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Very interesting read on Saudi oil
[url][/url][tag]http://seekingalpha.com/article/3968667-oil-war-means[/tag]
Makes absolutely no sense, does it? Its going to come down faster and harder than its going up too.
Fed says the economy is slowin. Guess that oil glut will keep building
Hasn't quite rolled over yet, but bear flag is well formed. Just waiting for a drop of equal or greater dimension to the immediate report pattern.
UWTI's morning bounce is starting to roll over. looking to me like oil retests 42.70 before day is over.
Oil has clearly broken out of the multi day trading channel to the upside. It should pull back to test the top of the channel
Wow! I stand corrected. UWTI hit over $30 in the premarket. I'm impressed.
Yeah. That ought to be worth $30 each...in about a week or two.
Appears to be just re-testing the top of our trading channel for the past 3-4 days. My guess is it will head back down to the high to mid 42's shortly.
Those are all good points on the fundamentals. Unfortunately I have a really poor record on trading the fundamentals. Usually makes no common sense the way prices react - that's why I try to stick with the charts.
No question about it. They are trading it between 42.80 and around 44. I tried posting a chart earlier but cpu crashed.
Take a look at an hourly chart - the past three days oil has been slowly trending down.
I think if oil breaks 42.50, the hourly channel (flag) its in should break to the downside.JMO
It would not take much (news) to get this to move 2 percent, which is what we need to get this roll started to the downside for the price of oil.
I completely agree.
On a short term trading basis (5 min chart) oil is trading in the lower highs and lower lows range. Obviously I'm betting on a lower day for oil. 44 seems to be a pretty good resistance level as 42 is "stub-port" level (my trademark nickname for stubborn support.
Me either. In fact I'm going to be away from the computer for the rest of the weekend, so I'll put in a DWTI sell order at around 140 in case it just happens to fly today. Ya'll have a great weekend. GLTDL!! (Good luck to DWTI longs!)
Take a look at this WEEKLY chart of WTI futures going back to January 2015. This is one of the reason I have decided to hold my DWTI position. As you state and the line shows, again on a weekly chart. Oil is at resistance and overbought on the stochastics (although it can be overbought a long time with this indicator. I believe the resistance is VERY strong at this level. It has been very resistant before and been strong support as well. Well right now that level is kickin' oil's butt. Just my opinion...
Yeah, I don't want to get burned either..that why I stay away from those candles...
Ok..that didn't read nearly as funny on screen as it sounded in my head.
I'm staying in. I thought we'd have a little more of a trading range today but it was not meant to be.
Hourly chart of DWTI has the Stochastics climbing MACD a little flat but upward. Hopefully folks will realize there are too many countries pumping oil and the economies aren't demanding it. Perhaps oil will sell off a bit overnight.
Me too. Oil has a ways to go down IMO. Although I can't blame anyone for taking a quick profit. I once asked a very rich friend of mine when one should take a profit. He said, "When you have one!"
I'm not quite sure what that is in the $USD. Overhead resistance is about 94.7 from what I can tell.
I meant to say below 43, not 42. My apologies
It was a pennant of sorts, and breaks to the side of the next move. Hopefully this is just a retracement before it makes a bigger move down. If it gets below the prior low, again around 42, DWTI should be testing yesterday's earlier highs.
I agree. 5 minute chart indicators show a strong drive down (maybe even better than the first drive this morning) after crossing into 42s.
Nope. In at 105.33
Sold UWTI when it started rolling over a bit. May not be a top, but anything over 28.20 was pushing my luck a bit...
UWTI starting to roll over on MACD (5 min chart). Sold and moved into DWTI for a few.
Good time for me to switch to DWTI. Nice work guys!!!
Its about time Z figures out that this is only going to cost them more $ and more market share the longer they try to fight justice.
Sheeeezz...and I thought I was just kidding last month when I said the bottom would be right at 60 cents.
I'm not looking quite the genius for getting back in at $1.10...
hahahahahahah...its been over 3 years with "do no evil" google.
OK. Here's my best "substitute teacher" moment for Clay Trader..HAHA
I know the chart looks like several days or weeks of data, but this is showing about 6 days of prices. As you can see from the Channel formed by the last 6 trading days (gray shaded areas are After market/pre market),we are in a downtrend.
First area of support is...OH CRAP! we're there!
Resistance is OH CRAP!...every thing above us.
Hope I made ya smile.
Maybe this will bring the REAL Clay Trader back soon.
Oh Yeah...for entertainment and educational laughs only.
-Yours truly,
Clay TARGET.
While I agree this baby is overdone, I don't see anything in the charts that indicate an immediate change in direction.
Making an example of ZTE's corruption as well as devious legal tactics along with the ethical lessons they should seriously learn, I would suggest $1.2B as a "punitive" starting point before negotiating an ongoing royalty for future products.
Thanks Green for the information. As a non-legal type, it makes common sense to me that if this is not evidence of a smoking gun, it is evidence that these two thieves (Z & G) have some effort of combining forces to collude against V, while trying to shield V and justice from the truth of not only what they have stolen and profited from, but also the process of deception.
I have been invested in V at around $3 per share over the past few years(never selling a single share) and will remain steadfast in this investment as I am in it simply now to prove to my family and friends that justice in the American system shall prevail. GLTA
Learning how to read charts, trends, momentum indicators, etc. is the great equalizer, at least it has been for me over the years.
All the big money, smart money,etc is always displayed in what is and has happened - right there in those charts. Its not perfect, but its the best tool the average trader/investor has outside of his/her discipline.
As I recall, I said "nice call". Ryan knows his stuff.
Looks like we have a chance to test 46.98 (47+-) today.
Yup. Price of oil is up 2%, UWTI is up just under 4%...3X intraday my A$$