do u recall we chatted briefly about extreme prices on here, maybe a couple of weeks ago? That's what i was doing yesterday.
CL is really solid for playing ranges that way. Every now and then I take those trades, but I still use a larger initial stop because the tiny stops seem so impossible.
Holy shit Api showing another huge draw of 7.5 mil. But Gasoline had a 6.3 mil build and dists had a 1.2 mil build. So i guess it isn't has bullish as it seems at 1st glance but either way looks like we are headed towards 102. Which means I lose
Oil down 1% since shortly after API release. 15 minutes to EIA inventory. WSJ reports an expected draw of 2.5 million barrels.
I don't recall ever seeing a draw like this on EIA. Knowing CL, price will totally retrace the move up and make new lows on the bullish news
Looking at this chart going back a few years, looks like every so often there is draws like this...(chart can be lengthen all the way to 2008). http://www.forexfactory.com/calendar.php?#graph=45632