WTI @ $75.75, headed for $64 - 67

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Donald gave her her 15 minutes of fame on TV, then he gave her another 15 minutes in the White House, and look how she paid him back.  Greedy.  She wanted another 15 minutes, but she's a distant memory now.

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Everytime i saw her on the news, i almost vomited, you can see through her what an ugly person that is.  And to want to bring down Trump, what a low lowlife.Sad thing is she has a free platform on all the trump hating fake news networks, (all will be history, by the way, once trump wins again).

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Ok so WTI is acting tough at 75.54. ok so within 2 hours from now, so by 1:30 PM est WTI will hit  74.9

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7 minutes ago, Top Oil Trader said:

Ok so WTI is acting tough at 75.54. ok so within 2 hours from now, so by 1:30 PM est WTI will hit  74.9

Works for me.  Let's see if you're right.

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I wouldnt bet on it. but we still have 20 min to go.

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since we spoke last havent looked at the  dow, dont care its boring

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5 minutes ago, Top Oil Trader said:

I wouldnt bet on it. but we still have 20 min to go.

I just want it to dip down by the end of the day so I might go back long tomorrow.  Patience.

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After you go long dan, you will need patience and a lot of prayers

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3 minutes ago, Top Oil Trader said:

After you go long dan, you will need patience and a lot of prayers

Well, that's why I pray to Joe Pesci.  Joe Pesci gets things done!

Why?  Do your charts tell you it's going to languish and/or drop down more than a dollar-ish?

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Well JJ, the day is drawing to a close and oil is smooth enough to ski on.

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It's a shame technical analysis isn't grounded much in reality.  About 99% of it is hogwash.  

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Hey JJ - just wanted to point out a flaw in your thinking. Yes oil production is at record highs- but this does not mean the world is awash with oil. We always hit new record highs in production due to global growth! Until we see a global recession- the demand for oil keeps increasing. China as an increasungly emergent consumer due to rising middle class are buying more cars, their total airline travel superceded that of the US recently, they need more and more... so does india, and plenty of others as they rise from poverty into the age of owning cars and being able to consume more things in general- which all requires oil. I dont see total volume of oil required dropping for many years- decades even. So this is not a consideration in the fundamentals of oil, supply and demand- they are both growing and will continue to do so until we have a global recession...

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7 hours ago, catch22 said:

Hey JJ - just wanted to point out a flaw in your thinking. Yes oil production is at record highs- but this does not mean the world is awash with oil. We always hit new record highs in production due to global growth! Until we see a global recession- the demand for oil keeps increasing. China as an increasungly emergent consumer due to rising middle class are buying more cars, their total airline travel superceded that of the US recently, they need more and more... so does india, and plenty of others as they rise from poverty into the age of owning cars and being able to consume more things in general- which all requires oil. I dont see total volume of oil required dropping for many years- decades even. So this is not a consideration in the fundamentals of oil, supply and demand- they are both growing and will continue to do so until we have a global recession...

I posted something similar couple days ago regarding unstoppable incremental oil price will and going to hit another global recession. 

Would you please share any further thoughts of when or by what metrics, indicators or events would most likely cuz the recession?

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(edited)

15 hours ago, Top Oil Trader said:

After you go long dan, you will need patience and a lot of prayers

Jesus Christ how is anyone still listening to you here? Once I thought you actually had some sense.

Are you really advising people to bet counter trend and catch the top? Really? 🤦‍♂️

This is my analysis of Brent that can actually help someone.

qTZ0m51X

Edited by drdanger
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I’ve been following this and the previous thread for some time, and Jesus Christ indeed. Top Oil Trader freely admits in previous posts that he has very little experience trading, well, oil. Kinda strange.

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(edited)

12 minutes ago, K-S said:

I’ve been following this and the previous thread for some time, and Jesus Christ indeed. Top Oil Trader freely admits in previous posts that he has very little experience trading, well, oil. Kinda strange.

His name should be bottom oil trader

He also mocks FA thinking it's a waste of time while his TA is literally never right

Edited by ATK
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4 hours ago, drdanger said:

Jesus Christ how is anyone still listening to you here? Once I thought you actually had some sense.

Are you really advising people to bet counter trend and catch the top? Really? 🤦‍♂️

This is my analysis of Brent that can actually help someone.

qTZ0m51X

What's your play here? Bulls like a freight train so my strategy has changed to just buying the dip till November 

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Wrong prediction again.

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2 minutes ago, Jesse Man said:

Wrong prediction again.

In all fairness, this market is completely irrational, we just had an 8 million crude build and here we are climbing in price. Literally makes ZERO sense

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1 minute ago, ATK said:

In all fairness, this market is completely irrational, we just had an 8 million crude build and here we are climbing in price. Literally makes ZERO sense

Yeah I don't think its possible to predict the prices.

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Just now, Jesse Man said:

Yeah I don't think its possible to predict the prices.

You can when the market actually looks at real numbers, but I'm at a loss to explain this, can't wait to see how the media explains this

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(edited)

How is it not possible to predict, all very logical. DIP get liquidity, boom rocket boost to next level. Advising people to short in a bull market is irresponsible in the first place. I went long at $71 Brent when JJ was trumping doom and gloom or changing his ideas every other day stating he hasn't had time to look at charts. Since then have just been adding on dips, checking retracements, playing the ranges (boxes on chart). Until market tells us otherwise we are in a continuous uptrend and if you try to make sense of FOMO news which are always either too late or downright incorrect then you shouldn't be trading.

I agree we should have caution here as we are approaching some heady heights and when CNBC starts calling silly numbers and sniffles in a new "bull trend" you know you should be on guard. But until such time when market tells us otherwise its a bull market end of story.

Edited by drdanger
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Oil reaches $76 above......is this a good time to enter the market for averaging out if I had short?

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