CL Redux

I guess
- morning drop is in tune with EURO crisis .
- then reversal shot up due to JUNE contract expiry. Think about it crude which will be delivered one month from now , the 'delivery opec guys' and ' receiving OIL refineries ' make a decision today.
even though CL market is in bear mood last few days , I guess ' Opec ' guys are not ready to deliver it at $96 on a date one month from now , so shot up ....

Of course our big hedgies are in between these 2 parties as mediators to benefit major by playing a middle role holding/selling contracts as to they see fit.




Quote from Picaso:

Holy cow, any fundamentals behind those swings?
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98.50 ( JUL) is the top of that Big drop bar while it is selling off 2 hours ago.

on volume profile chart , very little vol below 99.25 , next stop is 98.50
It seems we may touch that 98.50 line , any ideas ?? .
 
Quote from InvestVision:

I guess
- morning drop is in tune with EURO crisis .
- then reversal shot up due to JUNE contract expiry. Think about it crude which will be delivered one month from now , the 'delivery opec guys' and ' receiving OIL refineries ' make a decision today.
even though CL market is in bear mood last few days , I guess ' Opec ' guys are not ready to deliver it at $96 on a date one month from now , so shot up ....

Of course our big hedgies are in between these 2 parties as mediators to benefit major by playing a middle role holding/selling contracts as to they see fit.
More...


Good points IV

I think the HOD is in, could be a flat range to the close
 
good timing ...
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NATO said its intensified air campaign over Libya has “effectively” pushed Muammar Qaddafi into hiding as the alliance turns its firepower on the regime’s navy, hitting eight warships.

The North Atlantic Treaty Organization destroyed the ships after what it called a change of tactics by Qaddafi loyalists to mine the port of rebel-held Misrata and target NATO forces by sea, an alliance spokesman, Wing Commander Mike Bracken of the British Royal Air Force, said today.

“We have seen a significant and highly concerning increase in the activities of pro-Qaddafi maritime assets,” Bracken told reporters in Brussels after showing a video of a ship being struck. He said NATO’s decision to attack the vessels came after “long and careful deliberation.”


Wife, Daughter Flee

Qaddafi’s wife and daughter fled across the border into Tunisia in the past two days, Secretary of State Hillary Clinton said in an interview on CBS yesterday. Abdel Hafiz Ghoga, vice president of the rebels’ National Transitional Council, said at a briefing in rebel-held Benghazi yesterday that Qaddafi’s wife, daughter and grandchildren have left the country.

“He’s trying to secure a safe passage for most of his family,” Ghoga said. “The noose has tightened.”


Lost Control
President Barack Obama said that Qaddafi no longer has control of his country and that the Libyan leader would “inevitably” leave power.

“Now, time is working against Qaddafi,” Obama said yesterday in a speech in Washington on the Middle East and North Africa.


Quote from Picaso:

http://www.bloomberg.com/news/2011-...-as-nato-aircraft-attack-libyan-warships.html

101.25-41???
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Gold is holding $20 gain study
- if you notice charts , Gold and OIL rallies followed exact same time after the CL big sell off ..

Gaddafi flee chances ( week end or next week , at least perceived if not real ) should put pressure on CL towards EOD , what do you guys think ...

again you have this contract expiry

so we have
- Gold holding high, contract expiry ( Bull )
- gaddafi flee fears, EURO crisis ( Bear )

complex equation to figure out CL toward close

Quote from EON Kid:

Good points IV

I think the HOD is in, could be a flat range to the close
More...
 
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