yo handjob, Oil is up from it's lows because of something called a roll gap which happened to be $9. It has just fluctuated in a range since.
You couldn't trade your way out of a paper bag.
You couldn't trade your way out of a paper bag.
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Oil is surging ..15% rally from lows
- Thread starter stock_trad3r
- Start date
Oil can;t even rally and take out $40 on this conflict.
Oil is headed lower over the coming weeks/months.
Sell into any strength.
Oil is headed lower over the coming weeks/months.
Sell into any strength.
I'm still baffled b how it fell so much. Oil should be at 80 at the very least.
Quote from stock_trad3r:
I'm still baffled b how it fell so much. Oil should be at 80 at the very least.
Take $80 as the pre-bubble fair price, now demand has fallen by 7 million bpd while OPEC only cut 2 million bpd in prod, you get a supply glut. At least for a while.
Now all those marginal projects are getting shut down, so just wait and see what happens when demand starts picking up again...
Quote from auspiv:
for once, i think stocktrad3r might be on to something. this may be the pullback we've all been waiting for in oil. i dont want to pick bottoms, but i now have a neutral outlook on oil for the next few days.
Gee he's really on to something - noticing oil is up in the morning, and getting all gung ho about it.
believe bottom was out in place on uso today