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- musicman007 replied Nov 26, 2008
Technical Report: In an ‘Inside Day’ pattern similar with the one we saw 3 weeks ago oil market retraced and the crude erased most of the previous day’s rally. The important feature was that just like before we broke below the 9 day and 14 day ...
- musicman007 replied Nov 24, 2008
Update 24th Nov 08 — A late post as I had connection problems Technical Report: Friday’s trading activity once again established fresh lows continuing to add momentum to this relentless down trend. As we mentioned in the last ‘Oil Comment’ ...
- musicman007 replied Nov 21, 2008
Update 21st Nov 08 — Technical Report: As we said yesterday, something had to give, and it was no surprise to see it was the $50.60 support level considering the bearishness of the current chart. This downtrend has provided us with small ...
- musicman007 replied Nov 20, 2008
Update 20th Nov 08 — Technical Report: We have reached the point on the chart where something has got to give. The market bounced off the important $50.60 low yesterday forming a double bottom but once again failed to rally above the downtrend ...
- musicman007 replied Nov 19, 2008
We are dithering around the $50 level and its a very strong psychological support point. If we break this I can certainly see a relativley quick fall to the next level of $40pb. A lot also depends on just how much the OPEC countries decide to cut ...
- musicman007 replied Nov 19, 2008
Update 19th Nov 08 — Technical Report: We saw one of the smallest daily ranges for a while yesterday, under $2. With the 9 day moving average and the downtrend line joining forces to be resistance at the same level throughout this week a lid ...
- musicman007 replied Nov 17, 2008
Update 17th Nov 08 — Technical Report: While Thursday’s ‘Doji’ gave a boost to prices on Friday, they ran out of steam on the downtrend line suggesting that the trend is very much in tact and rallies will continue to be sold at relevant ...
- musicman007 replied Nov 13, 2008
Update 13th Nov 08 9.00 GMT — It was no surprise to see a large fall yesterday as the market dropped out of the consolidation period of the previous two weeks where it tried, and failed, to stage a recovery. A close today below the opening ...
- musicman007 replied Nov 12, 2008
Update 12th No 08 — Crude made new lows in yeserdays trading session and very important it setled lower t hus giving us the bearish signal. So after a period of consolidation when the 9 and 14 day moving averages were about to cross the new ...
- musicman007 replied Nov 10, 2008
Oil Update 10th nov — Probably the most significant feature of Friday’s activity was t he fact that we didn’t make a new low at the end of the week. The ‘Inside Day’ had half the range of the previous day but failed to challenge the lows ...
- musicman007 replied Oct 31, 2008
I will be away next week — I will be away in Mumbai next week w.c mon 3rd Nov so may not get chance to do updates as often - so they may be somewhat sporadic.
- musicman007 replied Oct 31, 2008
Update Friday 31st October — As I mentioned yesterday, for the short term rally to continue it needed a convincing break above the 14 day moving average, and it failed to do this. The subsequence was a drop back down below the 9 day moving ...
- musicman007 replied Oct 31, 2008
The Oil market is finding some strength on the back of the stronger global equity markets and buying from speculators who feel t hat this market is now oversold. While it is true that the down trend could afford a decent rally without showing signs ...
- musicman007 replied Oct 31, 2008
Just trying to match your charts with mine, what TF are you using and is this WTI instrument ?
- musicman007 replied Oct 31, 2008
I mainly trade Brent only and have done for a few months now. The key trade times for me are at open in the UK 7.15am through to 10am - usually quite a bit of movement in one direction, and also around 3pm to 5.30pm UK time - after that things get a ...
- Oil Trades and outlook
This is a new thread aimed at passing on info which I have learned and benefited from together with ...
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