Finding crude bottom

Discussion in 'Energy Futures' started by StockJock, Jan 4, 2007.

  1. When do you start buying into oil? Bottom?
     
  2. S2007S

    S2007S

    if temps in the northeast were normal area Oil would be at 65+ now. These warmer temps are knocking oil down hard. For some reason though im not seeing it at the pump. Paid $2.61 the other day, whats up with that??????
     
  3. TradeTheNews

    TradeTheNews ET Sponsor

    Front month crude....pivot point is $55.60 (a bit away from current levels)....but a daily close below $56 opens up the door for a move to $36.....minor resistance at $58.00 and $60 looks like a top now......OPEC will be very vocal in thei $56 to $58 range....summary: $55.70 approach should see support....but the mother of all stops of funds long oil may be lurking below $55.60
     
  4. TradeTheNews

    TradeTheNews ET Sponsor

    crude currently trading $55.77...$55.81 is closing low going back over a year for front month contract...floor trading closes in 5 minutes
     
  5. You must be in LA..
     
  6. Wake-up.
    It's 51 degrees in Greenwich, CT today.
     
  7. I think he meant he must be in LA since gas prices are that high still.
     
  8. SoFla reg/unleaded is low-mid $2.30's. Temp today was 82:p
     
  9. Ahhhhh, yes!

    I hear that they are charging between $2.77 and $2.83 for Premium unleaded out there.

    But then again, CALIFORNIA uses its own "reforumlated" gasoline and is not fungible to other markets.

    Their premium is also only 91 octane.
    Bummer.
     
  10. jasonjm

    jasonjm

    i filled up this morning

    exxon mobil station, self service, premium

    3.05 a gallon

    yip (west los angeles)
     
    #10     Jan 4, 2007