the charts layout looks pretty good.
What is the charting software used and data provider. I see same charts with other in this forum ( jahajee ...)
appreciate input
Crude Oil Falls for Sixth Day on Concern Stockpiles Are Rising
http://www.bloomberg.com/apps/news?pid=20601087&sid=aOgtb55xDvP0&refer=home
1) Jan. 13 (Bloomberg) -- Crude oil fell for a sixth day in New York, its longest decline in a month, on speculation that slumping demand caused U.S...
I had a good 40 cents at the begining of the day and if you see all my posts I am 200% convinced this is "OIL SELL market" .
and there I did a stupid thing against my preaching , took a temporary LONG that killed the whole thing..
Lesson learned .. do not go against what you convinced...
"The demand destruction amid continued weakness in the global economy, coupled with excess supply in the market at the moment, is likely to continue to dominate sentiment," said Nimit Khamar, analyst at Sucden Financial Research...
Russia-Ukraine gas deal for Europe in doubt
http://www.theglobeandmail.com/servlet/story/RTGAM.20090110.weugas1001/BNStory/International
Mr. Putin has accused the pro-Western Ukrainian leadership of President Viktor Yushchenko, facing a deepening economic crisis, of being corrupt and...
key U.S. corporate earnings results expected to give a new reading on crude demand in the world's largest consuming nation.
http://finance.yahoo.com/news/Oil-falls-below-39-as-apf-14027183.html
Economic worries outweighed factors that would normally boost the market -- Mideast tensions...
Crude Oil Falls Below $40 as Demand Drops Faster Than Supply
http://www.bloomberg.com/apps/news?pid=20601087&sid=aB8rgLpDzLFI&refer=home
1) Oil consumption will fall by 1 million barrels a day this year while the U.S., Europe and Japan face their first simultaneous recessions since the...
the crude oil actions shows FEB09 current contract reaching $45 is over ( 1 week , 1 day left till contract end JAN 20 ) unless there is some big external news ..
if you look at CL charts for last 2 weeks all the high were made in the over night ( london time) and the subsequent Newyork day time market proved that high is not justified few examples
first 49 hit after war news, next moring 47.5
Russian Gas cut news spiked to 50.5 , next...
I followed whole Friday minute to minute had a very good day friday and gave back some again as unexpected FRIDAY last 1 hour gain of $1 .
When I realized later about this $1 gain in FRIDAY last 1 hour ( new york time US mkts) I analized it as 'crude Weekend premium in troubled times"...
this FEB09 CRUDE oil contract ( Expiring on JAN 20 ) will PEAK the day before the US oil stock piles report ( report out is JAN 14 or 15 I am not sure ). The peak price may be < $43
Here are my analysis.
Last month contract closed at 33.5 , from economy ( jobs , factory orders etc.. )...
1) Strong dollar case
The euro was off its early Asian lows, recently at $1.3421 from $1.3381, though the European Central Bank was expected to cut interest rates at its meeting later in the week.
Recent gains in the euro would retrace as worsening economic data would lead the ECB to cut...
at 12 noon Newyork time oil was at 40 , only last 1 hour of market it spiked to 40.90 just due to Week-end premium ( oil week end premium in troubled times middleeast conflict ), otherwise oil true range as of Friday Newyork market close is around 40 ..
I believe that 40 is the...
All these 4 fundamental factors are supporting sell side market for Crude OIL ..
Appreciate comments ....
1) Russia gas conflict settling ( almost)
2) middle east conflict near ending ..
3) strong US dollar against EURO
Euro Falls Versus Dollar, Yen on Speculation ECB Will Cut...
Ukraine has signed an agreement on the EU-led monitoring of Russian gas transit to Europe, Prime Minister Yulia Tymoshenko said Sunday.
http://news.xinhuanet.com/english/2009-01/11/content_10637873.htm
"We once again have shown our goodwill," she said.
Tymoshenko made the...
Israeli Troops Push Into Gaza City in Day of Fierce Fighting
http://www.nytimes.com/2009/01/12/world/middleeast/12mideast.html?ref=world
1) Israel and Washington are trying to secure agreement on a deal that would mean a Hamas commitment to stop all rocket firing into Israel and an...