CL Redux
- Thread starter schizo
- Start date
If I understand correctly, a press conference from OPEC is planned at 5 PM local time, which is 11:00 EST.
Can anyone confirm?
May see the market chop around in this range until then with some violent moves during the press conference?
It`s my first time trading oil during an OPEC meeting, so I`m going to pass on this one.
Can anyone confirm?
May see the market chop around in this range until then with some violent moves during the press conference?
It`s my first time trading oil during an OPEC meeting, so I`m going to pass on this one.
with EURO and S&P small gains at this time , if there is a quota cut news from OPEC meeting , we may see a push to 84
Greek stocks soar 10% ahead of election.
http://www.marketwatch.com/story/gr...-election-2012-06-14?link=MW_home_latest_news
The Greeks will on Sunday place their vote in the second parliamentary election in two months, and market spectators worry that Greece's future in the euro zone depends on the election results.
- The focus is whether anti-austerity party Syriza will gather enough support to form a government, potentially leading to a fallout with the European Union over the country's bailout terms.
- Polls are not allowed in Greece in the last two weeks leading up to an election,
- but "secret polls" reportedly point to a victory for pro-austerity party New Democracy.
http://www.marketwatch.com/story/gr...-election-2012-06-14?link=MW_home_latest_news
The Greeks will on Sunday place their vote in the second parliamentary election in two months, and market spectators worry that Greece's future in the euro zone depends on the election results.
- The focus is whether anti-austerity party Syriza will gather enough support to form a government, potentially leading to a fallout with the European Union over the country's bailout terms.
- Polls are not allowed in Greece in the last two weeks leading up to an election,
- but "secret polls" reportedly point to a victory for pro-austerity party New Democracy.
Needs to clear 83,05 now to start the squeeze. 
Got my first target at 83,20, but I don`t think that will be resistance.
EDIT: Cleared that now. Green lights for 84 from here, IMO.
EDIT: Cleared that now. Green lights for 84 from here, IMO.
100 cent swing complete at 83,35.
I think we`re only looking at a retrace here.
The strong upleg yesterday had shallow retraces all the way with a maximum of 30 cent retraces.
I think we`re only looking at a retrace here.
The strong upleg yesterday had shallow retraces all the way with a maximum of 30 cent retraces.
OPEC keeps quota at 30 mln barrels a day:
http://www.marketwatch.com/story/op...s-per-day-2012-06-14?link=MW_home_latest_news
SAN FRANCISCO (MarketWatch) -- Members of the Organization of the Petroleum Exporting Countries Thursday agreed to keep their collective production ceiling unchanged at 30 million barrels per day, according to various news reports.
Most analysts expected the cartel to stand pat on output, though there were some concerns that OPEC would decide to cut the quota to help boost prices, which have fallen below $100 a barrel.
The market has also been concerned about the impact of European Union sanctions on Iran, with Saudi Arabia saying it would boost production to offset any loss of Iranian oil. OPEC's actual production has been above the official ceiling,
according to a Platts survey of OPEC and oil industry officials and analysts, which shows output averaging 31.75 million barrels per day in May. July oil CLN2 +0.78% was last up 65 cents at $83.27 a barrel.
http://www.marketwatch.com/story/op...s-per-day-2012-06-14?link=MW_home_latest_news
SAN FRANCISCO (MarketWatch) -- Members of the Organization of the Petroleum Exporting Countries Thursday agreed to keep their collective production ceiling unchanged at 30 million barrels per day, according to various news reports.
Most analysts expected the cartel to stand pat on output, though there were some concerns that OPEC would decide to cut the quota to help boost prices, which have fallen below $100 a barrel.
The market has also been concerned about the impact of European Union sanctions on Iran, with Saudi Arabia saying it would boost production to offset any loss of Iranian oil. OPEC's actual production has been above the official ceiling,
according to a Platts survey of OPEC and oil industry officials and analysts, which shows output averaging 31.75 million barrels per day in May. July oil CLN2 +0.78% was last up 65 cents at $83.27 a barrel.
CLose all LONGS at 8335