If crude can take out $94, I think it could go to the 110s. The recent down move appears to be only a pullback SO FAR.
Finally broke that support. Looking much lower today .... if it takes out $86.50. And especially $85.50
Demand and fear drive the price, not so much the supply side. Fear is rising sharply while demand is shrinking steadily.
Told you so… Bloomberg this morning. Kids, always remember: free markets are a thing of the past. All markets are driven by interest—be it Fed interest rates, or interest in some objective. You’ll never see it in the news, but “Which way will they paint the tape?” is the question you must ask. Drama with our girls from the gulf… looks like we’re gettin’ back together with Venezuela again… and oil prices conveniently stay below 100.
News flash: All successful traders have "moon predictions". Mr. Suntrader, you need to step up your trading game.
It broke the upwards trend days before the Hamas attack...then it jumped on war fears. I dunno...TA says probably down, news says maybe up any day now. Im going to have a downwards bias but not about to be short over the weekends.
%% SOLD oil co ETFs mostly\ talking snake media = about 0.OOOO0o% weight with me. Good old war pattern oil\ liquidation only . Dont pay attention to non front month$ \ lower price what do they know LO\ sarcasm ?? . Front month barchart is 24% buy, 67% sell, but whats a bunch of dumb technical indicators mean LOL?? OF course barchart .com has SPYG 64% buy, not 64% in that/moves to slow in % to do 64%/ really. Not an ETF tip \ not an oil dealer..........................................-.{-Sure moon prediction -}+ miles --underwater \ miles-- underground where they pump that----- black gold \LOL
Oil up 1.4% today. You sure told us !!! You are making binary guesses based on nothing real. The energy sector is NOT correlated with broader US markets or interest rate moves. The trade here is take advantage of the choppiness to make smart entry and exit points understanding that the Oil producers are in a fundamentally supported up trend ( that's an understatement but markets aren't always rational so some of the stocks are priced dirt cheap for $86 WTI ). However, despite Oil being quite strong most have been grinding higher slowly in a tight range. My strategy today was taking some profits on some of my Oil producers, buying some Gold miners and maintaining some cash into the morning. Both Oil and Gold have been interesting areas as short trades lately. However, US Oil inventories reverted back to a draw tonight ( after a surprise build last week ) and I see futures look bullish now. So I suppose a larger Oil weight would have worked out here. I'll pull the rip cord on my new Gold/Silver miners if things don't look good for them in the morning.