what's happening in oil tonight? we had a pretty bearish EIA report, and the ECB is expected to cut .5% tomorrow and yet, oil is up .63 overnight. i think we failed to really break through the support line, but i'm not sure if this is just a retracement. what does everyone think? i'm happy i got out of all my shorts before the closing today.
Shorts got smashed up pretty bad. I did also but managed to scalp back to even. Now will wait for the open to see what happens. It might retrace to the low 50s before NY, from this point.
aLoha guys, i got the money into my bank account now so il upload it to my tradinga cocunt and join you all later... I had an annoying morning though cos that little git who used to live nextdoor who i had scammed into paying all my electricty bills, well he had moved out nearly 2months ago now cos he said the living cost of the flat was too expensive for him. (hes an architect) And that he was getting £200 per month electricty bills. Well the sly little git had told british gas when he moved out and had to settle the bill that i lived in the flat instead!! And so today i looked and had a letter saying i owe them £167 for last month electricty bill, and £324 for the previous 2months!! :eek: :eek: And i seriously blew my top when i saw this! Since i phoned them up and asked them about the bill and thats how i knew it was my nextdoor neighbours doing.., Cos they said 'since you closed your account on 5th febuary and gave this as the reading we have billed you for it'. And he had given them my name! SO i then had to phone my landlord, tell him i had a package for nextdoor neighbour but didnt know his address to send it to him, got his new address, then had to phone british gas up again and pretend to be my landlord and told them that i (landlord) had had a complaint from me (spanish89) about some bill and my account being closed, And then told them that it was my nextdoor neighbour who rented the flat not me, and that (spanish89) lived in the other flat which i (landlord paid bills for). And i gave them the nextdoor neighbours new address so they can track him down now and bill him!! And i can go backk to having them send me a bill every 3months for £0 like normal. As they would have to be a complete bunch of plonkers to think that they would be able to scam me into paying them for electricty!!
Yikes oil is up 6% in the uk morning...!! :eek: I have looked at gold though and seen that its now falling even though dollar is weakening, as it now inversely follows the dow instead of dollar like i had said i was concerned that it might.. So im glad i didnt buy it. For oil id like a buy at 45.86, or a sell in the 53s. Cant be bothered to look at the chart for the exact resistance levels till i get back from gym this afternoon. What levels is everyone else waiting for though??
NEW YORK (MarketWatch) -- Oil futures soared Thursday after the European Central Bank surprised markets by cutting interest rates less than expected, triggering a slump in the U.S. dollar and a rally in the euro. Crude oil for May delivery rose $2.59, or 5.3%, to $50.95 a barrel in electronic trading on Globex. Earlier, oil futures soared to an intraday high of $51.53 a barrel. "The ECB has got us rocking today," said Phil Flynn, vice president at Alaron Trading in Chicago. "It seems to be the biggest factor today. It's an amazing turnaround for the ECB because some people speculated that they might go in and buy some debt, but they turned around and cut rates less than expected and that was very bullish for commodities." The ECB lowered its key interest rate to 1.25%, a fresh record low, but most economists expected a cut of 50 basis points to 1%.