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I was referring to intraday, in my opinion it looks pretty uggly. Like the article that you linked, the Contango is huge, I honestly never seen it so wide spread, on this time of the year. I agree with you I am looking at support around 72, and the 70. I've been following the Euro, and the...

Advice: if anyone is long, get out now.........

I could be wrong, but I have a feeling that will going to collapse. Staring with the Dow.

You think it will break through 74.00? it's fighting it, I have a short position at 74.24, I hoping it breaks to the low 73's.

I consider opening range regular trading hours, I particular look at it from 9:30 AM to 9:45 AM ET, at the breakout of this range, and confirm it with my Market Profile Structure. Of course I also look at the fundamentals.........sometimes I stay out even if Tech Analysis are telling me otherwise.

Look for the opening range of the first half hour it usually gives you a direction where the big movements go for the day, today I was Bullish, thinking bears will take profit, but once I saw the direction after opening range, I change my mind. Pick 83 cents in a contract. :)

Guys I am bullish today, but for the ones of you who are bearish today look very careful at 76.58 is the VAL in my Market Profile it's finding some support in there, if it breaks down the number after openinng it will be a good entry point in the down side. Good luck.

You are right and to this we have to add that historically speaking the coming months is when Oil make new highs and spikes, usually April and October are the bottoms. WE will see Oil in 90 before the end of the summer.

Hi, to all, Today I couldn't trade because I was sick......and of my rules is don't trade when you don't feel well, although this move did not surprise me, It was crazy!!!! I pointed out, Tuesday in the afternoon, that the Oil will collapse for fundamental reasons, even though we haven't...

You are 100% right base on pure technical analysis, but the fundamentals say otherwise. It's a lot of Oil out there, way more than demand, it's the "Perfect Storm" ........Europe in crisis, strong dollar a lot of Oil, and you could add to the equation the "Failed terror attack in Time...

I am done for the day, by the way how many trades a day u do average?...........I will be waiting for the EIA data tomorrow and it might enter before if the Contango Jul/Aug expand more.......right now is in more than $4 dollars which is insane, that gives us of how bearish the crude oil market...

I have a question, I am looking how the options work on currencies, I never trade currencies, but I am thinking very serious about buying puts with strike price in 1.25 can someone explain me how many options is that we buy etc, etc, or a link where I could check that out. Sorry to get out of...

Anytime.........market profile helped me a lot, it confirm the down trend by second half hour.

I am trying to go short at 84.00, i think it will touch 84.00 soon, after that it will test to break 83.00 again. Just my opinion.

Ransquawk for now, but will love to get one day Jones wire news.

Oh Boy Now Obama, is speaking...........watch the numbers going like a roll coaster!!!!!!!!!!

Look at this: "Cargoes of Nigerian light sweet crude are struggling to find buyers in the US, traders of West African crude said." I just got it in my news feed.

If I was you I will very careful, look at the spread between months in Crude Oil, is telling you is a lot of Oil in Storage, I won't be surprise if we test the low 80's between today and tomorrow.

Completely agree, very abnormal day the opening range was almost a dollar wide. I am very careful right now, still bearish, but I am waiting and see what happens. Good Luck

My advice is that even though the day look extremely bearish, wait until the Pending homes sales index and Factory Orders at 10 AM ET, and see how market react to it, from there I will decide my entry point. Good luck to everyone.