Oil price discussion and analysis
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BentRod
ZZZZzzzzZZZZzzzzzzzz
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Re: OIL AGAIN!
Anyone got a bar chart of OIL??
BTW...where is Rederob and Jess Wabbit????
Anyone got a bar chart of OIL??
BTW...where is Rederob and Jess Wabbit????
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Re: OIL AGAIN!
Another meeting for OPEC on 17th December in Ora, Algeria, with promises of hefty oil production cuts.
In the past OPEC were in disarray when prices fell as many cheated on their quotas.
Trouble is most countries are cutting back due to an increasing worldwide recession. Pay cuts in the Ukraine steel industry of 40%.
Lots of spare coal in China and elsewhere now. Oil could hit US$40 per barrel for Texas light before recovering a bit.
Another meeting for OPEC on 17th December in Ora, Algeria, with promises of hefty oil production cuts.
In the past OPEC were in disarray when prices fell as many cheated on their quotas.
Trouble is most countries are cutting back due to an increasing worldwide recession. Pay cuts in the Ukraine steel industry of 40%.
Lots of spare coal in China and elsewhere now. Oil could hit US$40 per barrel for Texas light before recovering a bit.
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Re: OIL AGAIN!
Monday, 01 December 2008 20:10:51 GMT
Written by David Rodriguez, Quantitative Analyst
Full Article
The NYMEX Crude Oil contract may continue its decline if it is unable to recover recent losses, as the break of a 10-year uptrend channel leaves it vulnerable to further drops. Next downside targets include recent spike-lows at the 48.25 mark, while further price floors are shaky. If we trust continuous contract data, crude oil could test previous support at the 46.20 mark, while further declines would likely eye a move towards the psychologically significant 40.00 level. Short-term forecasts remain dim for the crude oil contract, as it remains in a clearly pronounced multi-month downtrend.
Short-Term Technical Forecast for Crude Oil
CFDTrading.com provides free news, trading resources, and market analysis to the trading community.
Monday, 01 December 2008 20:10:51 GMT
Written by David Rodriguez, Quantitative Analyst
Full Article
The NYMEX Crude Oil contract may continue its decline if it is unable to recover recent losses, as the break of a 10-year uptrend channel leaves it vulnerable to further drops. Next downside targets include recent spike-lows at the 48.25 mark, while further price floors are shaky. If we trust continuous contract data, crude oil could test previous support at the 46.20 mark, while further declines would likely eye a move towards the psychologically significant 40.00 level. Short-term forecasts remain dim for the crude oil contract, as it remains in a clearly pronounced multi-month downtrend.
Short-Term Technical Forecast for Crude Oil
CFDTrading.com provides free news, trading resources, and market analysis to the trading community.
Re: OIL AGAIN!
If this isn't the most ridiculous statement i have heard - hmm, oil will keep going down if it doesnt go up. although i guess it could just stay steady
Monday, 01 December 2008 20:10:51 GMT
Written by David Rodriguez, Quantitative Analyst
Full Article
The NYMEX Crude Oil contract may continue its decline if it is unable to recover recent losses, as the break of a 10-year uptrend channel leaves it vulnerable to further drops. Next downside targets include recent spike-lows at the 48.25 mark, while further price floors are shaky. If we trust continuous contract data, crude oil could test previous support at the 46.20 mark, while further declines would likely eye a move towards the psychologically significant 40.00 level. Short-term forecasts remain dim for the crude oil contract, as it remains in a clearly pronounced multi-month downtrend.
Short-Term Technical Forecast for Crude Oil
CFDTrading.com provides free news, trading resources, and market analysis to the trading community.
If this isn't the most ridiculous statement i have heard - hmm, oil will keep going down if it doesnt go up. although i guess it could just stay steady
wayneL
VIVA LA LIBERTAD, CARAJO!
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Re: OIL AGAIN!
Well... if you can hedge a stock holding, why not hedge a market call?
If this isn't the most ridiculous statement i have heard - hmm, oil will keep going down if it doesnt go up. although i guess it could just stay steady
Well... if you can hedge a stock holding, why not hedge a market call?
IFocus
You are arguing with a Galah
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Re: OIL AGAIN!
Funny it was a case not long ago of how high oil can go, now its I guess how low can oil go.
Has to have been one of the easier trends that I have traded, chart of USO an ETF on the US exchange below that Nick Radge put me onto when oil was headed up way back in March this year.
Seems a life time ago........
.
Funny it was a case not long ago of how high oil can go, now its I guess how low can oil go.
Has to have been one of the easier trends that I have traded, chart of USO an ETF on the US exchange below that Nick Radge put me onto when oil was headed up way back in March this year.
Seems a life time ago........
.
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Re: OIL AGAIN!
if oil dropped to something like $10 or $20 a barrel, could WPL or our aussie oil companies survive at this rate?
i was thinking it would be a great time to buy their shares if oil was so low but is there a risk that they go under at such a low price for a period of time?
if oil dropped to something like $10 or $20 a barrel, could WPL or our aussie oil companies survive at this rate?
i was thinking it would be a great time to buy their shares if oil was so low but is there a risk that they go under at such a low price for a period of time?
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Re: OIL AGAIN!
Great trending instrument to trade lately hey!
Unfortunately, I didn't take advantage enough of it. Good work Ifocus!
Great trending instrument to trade lately hey!
Unfortunately, I didn't take advantage enough of it. Good work Ifocus!
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Re: OIL AGAIN!
History would suggest the oil price could return to $20 (inflation adjusted) but that ignores any fundamental long term change in the balance between supply and demand.
http://en.wikipedia.org/wiki/File:Oil_Prices_1861_2007.svg
History would suggest the oil price could return to $20 (inflation adjusted) but that ignores any fundamental long term change in the balance between supply and demand.
http://en.wikipedia.org/wiki/File:Oil_Prices_1861_2007.svg
wayneL
VIVA LA LIBERTAD, CARAJO!
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Re: OIL AGAIN!
January futures are printing < $40.00
January futures are printing < $40.00
numbercruncher
Beware of Dropbears
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Re: OIL AGAIN!
36.50 !
Getting close to fair value now
36.50 !
Getting close to fair value now
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Re: OIL AGAIN!
Say if i wanted to invest and buy Oil, not in a company that drills for it, but rather like buying 1000 barrels of Oil. How would one go about this?
Say if i wanted to invest and buy Oil, not in a company that drills for it, but rather like buying 1000 barrels of Oil. How would one go about this?
Re: OIL AGAIN!
I asked this question some time back. Bascially you need to find either an ETF (none in Australia which is a shame), get a CFD account that has oil as a product listed, and/or get a futures account.
I have yet to do it. I know nothing about good futures brokers, or which brokers are good for very occassional US stock trades (plus I want to sleep at night). The CFD's that do provide it here are either ASX CFD's or companies I have never heard of. Maybe someone could point you to a good provider here.
I asked this question some time back. Bascially you need to find either an ETF (none in Australia which is a shame), get a CFD account that has oil as a product listed, and/or get a futures account.
I have yet to do it. I know nothing about good futures brokers, or which brokers are good for very occassional US stock trades (plus I want to sleep at night). The CFD's that do provide it here are either ASX CFD's or companies I have never heard of. Maybe someone could point you to a good provider here.
>Apocalypto<
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Re: OIL AGAIN!
It's amazing how Wavepicker called this, what a sell off.
the chart looks better then the AUD/USD chart in terms of the fall.
The trend looks to have nothing stopping it. any one thinking of a bottom? 25-35$ area?
It's amazing how Wavepicker called this, what a sell off.
the chart looks better then the AUD/USD chart in terms of the fall.
The trend looks to have nothing stopping it. any one thinking of a bottom? 25-35$ area?
>Apocalypto<
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IFocus
You are arguing with a Galah
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Re: OIL AGAIN!
For the average punter open an Interactive Brokers account and gain access to the US exchanges where there are ETF's that mimic the price of oil.
Futures positions maybe a little large for most if trading commodities where as as with an ETF you can take small positions.
For the average punter open an Interactive Brokers account and gain access to the US exchanges where there are ETF's that mimic the price of oil.
Futures positions maybe a little large for most if trading commodities where as as with an ETF you can take small positions.
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Re: OIL AGAIN!
i was just imagining 1000 barrels of bargain priced crude oil
packed in to Tradedailys backyard
would makes for interesting conversation at the holiday bbq,
which must now be at the nearest park
i was just imagining 1000 barrels of bargain priced crude oil
packed in to Tradedailys backyard
would makes for interesting conversation at the holiday bbq,
which must now be at the nearest park
IFocus
You are arguing with a Galah
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Re: OIL AGAIN!
Reminds me in the early 80's I was living in a caravan park in Carnarvon (surfing at the time secret locations in the northwest of course) another group of people in the park were stock piling enormous amounts of diesel in 44's behind their caravan.........could never happen today I guess.
i was just imagining 1000 barrels of bargain priced crude oil
packed in to Tradedailys backyard
would makes for interesting conversation at the holiday bbq,
which must now be at the nearest park
Reminds me in the early 80's I was living in a caravan park in Carnarvon (surfing at the time secret locations in the northwest of course) another group of people in the park were stock piling enormous amounts of diesel in 44's behind their caravan.........could never happen today I guess.
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Re: OIL AGAIN!
so how does futures trading work?
is it if you bought oil at $20 for example. invested 20 grand.
if it dropped to $15 after purchasing u need to cover this 25% drop with cash in your interactive brokers account so adding another 5 grand to the account to keep it?
is that how it is?
and if it sits at around $15 for weeks u pay nothing , u just hold?
so how does futures trading work?
is it if you bought oil at $20 for example. invested 20 grand.
if it dropped to $15 after purchasing u need to cover this 25% drop with cash in your interactive brokers account so adding another 5 grand to the account to keep it?
is that how it is?
and if it sits at around $15 for weeks u pay nothing , u just hold?
