
I use advfn through Ihub for my realtime streaming stock quotes so I use the Ihub Android app.
MA 50 is going to cross the MA 100 on the daily chart in the next few days. Nice bullish indicator.
Quite the volatile day...
Is there somewhere to see the rig count live when it is released like the EIA report?
What time does the rig report usually come out?
I was only 7 for Black Tuesday but I was trading September 2008. It's totally understandable only using cash. Trailing stop loss is a pretty decent safety net though.
I say that is a bogus scenario. Why would you hold through a crash? Would you hold cash shares through a crash? Wouldn't you sell for a moderate loss and try to buy again at the bottom; or switch to DWTI? I almost always use margin, big risk big reward. Just use tightish trailing stop loss. Unfortunately, my broker, Tradeking, won't let me use margin on uwti even though it's over 3 bucks now...
The smaller trendlines look right to me. Just broke the short term downward trendline.
WTI is stair stepping it's way up. Has had short term downward trends since the major uptrend started 3/18
Check out the chart on post 8134. The trend line crossed 54 at some point today. So, if it drops to 54 in the future, it will be below the line.
Slope's off. 3/18 the low was 42 not 44