Discussion in 'Commodity Futures' started by bone, Nov 7, 2018.
All who mingles with Floyd ends up face down.
I find it troubling that the Dow is up 460 at this point today but CL F19 is + 0.39.
ES up 10.00; CLF19 -0.86.
Very bearish sentiment for crude.
Well, today Crude Oil finally followed the equity markets upwards. Strong Move. My guess is that five up days in a row in the S&P 500 might have convinced some traders that the damage done in the equity markets might be somewhat overdone. And that is a bit at odds considering the continued flattening of the yield curve. So - we're still a bit on the ragged edge here. I wouldn't be surprised to see equities and oil come off here a bit as we are headed towards some near term resistance.
Equities have come off but so far CL hasn’t followed suite - if we get further selling in equities this week (we have been rangebound) I’ll be watching to see if CL remains firmer against equities as it has been thus far today.
Crude oil futures down 0.5% atm.
My call, strong rebound from here on Fri, USA time, should be good for a couple percentage minimum today and continuing up into next week.
ZH doesn't seem to understand market making.
crude oil now $47.
But just 3 months ago, someone predicted oil will hit $100.
so better trade based on what you see on the chart and stop predicting.
$100 Oil Is A Distinct Possibility
By Nick Cunningham - Sep 24, 2018, 6:00 PM CDT
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An oil price spike is starting to look increasingly possible, with a rerun of 2008 not entirely out of the question, according to a new report.
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