How are you approaching "psychology levels"? Things like big figures, support and resistance?
Disliked{quote} I'm with it. How are you approaching "psychology levels"? Things like big figures, support and resistance?Ignored
DislikedThe data tomorrow may be less tradable than I initially thought. If the API numbers were any indication the forecasts are somewhat in line this week and inventories will not have a large draw or build. However, my prediction is that tomorrow we will see a draw of somewhere around 4M crude barrels which would cause a mild spike up in WTI. Depending on how the market opens in the morning I will be placing a buy with a moderately tight stop and closing my position before noon.Ignored
DislikedWe might be opening higher from this Iran stuff over the weekend!! {quote} You're on your own with the straddles but I'll be cheering from the sidelines! I haven't thrown an order into a explosive market since getting burned on a fed statement back in 2009. Scars man, scars.Ignored
Disliked{quote} Well I was pretty close on my prediction for the inventory numbers but close is not always good enough. The run up in the price of WTI early in the day was great but maybe it was what caused the collapse back down in price after the release came out. The price level is recovering a bit now but the (only mildly) higher draw on inventory than expected actually erased WTI gains since around 5am this morning. Also distillate and gasoline inventory increased rather than the forecasted decrease and those numbers deviated from the forecast more...Ignored
Disliked{quote} What ever happened with the market reaction here? WTI didn't respond in line with the reported data? Or did it? {image} {image} I don't get that reaction at all.Ignored
DislikedCrude (CL) continues to trade in a fairly tight range between $55 and $57. I suspect we'll see it break out of the range tomorrow on Powell's statements. Here's a look at how crude (CL) has performed since the weekly open. {image}Ignored
Disliked{quote} What ever happened with the market reaction here? WTI didn't respond in line with the reported data? Or did it? {image} {image} I don't get that reaction at all.Ignored
Take a look. The top (white bars) are overall daily volume. The bottom (blue and green bars) represent avg daily volume.
Disliked{quote} Did you execute a buy order? I’m spooked out of the oil trade for the time being.Ignored