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- 4exNinja replied Jan 14, 2015
Trying to figure that out too. Kinda funny given it took place shortly after another "omg record US oil exploration" article.
- 4exNinja replied Jan 13, 2015
The time to buy is when your 80 year old gran tells you to sell because "she heard it on the news"
- 4exNinja replied Jan 13, 2015
I don't disagree with your fundamental analysis. All I'm saying is that until traders act on that info (which hasn't happened yet), it's kind of irrelevant for trading. Sure, fundamentally you can start thinking about longs...but technical analysis ...
- 4exNinja replied Jan 13, 2015
You're all correct...but looking at charts it's pretty clear traders don't really seem to care (yet). Brent will reach 45 today...and if that breaks, it'll head to 40 rather sooner than later. Might stall a bit at 45 like it did at 50 late last ...
- 4exNinja replied Jan 12, 2015
Not saying you're wrong, but all that really matters is how traders react to this and other info. Right now the bears still seem in the driver's seat while the bulls are passed out hungover on the backseat. Hardly any end of day profit taking ...
- 4exNinja replied Jan 12, 2015
Nooooooosedive image Entered a 2nd leg today just below 50...hoping for a push towards 40-45.
- 4exNinja replied Jan 12, 2015
Couldn't agree more. Too early to talk about upside targets imo...too many uncertainties. IF I had to guess, I'd say $70-80 (maybe $90) for brent is probably more realistic in the medium term than figures like $140.
- 4exNinja replied Jan 10, 2015
Not convinced 50 brent is really the turning point. On the H1 we saw rejection of the 50 level (first circled wick), then a small bounce and a good break of 50. Just before market close, price tried to rally up a bit again but got rejected (2nd ...
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