Crude Oil

[fibo_trader]

Support at $60 might be a bit tenuous in here - $55 seems safer. This move caught more than a few longs flat-footed. $60 might present like a cheap put for big specs hunting stops and looking to collect a fast buck or two.

Just arrived at 50%

SELL

Next LT stop 25.3

Target = 10 bucks.

 

[fibo_trader]

New 5th world countries:

Saudi
Dubai
Et al
.....
......


Buy SUV NOW

 

[VolSkewTrader]

Implied Vol (as well as Realized) in WTI and Brent are close to the lows for the past year, and the put skew is abnormally steep relative to the calls. The options market is telling you the risk is to the downside.

 

[bone]

If you’re playing Crude Oil you’re playing the stock market.

 

[Stockolio]

If Trump Admin snaps and doesn't extend Waivers on Iran, it'll definitely raise... Other than that, it's currently following trend of Equities

They just extended waivers for Iraq, and very likely to extend every Waiver for 2019

 

[bone]

Last print October 2019: $61.00

 

[fibo_trader]

SELL SELL SELL

50% Fib retracement. Wave 2 up complete or almost.
Wave 3 down is next.
For the cheapskates who trade on 2 min., penny wise and pound foolish. ... better way, one trade only, Go short and set TP for same length as wave 1.

 

[fibo_trader]

Forgive them Father for they know not what they do! .

 

[El OchoCinco]

Brent still has upside room to go..looking for $70

 

[bone]

Forgive them Father for they know not what they do! .

Apparently the market at present doesn’t appear terribly concerned about Wave Counts and Fibonacci - it’s much more concerned with the broad equity markets and global demand.