CL Redux

Quote from mrbochin23:

r we going to have a huge breakout in later on just like Friday?. I am watching very careful if it breaks out of Initial Balance in Market Profile in either direction above 78.37 long, under 77.72 short.
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That was a monster rally on Friday. Was that somehow related to the hurricane brewing out in the Gulf?

So the prevailing sentiment at the moment largely seems to be bullish. But for some reason (or another), I ain't feeling so bullish. Granted, I'm not holding any short and will likely not until 75 is taken out.
 
crude oil is being propped up by the looming hurricane danger in the gulf i think, we shouldn't be moving like this with the dollar spiking up so high today
 
Quote from Blubaru_555:

crude oil is being propped up by the looming hurricane danger in the gulf i think, we shouldn't be moving like this with the dollar spiking up so high today
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I thought the pressure was downwards because it seems it's gonna miss the bulk of the rigs

http://www.stormpulse.com/
 
Quote from Blubaru_555:

i can't find any news saying the storm is going to miss oil productions in the gulf
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The path that it has right now it will hit just where no mroe than 4% of the rigs are at, most of them are in North part of the Golf, and according to the projections it will miss that area.

I guess that's why we are fighting between buyers and sellers today, waiting for the final destination of the storm possible hurricane. I haven't make one trade today just waiting for a breakout.
 
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