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Yes very possible, just timing a try or two will be challenging as you never know
Usd down has this thing rocking, more to come possibly, usd may need to find a lower level of support
Im going to go with build this week, guessing most northern cities prob lowered ng usage to minimul lvl starting last week
Good point, that may explain the price action this month, production is down
See if usd can hold this 2 month double bottom, if it doesnt, should push oil higher
If you buy now/ soon , stop loss it at 20
I think dgaz could have an end march, beginning april blow of top before AC season
Could possibly test 30 and more the way i see it but who knows
Still waiting for some green candle confirmation to jump in here
Nice catch!
Its all about the usd, when is the fed day and what are the rate hike odds at right now?
The next three months should be build time and terrible for ng, although need to see dgaz break above the top of this channel and then 28 is possible
The pop from here could be accelerating and epic, gl
may join u soon
With usd looking weak on daily, will be watching for any daily green candle in oil to spark a new run
Usd is all that matters in oil
Maximum correlation
Great observation on the charts
Dwti sell off of 600 million worth yesterday
http://www.zerohedge.com/news/2016-02-04/real-reason-oils-crazy-volatility-week
Interesting to see if the last higher bottom holds in the next few days
Damn good post
Might be a good time to exit for a few weeks ahead
If green and clearly above 13, could reach 17-19 imo
Risk / reward is there for short term play
Its funny cause everyone is long usd , if anything wrong is announced, get ready for some crazy spike
usd matters, see on wednesday
Hows your program looking at oil right now? targeting 32 for a bounce?
I remember we were both holding 5's in august
Yes room for a few more bucks but could really be the top end point for now, as of today I see some sideways trading up ahead
Congrats, nice call
Good post, always better results trading ugaz with your meteorologist hat on
That timeline may allow it to get to the 1.60 mark others speak of
We trade a commodity priced in usd, fed decision could be the very bottom of this thing
Absolutely , look at usd chart correlation with oil
If bears cant push it lower tomorrow then look for a bullish buy opp, worth the attempt with a stop loss risk imo
Should we be bullish for next few weeks, feds may stay the same rates (usd weakens) and opec stance/decision mostly priced in anyways?
Saudis decide tomorrow, speculation of some parties want to cut production, game of chicken almost, should affect ng trade as well
Always a chance, so what is the true ng spot price double bottom level here? Just want to keep my eye on the action at that level for trading direction
I believe we go up to test the 200 ma and then down again to those levels you mentioned, gl, that strategy is the best way trade and grow your account
Do we count that premarket hit of 2.65 and below as the keyotee call? Or os it only valid in open hours?
Back in 2.91 for an afternooner for now
At this point with technical trading eye ( lets forget for a second about winter cold weather for next two weeks), it looks like ng to possibly double bottom on daily chart before entering ugaz again, worried that we get 2-5 more days of this ugliness ahead , chart was badly damaged with today's candle
Indeed. Finally, is that a bullish or bearish post?
Sry north west still looks cold
Noaa 6-10 day forecast updated this morning looks warmer for higher populated areas ( far east west )
I know sounds nutty but desperate to make sales
Heard the oil storage capacity is only 45+/- million barrels away from being full, interesting to see if we get to that point