with the escalating brinkmanship currently underway, the likelihood of oil trading up is increasing. this news is currently being 'under-reported', as far as 'business news' is concerned. I expect this dynamic (under-reporting) will change complexion, with attendant response(s) from the market.
Its gna fall overnight if we get any sorta peaks now.. lol The chinese and asians will want to sell it when they wakeup and see the inventory number...
Biggest crude build in 7 years. Expect some final 'bullish' talk from the BSDs so they can unload their last open positions, then watch it take the elevator down. Err....who knows.
This is why im so shocked that we barely got any drop at all! :eek: When oil was back up in the mid 140s and we had a 3.2mil it crashed down about 5 t 6dollars! And that was even when all the idiot so called experts were saying itd go to 150-180-200!! But the oil is now just tossing and turning so much as theres equal push and pull on both sides now, which makes it annoying to trade! I mean last week we had a ******** war break out right ontop of a key oil pipeline, but no-one cared and oil still dropped, when few weeks/months ago that would have been a $5 peak atleast! But then today when we get a number liek 9million the market barely bats an eyelid, and all those sellers seem to have gone off on holiday!!
If all it takes to make money in trading is news and logic, we'd all be millionaires many times over, wouldn't we?
LOL It also takes sufficient trading capital! But most people who trade don't have high logic skills, most are very dim tbh, and thats why they make so little % profit and often actually just end up the weeks and months actaully having lost money!!
Time to punish the late sellers. They should run it up to about 115-116 into the 2:30pm ring close. Not surprising.