This should trade back to something beginning with a 60 handle next year.
CL Redux
- Thread starter schizo
- Start date
Haven`t gotten API numbers yet, but chart says pretty bad, shorts cover before report, and 40 tick drop. Hope for a bounce, and I will be getting short going into the report tomorrow.
May be able to cover before report comes out, at any rate, will know more once I get API numbers, but right now if I had to guess, we break $85 tomorrow before report comes out.
Maybe nice European pop up, short into the opening.
May be able to cover before report comes out, at any rate, will know more once I get API numbers, but right now if I had to guess, we break $85 tomorrow before report comes out.
Maybe nice European pop up, short into the opening.
yes, 3:30 ish every Tuesday CST, API comes out unless Holiday week. And with Purging going on, I expected some fireworks, large builds in products, the real question is how large will the drawdowns in oil stocks be, very bearish if only have slight drawdowns - market has been pricing this in the last week though so we shall see how support holds tomorrow, I would think the 84 level will be tested tomorrow, with some buyers dipping in before fomc announcement, but if products sell off hard, that might not matter if we break 84, just depends, we would need large builds in products, and flat oil stocks for that to happen, but this market has been worried about this the last week, reason not participating in the creeping Santa rally in equities right now.