IMHO i think oil is relatively unaffected by news releases...except crude oil inventories of course.
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DislikedHello, quick update on my long Crude trade from a few days ago. Only updates are that I added some longs as last week closed (when in an uptrend, I like adding to longs at the close of scary bearish daily bars like last Friday's), and I moved stops so that I am overall with decent profit locked in. Nothing else to do than just sit and wait for hopefully continuation of the move up. {image}Ignored
Disliked{quote} Bro, not sure where you get the indication of price going down due to oversupply, anyway hope the below helps. https://www.iea.org/oilmarketreport/omrpublic/ http://www.bloomberg.com/news/articl...in-eight-years Anyway good luck.Ignored
Disliked{quote} Dear bro Kinspk, Thanks for the links I was referring to the forecast for the crude oil inventories last week >> higher than expected forecast but price did not go down. Correct me if i'm wrong.Ignored
Disliked{quote} Hello oil traders! Not much to update: I am still long, stops still in the same level as before, with most profits locked, yada yada.. {image}Ignored
Disliked{quote} Hello. Small update on my Crude long positions: yesterday I took some profits at 52.62. Stops on remaining trades still at the same level, with profits lockedIgnored
DislikedOil prices have been unsteady for some time.This majorly boils down to fears of oversupply of oil. But should ongoing talks by the OPEC arrive successfully at cutting production, we may see stability in oil prices.Ignored