CL Redux
- Thread starter schizo
- Start date
tomorrow is friday , I just realized.
I guess this last one hour move to 89 is with some big traders thought of potential unrest in many countries may intensify after friday prayers as it happed in Tunisia/Egypt ...
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http://www.marketwatch.com/story/oil-futures-edge-higher-in-electronic-trading-2011-02-17
The crude contract gained 0.8% in the previous session, amid continued protests in Bahrain, Yemen and other Arab countries, punctuated by reports that Iranian warships would be headed to Syria via Egyptâs Suez Canal.
On Thursday, Iranian state TV confirmed the reports, saying warships are on their way to the canal, according to media accounts. Details were scarce, however.
The dayâs developments in the region also included the break-up of an encampment of demonstrators in Bahrain by police. Protests also took place in Iraq, Libya, and Yemen.
âMideast tensions [are] providing something of a short-term prop,â said energy analysts at MF Global.
MF Global is looking for further gains in the energy sector, at least in the short term.
âIt seems that investors are content buying the dips, and we likely will see energy prices (at least in the Brent complex) maintain their gains for a little while longer,â the analysts said.
I guess this last one hour move to 89 is with some big traders thought of potential unrest in many countries may intensify after friday prayers as it happed in Tunisia/Egypt ...
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http://www.marketwatch.com/story/oil-futures-edge-higher-in-electronic-trading-2011-02-17
The crude contract gained 0.8% in the previous session, amid continued protests in Bahrain, Yemen and other Arab countries, punctuated by reports that Iranian warships would be headed to Syria via Egyptâs Suez Canal.
On Thursday, Iranian state TV confirmed the reports, saying warships are on their way to the canal, according to media accounts. Details were scarce, however.
The dayâs developments in the region also included the break-up of an encampment of demonstrators in Bahrain by police. Protests also took place in Iraq, Libya, and Yemen.
âMideast tensions [are] providing something of a short-term prop,â said energy analysts at MF Global.
MF Global is looking for further gains in the energy sector, at least in the short term.
âIt seems that investors are content buying the dips, and we likely will see energy prices (at least in the Brent complex) maintain their gains for a little while longer,â the analysts said.
90.24 = 20-day EMA
This level also serves as a touch to the underside of the lower TL from 11/23/10 low to the late January support level.
Today's close provides a clean (double bottom, followed by HL, close above yesterday's close, and shaved head bull bar) reversal signal that should lead price to that level.
A break through that level brings 91.00 easily into play.
ADD: A failure at that level would bring next support into play: 85-ish
This level also serves as a touch to the underside of the lower TL from 11/23/10 low to the late January support level.
Today's close provides a clean (double bottom, followed by HL, close above yesterday's close, and shaved head bull bar) reversal signal that should lead price to that level.
A break through that level brings 91.00 easily into play.
ADD: A failure at that level would bring next support into play: 85-ish
yup we got b)
Here are two visible TRAPs created by Market Makers today.
1) first reversal after touching 88.50 first time ( reversal on that .50 rarely happens ) . To give impression that bull move running out of gas and trapped SHORTS at 88.35 level
2) first reversal after touching 89.00 first time , same thing giving impression that bull move is out of gas and subsequent TRAP of new SHORT trades at 88.40 level all the way back to 88.90 level again ..
Here are two visible TRAPs created by Market Makers today.
1) first reversal after touching 88.50 first time ( reversal on that .50 rarely happens ) . To give impression that bull move running out of gas and trapped SHORTS at 88.35 level
2) first reversal after touching 89.00 first time , same thing giving impression that bull move is out of gas and subsequent TRAP of new SHORT trades at 88.40 level all the way back to 88.90 level again ..
