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Rocketman

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About Rocketman

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  1. excellent piece of analysis - and right on the money !
  2. Interesting analysis Mercury - and as comprehensive as always with the charts. FWIW - the next few hours will tell - either way it will be a great ride. The Brexit is a real interesting one - the Europeans dont want it as it would effectivley end "Europe" - who will pick up our tab? - not even those Germans have the Leiderhosen pockets deep enough, the French will shrug their shoulders, the Italians and Spanish will put their hands up and claim they have no money and sulk and blame the Brits and the Greeks. The Greeks will want their Marbles back ( again) and the rest will be too busy rebuilding their borders to do anything. The next few weeks will be very interesting and we wil probably end up celebrating even more Shakespeare - " Much ado about nothing"! hee hee
  3. Some much needed light relief.... https://www.facebook.com/theguardian/
  4. Hi Mercury, This is pretty much exactly as I see it and if we clear that next fib we will go to $50 pretty quickly. Economic theory would suggest that we should have slowed the run north given that shale producers will be producing from $42 upwards and are desperate to get their wells in operation to please the banks. Also we are heading into lower normal demand given that winter is over - although you could have fooled me when I looked out of the window this morning ! I am wondering who is buying and driving up the price given that production is only marginally affected in Saudi/Russia and that could be offset by Iran, could they stockpiling themselves for times ahead ? So for now I am gearing my trades around very basic technicals and trading the trend - the trend is my friend - and watching the £/$ for any divergence.
  5. If you would like to set up a chat outside of here drop me a line at apkayoil@gmail.com and we can exchange details etc. Beats trading on your own all day .
  6. Thats exactly what I did and then I cashed the other on the next run, Also just picked up a long again on the opening drop and have just cashed that - all in all a good day. To me thi is not a market for takig long term views given the volatility and my trading style. I think Crude has to go clear 46 level first, then I dont see any real tech resistance only historic - but my point above overides all at present. Something else that is on my mind at present is the £/$ - right at a 38.2 fib from Jul last year - and given we are to a large extent mirroring we get a move down if there is a rejection.
  7. I understand where you are on this - and Crude is very similar on my charts - there is some chop ahead but we may push through 4600 up to 4700 given the market seems to have its mind set right now - I have two longs running with reasonable stop levels to allow for flutter - and am looking on buying on decent pullbacks to support levels.
  8. I have stayed safe today - traded the ups, lost on the downs, bought near bottom and ended up ok - but who foresaw that last move up? I didnt so bailed too early - hey ho. Looking at the charts for inspiration and finding...................... none. If we go up from here there is huge potential as I see it, but feel the need for a retrace to gather momentum.
  9. Well I have just had to turn my central heating back on its is so cold - so surely that will contribute to a more dove-ish outlook with demand going up ? :smileyhappy:
  10. Today's trading strategy is ........... booking a holiday, going to the gym, doing paperwork, sorting my daughters car insurance and then hitting the driving range for an hour etc. etc. - anything but getting involved in a market which has everything factored in already ahead of sunday. I have a long and a short built in - in case of a breakout but thats all. Is anyone going to trade today ? If so be safe whatever you do and have a great weekend.
  11. Great analysis as always Mercury. On WTI - I notice we have broken out downwards of the week running up channel within a channel scenario that proved highly profitable for me. The question is where do we go from here - I have some historical support at 4106 and then 3982 and the a 38.2 fib from Jiuy at 3948 - so a fair bit to bash through imho. I tend to agree that Doha could well offer little in terms of serious outcomes - but that wont stop the market makers in the short run. If no agreement we will head south fast to 3800. As I write we are around the 4106 level and psychologial 4100 - so will sit and watch what happens for a couple of hours. I have a short ready if we break south and a long if we head north - I do love breakout strategies. Will continue analysing charts in the meantime and post any thoughts.
  12. Just watching an Oil analyst on Bloomberg and the reason for the inventory drop last week was......... FOG in the channel where the ships enter the US - that amused the ***** out of me after all the the speculation. He was also pointing to this weekend and stating that how will the Saudis and Russians restrict production when they are already pumping at maximum - i.e. it shouldnt have a huge effect. all very interesting, was long from each pullback on crude today - thank you very much .
  13. I just took a hit GBP today but was lon on WTI so phew.
  14. The more I ponder this the more I look at the economics behind it. We are now close to $42 on crude - at this level the shale boys will want to produce and offload given that the US is almost full and they have loans to pay. That could have a downward effect almost irrespective of Doha - interesting times ahead. The more we rally, the more production comes back on line - but economies are not demanding enough. Will be interesting to see how many wells have opened up this week in the report. Any comments/thoughts appreciated.
  15. Im glad I didnt join that party today - was waiting for a confirmation - phew. WTI now at 61.8 fib on last major down run - lets see where we go from here. Buy on rumour, sell on fact comes to mind - as does Fergies "sqeaky **** time"
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