CL Redux

I was not referring to your trade, Vis. I enjoy reading them.

I was referring to the CL price action at the time of the post. Since Jan contract we haven't had 2 dollar intraday ranges.

Like right now it's doing this meaningless drifting again.

Quote from Visaria:

How do u mean? I went back long and caught some that move, was too fast so didn't post.
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GM, been on holiday
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EIA Petroleum Status Report 10:30 AM ET
 
Quote from BlueStreek:

Where the hell is everybody?

Looking at the daily this is feeling like month and a half long continuation pattern. You have the initial fall from 100 to the highs 80's then that consolidated for a month then the drop from that range down to 84. Now we just need the 3rd leg to 78-74. I have no idea what is going on in the world but the euro is looking CRAZY! (I just got short at 1.3101) but with this dollar weakness and oil stable it just makes it feel like I should have a bearish bias.
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Watching this bear flag, with price action looking very bearish. I would reassess with price action above the 90s with a 94-95 bullish target on that break out.
 

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12/05/2012 10:30 *DJ DOE: US Crude Oil Stocks -2.357M Bbl In Wk; Seen -0.3M Bbl

12/05/2012 10:30 *DJ DOE: US Crude Oil Stocks -2.357 Mln Bbl At 371.766 Mln Bbl
 
87.85-87.95 last 15 minutes of Pit Close, very rare indeed.

Obviously, nobody wants to get out before FC deal, they think it can happen any day, and the fundamentals suck right now in oil, so you get this shit, plus all assets very correlated right now, bots heaven galore!
 
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