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- prashfx replied Jan 16, 2020
chinese gdp / industrial production numbers came in + yest brent breached prev day high and held 64.60 pivot + 200d sma @ 64.10. good chances of a bounce today. lets see.
- prashfx replied Jan 14, 2020
expect both api and eia to show bullish. euro is turning. so overall tomo should be good day for oil to turn bk up. lets see.
- prashfx replied Jan 9, 2020
lol haha. lets see bud. very interesting mkts on crude nevertheless. we hv so confident particpants on both sides of the mkt .. that makes it interesting!
- prashfx replied Jan 9, 2020
am buying back the calendar spreads i sold earlier ref brent spot ~ 65 .. also 200ma on 4h .. dont think it will break so easily ....
- prashfx replied Jan 8, 2020
brent bk to 65 +/- levels ... higher chances it will consolidate then start next leg higher .. more like a dollar/macro move .... lets see
- prashfx replied Jan 6, 2020
as expected the massive bkwardation was sold aggressively yest. brent spot wise that 70.70 number is imp on daily close basis which makes sense why it got turned even in asia hrs. gg fwd brent rally needs 65$ to hold on technical basis but technical ...
- prashfx replied Jan 5, 2020
I am selling backwardation on brent here. i think this might be the best trades of the yr maybe. fyi backwardation this morning is now higher than 2018 and not v far from whr it was in 2013 and infact higher than 2008 levels ... does not mean it has ...
- prashfx replied Jan 5, 2020
yeah weekend always short haha. i am just posting the weekly HnS brent spot is marking .. hope it helps. right shoulder ~60 neckline ~66.50
- prashfx replied Jan 4, 2020
fyi last time we had such degree of backwardation in the mkt .. talking of brent here .. spot was trading 77-79 and the reason back then in 2018 was Iran only. I am not saying that spot will move there but the mkt is very vulnerable to go higher esp ...
- prashfx replied Jan 2, 2020
my 2 cents: brent wise it is nicely moving in an uptrend with 1st wave 56.x --> 68-69 completed after which it took a breather to 65-66. now we see this geopolitical based sudden rally bk to 69.x. such event shock based rallies might usually be sold ...
- prashfx replied Dec 31, 2019
as said earlier, i expected 2-4$ shave on brent and evidence of the fact that it wants to resume uptrend on 4h (no lower timeframe). will watch in 64-66 region for possible consolidation and then support to come in .. some profit taking is healthy ...
- prashfx replied Dec 31, 2019
time to start looking for longs .. ; )
- prashfx replied Dec 30, 2019
just be aware of the 56.15 --> 64.30 (AB) and then 60.30 --> 68.45 (CD?) legs .. if AB = CD gets completed in 68-69 area .. it should give 2-4$ retrace down atleast from here but brent expiry also coming along with next spot trading 1+$ lower than ...
- prashfx replied Dec 27, 2019
that multiple buying around 54.50-55 area and forming a base might be the key to this rally and any subsequent trend if it develops. so any retrace for long entry you might look from there mayb. next week loads of manufacturing data from EU/China/US ...
- prashfx replied Dec 26, 2019
mnthly avg is 64.60 till now for dec .. so that that number shud be support gg fwd for spot maybe ... can buy if comes close ... if trending mkt.
- prashfx replied Dec 25, 2019
brent mkt made a new high actually .. i am trading more of that. wti seems relatively weaker. but again brent expiry coming soon so will have some volatility around that. nevertheless i attach some probability of having a Oct19 - summer-2020 rally ...
- prashfx replied Dec 24, 2019
moving as expected. $68.40-75 should complete the $12.60 wave from $56.15. after that maybe we can see $3-4 drop even if the upwave is to continue.
- prashfx replied Dec 24, 2019
looking at last 48 hrs trading price action .. brent spot can have few strong green dailies to 69-70 area possibly ... support at 65.70 in place
- prashfx replied Dec 23, 2019
subjective ... haha
- prashfx replied Dec 22, 2019
nice chart. brent wise expecting buyers to come at 65.23-31 area should there be a drop .. also around 23% retrace of the rally from major swing point 60.28. lets see.