staying out until the dust settles. tempted to get in but don't want to give up anything at the end of the week.
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Disliked{quote} 1st chart is stats arb chart showing the price of Oil vs other highly correlated markets. When they deviate the CL is either underpriced or overpriced vs the broader market. The institutions will then either buy or sell oil (depending on if its trading at a premium or discount) and do the opposite trade on one of the other correlated markets thereby creating a hedge. They could also do outright trade on oil and hedge themselves in the options market. The second chart is a chart showing level two data and I am able to see where they are putting...Ignored
Disliked{quote} with the move that Russia pulled on opec. i doubt this is the bottomIgnored
DislikedBlack swan event in oil this weekend as the Saudis are increasing output in a price war against Russia! https://www.energyexch.com/news/9850...inning-all-out I hope nobody went into the weekend long.Ignored
Disliked{quote} I disagree. It has moved almost 500 points from the low at 43 encountered resistance at 48 but has struggled to go much lower, which would indicate its more likely to break that resistance and continue going higher. Time will tellIgnored
Disliked{quote} Time told The price will continue to go lower until Wednesday ahead of crude oil inventories release.Ignored
DislikedI think I'll just post as I do and give my thoughts from the charts, much advice coming mainly from news interpretation but I am ignoring this for now and will take another look at the charts tomor Initial thoughts ...possible limited downside, if we move above 41.85 I think this could bring 43.63 back into play, bullish above this level. I'm not in the market atm but nothing would surpriseIgnored