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I was just going ask a similar question. I don't remember seeing a $5 spread between Brent and WTI before. That's a 10% difference. Brent dumps or WTI narrows the spread? BTW we'd prob be at around $49.80's area pre rollover I think so I'm wondering if it's time?
Now for the DUMPING to commence.
Thanks for that Kam. I was thinking the same. $50 was very heavy with 3 attempts to break it failing.
Good morning all. Looks like that attempt to cross above $50 this morning brought in the dump. Let's see how it trades today. Good luck all and happy trading.
I think that's a good assessment BOS, but add to that info from CoT report and we may see some bigger shorts coming in. I'm interested to hear Kam's take on the report and what he reads there.
Just settling in from work. Long day today. I see another black candle came in today and also
A doji wit rejection of the $50's a few times. Next week will be interesting. I will definitely be watching this like a hawk. I hope everyone had a great and safe week. Enjoy your weekend.
Good morning all. Looks like oil trying to move up. But 2 times fail to hold $50's let's see what we get today.
I think tomorrow's action will tell the direction for sure. See how the weekly candle closes.
I see that black candle coming in today Kam, I wouldn't be surprised if we break below $49's very soon.
Annnnnd!!!! WUE the DUMP!!
I have a feeling we see that $49.20's again before too long.
I think it's time to Que that Dump!
I'm so sure about that yet BOS, looks like just S&P excitement so far. I think we see a bump today. Gonna play for it.
Yes that move to $50 is pretty strong indicator but the dumping can commence anytime today. Trade well BOS.
Looks like supply news set up a nice shorting opportunity. I agree tomorrow will be dump time. Or should I say... QUE THE BUMP!!!
Hahaha and as you say that... QUE THE DUMP!
And looking like that $49.20 call was a good one so far.
Yep I agree.
Yes I think those refineries will take their sweet time coming up.
Falling here a bit. Let's see how it does at $48.50's area
Hahah I'm thinking. Although gasoline and Distillates had good draws. QUE THE DUMP.
Oil bull flag here or setting up for a drop? Reports will move it I think.
Dip there let's see if $48 holds.
Good morning Gents. Let see how oil plays today.
I agree it's being very stubborn here. May cut my short here and wait for better entry.
Time to"QUE THE DUMP!"
Thanks for the info. I agree on downside this week.
Why do you think so LMS?
Good call LMS I was going to ask the same.
Ok gents have a safe weekend and catch you here on Monday morning. Let's see if we get a bounce next week.
Officially in low $47's now. Nice call Kam.
There is your target my friend.
Que que que that dump!!
Enjoy your weekend LMS stay safe.
No sorry it's actually lunch time. Dump time probably after.
Feels like dump time.
Very nice. Failed the $48.30 let's see if it tries at it again.
Testing it now
$48.30. Area for oil is prob key before $48.50