Jump to content
Sign in to follow this  

Oil

Recommended Posts

 Interesting oil chart from Michael Boutros's webinar this morning. 

 

He has taken the price action of the recovery after the 2009 major low and placed it on top of the most recent 2016 major low.

Good correlation and flagging up a possible correction coming soon. 

 

oil2.PNGoil3.PNG

 

 

Share this post


Link to post

Holy ***** you’re a better man than me if you’ve been riding this since ~30 bucks

 

Good one!

Share this post


Link to post

I remember trading 3LOI ETF at the beginning of last year when we were around the 32 USD mark. Probably a massively bad tradeidea but I went in a bit big and rode it out, booked profit, saw a pull back and ringed and repeat. Obviously you don’t want to hold too much with time decay but all in all... we had a good holiday that year.

Share this post


Link to post

notes in the EMEA brief this morning and my comment :) We gonna be going long oil on the next pull back or have we topped out?

 

 

  • Great! 1

Share this post


Link to post

A look at the weekly chart of US Oil shows the 74 level is significant previous support turned resistance and the gap up to start the week shows a willingness to keep testing the zone.

Will be interesting to see how seriously the middle eastern OPEC countries take Trump's not so veiled threat that US military support in the region is not unconditional in his recent tweet and stating OPEC was a cartel and the price of oil was too high.

1402222161_USOIL()Weekly.thumb.png.743f0a89a8622461f81320d9c5e1ccfc.png

 

  • Like 1

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
      13,162
    • Total Posts
      66,786
    • Total Members
      89,596
    Newest Member
    Majawis1402
    Joined 01/12/20 14:39
  • Posts

    • Thanks for clarifying. The support person clearly did not understand this at all, and the website is very vague! The 0.5% is something I'm used to from other platforms, and much easier to absorb as a cost on small positions when making a good entry
    • There was another fork the other day - Bitcoin Latinum - the world's largest "insured" digital asset. One wonders if every time another variant is created it simply draws away potential investors from the original version. I bet committed Bitcoiners wish these variants would all just fork off 😉 I saw something the other day that happened to mention that a Bitcoin was worth about 10 ounces of Gold.......then it hit me - would I prefer to be offered one Bitcoin out there in the ether or ten ounces of physical Gold in my actual possession? 10 Bitcoin to buy a single ounce of Gold intuitively feels like the more sensible way around as I'm certain that Gold is safe but several times less certain that Bitcoin is - so we could be out by a factor of 100! But whilst fund managers all start allocating the odd fractional percent to get exposure to Alpha for minimal portfolio downside the price will probably hold or bubble up even more. It will be interesting though  if national regulators later turn round and ban funds from holding cryptos - then they will all have to rush for the exit at the same time. Maybe that's the ultimate expected outcome.  According to Wikipedia in March 2018 0.5% of bitcoin wallets owned 87% of all bitcoins ever mined. Imagine if  transferring that 87% to fund managers at peak prices is the intended end-game before it all collapses? It would make Bernie Madoff look like a mere pick-pocket.  
×
×