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Oil price discussion and analysis

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Re: OIL AGAIN!

Trade_It said:
Guys after looking at the monthly 4hour it looks toppy and has resistance at 63. Also current trend running out of pace with MACD dropping and topping into a straight line repulse also starting to drop, I will wait for the next swing off the MA.

see chart
Click to expand...
Or it could have been building for a breakout like it appears to have done. There was absolutely no way, with the circumstances at the moment, that oil was going to fall today. Until this Iran dealy is sorted, oil will remain high as a matter of precaution.

Energy stocks, the place to be right now.
 
Re: OIL AGAIN!

Heres Light Crude's chart for the last week.
 

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  • light crude mini mar27.jpg
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Re: OIL AGAIN!

Trade_It said:
Guys after looking at the monthly 4hour it looks toppy and has resistance at 63. Also current trend running out of pace with MACD dropping and topping into a straight line repulse also starting to drop, I will wait for the next swing off the MA.

see chart
Click to expand...

Yeh from the chart I posted any break out above the resistance line would give a entry point

may look to get in if it can close above 63 and hold there

Oil could now be starting to rattle the equidies. interesting situation.
 
Re: OIL AGAIN!

Yeah i'm keeping an eye on oil.. they're the only sector to not have rallied since the 4800 -> 6000 XAO run.

It's a shame though because Australian oil stocks are ****! When Woodside was trending well it was hammered with bad production reports which really ****ted me (and other shareholders i'm pretty sure).

But the company is looking pretty stable now and his broken past $38 resistance which is interesting, i'm going to buy it on a dip.

Oil sector is the only sector to join the party.
 
Re: OIL AGAIN!

WOW, what a thrust!
 

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  • Light Crude Mini Contract $5(US (MAY-07).png
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Re: OIL AGAIN!

From Bloomberg......

"Crude oil traded at $64.12 a barrel at 6:24 p.m. in New York Mercantile Exchange electronic trading, up $1.19 from the day's settlement price of $62.93. The settlement price is set after the close of floor trading at 2:30 p.m. New York time. Transactions after 6 p.m. are considered part of the next-day's trading.

Five trades were done between $68 and $68.09 a barrel just before 5 p.m., for the highest intraday price since September.

``Right now the buyer of those barrels may not be very happy,'' said Andy Lipow, president of Lipow Oil Associates LLC, a consulting company based in Houston. "

Cheers,
 
Re: OIL AGAIN!

CanOz said:
From Bloomberg......

"Crude oil traded at $64.12 a barrel at 6:24 p.m. in New York Mercantile Exchange electronic trading, up $1.19 from the day's settlement price of $62.93. The settlement price is set after the close of floor trading at 2:30 p.m. New York time. Transactions after 6 p.m. are considered part of the next-day's trading.

Five trades were done between $68 and $68.09 a barrel just before 5 p.m., for the highest intraday price since September.

``Right now the buyer of those barrels may not be very happy,'' said Andy Lipow, president of Lipow Oil Associates LLC, a consulting company based in Houston. "

Cheers,
Click to expand...

May not be happy he would be spitting chips!

CanOz well done on your buy you must be happy now. :xyxthumbs

I will wait to buy on a dip back to trend line
 
Re: OIL AGAIN!

Another big move in Crude.
 

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  • Light Crude Mini Contract $5(US (MAY-07)733.png
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Re: OIL AGAIN!

wayneL said:
<tongueincheek>This is gonna crash the stock market!</tongueincheek>

(I hope Realist reads that):D :D
Click to expand...

I don't he'd ever ever think about visiting the oil thread would he? I mean it doesn't pay good dividends....unless you get into Exxon for the long haul.....although i shouldn't say anything...i wouldn't have the foggiest idea what pays good dividends.....couldn't care either.

Go oil!

Cheers,
 
Re: OIL AGAIN!

Not withstanding that some of us are making a motza on this oil run, I'm a bit concerned as to what it means.

There's more to this Iran situation than the 15 pommie sailors. Lots of soothing noises coming out, but I don't believe it, somethings up.
 
Re: OIL AGAIN!

wayneL said:
Not withstanding that some of us are making a motza on this oil run, I'm a bit concerned as to what it means.

There's more to this Iran situation than the 15 pommie sailors. Lots of soothing noises coming out, but I don't believe it, somethings up.
Click to expand...

You just couldn't put it past Bush to cook up a war before he leaves office.

A fitting swan song that the Texan oil cronies are sure to love.
 
Re: OIL AGAIN!

Well I am now just about back to catching the train to work now!!

Well at least till it has a pull back to the trend line!:D

WayneL

I remember last year when this happened and may/jun/july were not very nice months.

With a hike in inflation and a much more average US economy compared to last year it could mean very bad news.
 
Re: OIL AGAIN!

Trade_It said:
Guys after looking at the monthly 4hour it looks toppy and has resistance at 63. Also current trend running out of pace with MACD dropping and topping into a straight line repulse also starting to drop, I will wait for the next swing off the MA.

see chart
Click to expand...

Yeh Chops I got that bloodly wrong!:banghead:
 
Re: OIL AGAIN!

OIL,

I am seeing good signs Oil has more room for further gains also just about to go long.

As you can see in the Chart below retractment to a healthy 38% and now finding support.

The price action is also very nicely sitting on its Gann Line.

What r all your thoughts?

Just got into retractments and Gann on the weekend freaky stuff really leaves indicators out in the cold.
 

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  • Light Crude Mini Contract $5(US (MAY-07).png
    Light Crude Mini Contract $5(US (MAY-07).png
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