Now this is a rally! I bought this morning before the report and made $2.80/bbl. I was feeling pretty good about that trade until it went up to 104.56 :eek:. I'm can't complain, it was still a great day in oil. Nice comeback from yesterday.
Technical outlook on Crude
- Thread starter JSSPMK
- Start date
Now this is a rally! I bought this morning before the report and made $2.80/bbl. I was feeling pretty good about that trade until it went up to 104.56 :eek:. I'm can't complain, it was still a great day in oil. Nice comeback from yesterday.
Guys, kill this thread already - it's getting a bit long in the tooth.
(Hopefully it won't turn into that old natural gas thread that lasted a yr between 2 guys posting back and forth).
(Hopefully it won't turn into that old natural gas thread that lasted a yr between 2 guys posting back and forth).
Nah, we should keep it going just to piss Bear Plunger off more. He doesn't have to keep clicking on it if he doesn't want to.
j/k peace out
j/k peace out
Put up a new poll on the first page and we can vote on whether or not to kill this thread. Let the people have a say. I'm feeling democratic today.
Oh yeah, and go vote in my first lady poll in Politics & Religion. Thank you.
Oh yeah, and go vote in my first lady poll in Politics & Religion. Thank you.
To finish this of I will just say that this thread has lived its course, it achieved what it meant to. Did crude go to $100 when overwhelming majority of professional analysts said "No"? Yes it did.
Main point being is that it is OK to go against a trending oscillation as long as there is a valid reason for doing so.
Stay lucky guys!
Main point being is that it is OK to go against a trending oscillation as long as there is a valid reason for doing so.
Stay lucky guys!
Yeah, but the title of this thread is "Technical outlook on Crude". That is a very general topic. In regards to natty gas, the longest thread I saw was this one:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=98768
It had 17K views but I don't think this is what Bear Plunger was talking about. Maybe he will be annoyed enough to come back and tell us now.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=98768
It had 17K views but I don't think this is what Bear Plunger was talking about. Maybe he will be annoyed enough to come back and tell us now.
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I know we look at various indications when monitoring trends/turns etc, this is what I look at, basic as it is on so many occasions it stands out above so many other more complex analytical tools. If you notice the distance between 2 lines you will see that it is kept rather constant which indicates strength in this current bull trend. But histogram is lowering and putting in a divergence at the same time. I would only look for a major possibility of a retrace when histogram starts bending even more towards that centreline. When & if that happens the way I like it to look I would then switch on all my lower time frame charts anticipating a retrace taking all appropriate sell set-ups.
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1820555>