Crude Oil

[countryBoy641]

Here's the twin headed monster the FED is now looking at.
$WTIC closed at a new high (Stockcharts is not showing it).
Oil is going up, and rates are going up at the same time.
Meaning ... even if the FED raises rates, what good would it do.
It's called Stagflation.

 

[Handle123]

Not that it's any of my business, but why do you think it's a major sell above $87.00 ??
Should oil producers be compelled to sell it to you at the old prices?

I use very different way of entries and hedge. It is based on last 9 year range, when price of any market gets into extreme ranges, automation seeks a pattern intraday that goes against major trends. I have Many losing trades on underlying but hedges usually make overall profits. I reversed my long position to short and can only take shorts from now on even if crude goes higher. Been using this method for 31 years, meats are best but system will eventually nail ever high/low of all futures. System does add on once reversal is on place, some trades will add on up to 2 dozen, at some point, have multiple exits either day before or day of reversal.

When Soros sold Brit Pd in 90's at highs, I did a 3 lot, fun ride going down.

 

[maxinger]

31 Mar 2023 - OPEC decided to cut output. crude oil gapped from 76 to 81

Now the gap has been closed. The price is at 74 (ie below 76).

OPEC shouldn't have wasted its resources to cut output.
Its projection about supply-demand was wrong.

 

[bone]

That’s Russia and the Saudis being stupid. Again. They shot their shot.

31 Mar 2023 - OPEC decided to cut output. crude oil gapped from 76 to 81

Now the gap has been closed. The price is at 74 (ie below 76).

OPEC shouldn't have wasted its resources to cut output.
Its projection about supply-demand was wrong.