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Oil price discussion and analysis

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Re: OIL AGAIN!


CanOz,

I have never held anything long enough to roll over yet but I don't think it would be any issue, but things jump and drop on change over sometimes.

Have gone long as well with tightish stop under the 38% retracement. Which i see as short term support.
 
Re: OIL AGAIN!


Last trading day is the 20th, this Friday. I think i might just roll it over, depending on how the next day or two pans out.

Cheers,
 
Re: OIL AGAIN!

CanOz said:
Last trading day is the 20th, this Friday. I think i might just roll it over, depending on how the next day or two pans out.

Cheers,
Click to expand...

Cheers for the heads up on that!

I will call them today. **You need to call and tell them to put the roll over on the trade, I think.**

I am with you on the couple of days thing as well, it still shows some possible down side action in my eye. I would like to see it build into the open of NYMEX tonight, I really don't want to widen my stop any more then it is.

aghhh commodities, so much fun!
 
Re: OIL AGAIN!

Trade_It said:
**Wish IG could supply open interest or volume on their commodities charts.**
Click to expand...
They can't really, unless they supply the OI of the underlying "real" contract. You could just look up the open interest via futuresource or someone.

\/ May OI with chart on top, June OI underneath
 

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Re: OIL AGAIN!

crude is walking the tight rope on its trend.

got nailed on two stops other days on longs looks weak but it is still hanging in there!

my gut yells long but my eye's say WAIT!

also saw OI dropped like hell, which also warns of a direction change, kind of looks like it gearing up for something. There has been alot of neutral news neither bullish or bearish. who of us technical chart traders care about reports!

what do you guys make of it?
 
Re: OIL AGAIN!


Same as you TI, got stopped out on longs, now expecting a short term bounce then weakness before i take another another long.
 
Re: OIL AGAIN!

Trade_It said:
also saw OI dropped like hell, which also warns of a direction change,
Click to expand...
Which contract? Bear in mind OI will drop dramatically as notice period approaches and may have nothing to do with anything but traders rolling contracts.
 
Re: OIL AGAIN!

wayneL said:
Which contract? Bear in mind OI will drop dramatically as notice period approaches and may have nothing to do with anything but traders rolling contracts.
Click to expand...

In that case it was due to a roll over I would say as it was this may crude.
 
Re: OIL AGAIN!

Crude should stay in a nice range of $50-75.
Any higher and there could be a worldwide recession, any lower and OPEC will step in!!
 
Re: OIL AGAIN!

weekly Crude fellas,

Make of it what you will in solid weekly ascending triangle volume dropping on a descending angle as well.

A break above 67.52$, says game on for the bulls in my view.

one to watch.
 

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Re: OIL AGAIN!

the bullish continuation pattern i last posted on a weekly scale is now showing potency.

with volume building around the possible break out, at the 2/3 point in the triangle making it a strong and very strong confirmed pattern if the bulls manage to break out in this point in the pattern.

I was losing faith in this pattern but now with some fundermental news realised it could prove very valid.
 

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Re: OIL AGAIN!

hey guys

where do you go to get current crude prices

thanks
 
Re: OIL AGAIN!

resourceboom said:
Crude should stay in a nice range of $50-75.
Any higher and there could be a worldwide recession, any lower and OPEC will step in!!
Click to expand...
Step in and do what? It's not as if they have any real ability to ramp up production these days beyond a few %.
 
Re: OIL AGAIN!

Smurf1976 said:
Step in and do what? It's not as if they have any real ability to ramp up production these days beyond a few %.
Click to expand...

I think he meant that they would cut production to keep the price in the range.

Cheers,
 
Re: OIL AGAIN!

Smurf1976 said:
Step in and do what? It's not as if they have any real ability to ramp up production these days beyond a few %.
Click to expand...

They would step in and turn off the taps
To keep the price high.
Like what Can said.

And plus they dont have to do anything.
What comes out of their mouth fluctuates the price more than what comes out of the ground!!
 
Re: OIL AGAIN!

CanOz said:
I think he meant that they would cut production to keep the price in the range.

Cheers,
Click to expand...
Misread the original post.

I'm so used to hearing the "it's going back to $20" and "there's plenty of oil" types that I somehow read the original post as saying oil won't go up much because we'll just open the taps...
 
Re: OIL AGAIN!


Hello CanOz ,

I am Chinese and in Aussie now. I want to consult you some questions.Could you mail me please?(I cannot find you email)My email is : eagleou@hotmail.com

Thanks.
 
Re: OIL AGAIN!

Just thought i,d share this Graphic With you all , I thinkin of movin to Turkmenistan to fill up the Barina Lol NOT!, Americans dont use much per day in comparison to the rest of the world , Lets all get ourselves a hummer and try and set a new record
OIL CONSUMPTION GRAPHIC FROM THE ECONOMIST
 

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