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:

this was one
I am expecting market to drop to $105 today or tomorrow
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I agree - think its a bit overdone.........

BUT it all depends on the figures tomorrow. I think there could be a very big move tomorrow either way after the inventories numbers. A bullish number at these levels will trigger all sorts of stops

Just my 2c worth.

I hope you're right Usman - im small short at the mo, with a tight stop.
 
Quote from whattosay:

Nice shout! two dollars onside already!
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whattosay are you trading the electronic contracts? Can you post an interday chart of your entry so we can see?
 
Quote from Emini_Elvis:

whattosay are you trading the electronic contracts? Can you post an interday chart of your entry so we can see?
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I trade the WTI and Brent contracts on ICE through the TT platform.

Basically i was thinking of going short and looking for a suitable entry point. I waited for the 5 min dmi to cross to the downside and entered just after 12.40pm @ 10895.

When i posted my previous message, i wanted to run the trade and was close to 2 dollars onside, but this recent bounce has just messed that up :(


I exited the trade at 10749 @ 3.10pm and am now long. (Again i used the 5 min DMI to exit). Ive got a stop at B/E but have a feeling it might get taken out so might lock in 10 points and let it run.

Hope this helps. Oh and im the UK so those are GMT's :)
 
Quote from ess1096:

From 02-07-08 12:01 PM


For those with a longer term outlook, the weekly chart has a nice flag pattern with the price currently at the bottom end of the flag.
A breakout or breakdown from that flag can be very profitable.
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Damm! I should have followed through with my own advice. I sold that long position at $99.40 and never bought it back. Thank God I didn't short it there! :D
 
Quote from usman88:

this was one
I am expecting market to drop to $105 today or tomorrow
More...

well it took 2 more days than I anticipated but I guess 2 days is an acceptable time frame if you are predicting major reversals :)

so who profited from todays moves?
 
Quote from usman88:

well it took 2 more days than I anticipated but I guess 2 days is an acceptable time frame if you are predicting major reversals :)

so who profited from todays moves?
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Me! :D
 
Quote from JSSPMK:

I see it too & IF it works then I see 92, but I look at multiday & weekly, they make me think that we could be entering different times where oil is very expensive, don't get me wrong I hate the idea of this happening.
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