Technical outlook on Crude

What do you think?

  • Agree

    Votes: 23 53.5%

  • Disagree

    Votes: 14 32.6%

  • Don't know

    Votes: 6 14.0%
  • Total voters
    43
Quote from usman88:

I expect market to retrace to 10310-10330 level tomorrow. I am short from 10465
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market bounced back from 10290. I added another short from 10530 earlier today. I should have also shorted from 10590 but was a bit scared. lol
now i feel that a short from 10630-10650 would be a good trade for a dollar or two.
 
Quote from usman88:

i feel that a short from 10630-10650 would be a good trade for a dollar or two.
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hit a high of 10653 and now its at 10399. I got out at 10485 btw
any predictions for monday anyone?
 
Quote from usman88:

hit a high of 10653 and now its at 10399. I got out at 10485 btw
any predictions for monday anyone?
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I'm not trying to say anything about your trading or anything usman88... this kinda has the feel of a short squeeze...
Oil bears probably feel glad the South American Oil production looks like it's going to be somewhat safer now.

$12500+ an I'll sell a little with the bears :)
 
Quote from Emini_Elvis:

I'm not trying to say anything about your trading or anything usman88... this kinda has the feel of a short squeeze...
Oil bears probably feel glad the South American Oil production looks like it's going to be somewhat safer now.

$12500+ an I'll sell a little with the bears :)
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short squeeze? I guess thats relative because usually my target is 10-20(10-15 per day) cents although i also go for 75+ cents(1/2 per day) moves. As I said earlier I am a daytrader.
 
Wow!!

This is unbelieveble. Everytime the oil sells off - it makes intraday highs.

At what point can you say the trend has changed?

I think the its all a bit overdone - but dont want to go short until im really sure - any ideas anyone?

Currently trading $107.60

If the figures come out bullish on Weds - there will be no stopping this thing...............
 
Quote from whattosay:

Wow!!

This is unbelieveble. Everytime the oil sells off - it makes intraday highs.

At what point can you say the trend has changed?

I think the its all a bit overdone - but dont want to go short until im really sure - any ideas anyone?

Currently trading $107.60

If the figures come out bullish on Weds - there will be no stopping this thing...............
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Yeah, I still am scratching my head this morning after the 10:30am open. Tried a little to the short side above $106 after the spike up and quickly got stopped out. I'm going to wait for a better spot to get back in. Oil is too crazy right now... too much whipsaw action.
 
Yeah same here, cant really see any major fundamental news for the move. Looks like no sellers really want to stand in the way of this.

WTI has moved from a low of 98.90 last tuesday to a high of 107.85 today. Thats nearly a $9 move in less than a week.

Im pretty new to trading the crude futures, but they make trading the dax or bund a walk in the park LOL

Not really used to this sort of intraday and daily volatility. I can see why a lot of rookies/noobs get absoloutly smoked in this market. :confused:
 
Quote from whattosay:

$109.72 high today!

Thats over $10 in a week.

Anyone brave enough to pick a top? :eek:
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Nope. I will play either side short term but being short is definitely riskier long term at this point.
 
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