Where is oil headed? 45 or 79?

7 minutes ago, Top Oil Trader said:

Aplaque u said it wont go to 55. it is now 54 again, so watch and learn. 

there is something to learn ... you read your posts ... :)

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Aplaque as you know i dont come here too often, and i realize when im not here you try to fill in, badly i must say. So when i do come here, try and learn, instead of insisting you are always right.

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13 minutes ago, Top Oil Trader said:

Aplaque u said it wont go to 55. it is now 54 again, so watch and learn. 

Wait, you will again make a fundamental forecast that the price will go above 54. I believe in you. :)

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33 minutes ago, Top Oil Trader said:

Aplaque as you know i dont come here too often, and i realize when im not here you try to fill in, badly i must say. So when i do come here, try and learn, instead of insisting you are always right.

what to learn from you? when the price went down you were talking about 51-49, when suddenly the price went up by 54 you saw the number 55 ... when the price suddenly went down .. you made an offended face and disappeared ... :)

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7 hours ago, Top Oil Trader said:

I just looked at some finer points on my WTI charts my 51 target was a conservative target, yes WTI could bounce up a bit, but now looks like it will eventually go below 50 too. if 50 - 46 doesn't hold, which means the Sauds have lost control of the prices, the plunge could be much worse. But again all the Sauds need to do is cut by another 500,000 mill a day, or come up with a serious excuse for a war with Iran. Blowing up the 3 iranian oil tankers did not budge oil prices. 

Here are some fundamental reasons for crude still to go down.

Explorations  going up in the  Artic by Rosneft, many small players getting into the game, even Israel just bought a production concern for 2 Billion, and the US getting more efficient by the week. Basically everyone now, and their grandmother is now getting in the game. Iran still pumping out as much oil as before the embargo.

Today the prices inched up after Saudivs reiterated their committment for production cuts.... 

 

Do you stilk think it wilk go down 

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8 minutes ago, Top Oil Trader said:

Still headed for 55, patience

So from 53.50s it is headed  towards 55? 

Trump might impose tariffs on Mexico next monday... It might drive prices below 50?

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2 hours ago, A/Plague said:

what to learn from you? when the price went down you were talking about 51-49, when suddenly the price went up by 54 you saw the number 55 ... when the price suddenly went down .. you made an offended face and disappeared ... :)

The price i believe and according to my humble opinion will break 50s and go into 40s. But we might see little jumps every now and then before that happens 

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9 minutes ago, Osama said:

The price i believe and according to my humble opinion will break 50s and go into 40s. But we might see little jumps every now and then before that happens 

This is a golden time for a top trader with his talent to determine the price of the fundamental
  he will quickly make a fortune :)

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(edited)

28 minutes ago, Top Oil Trader said:

Still headed for 55, patience

This is clear to the hedgehog :) Tell me how your success in testing the system, which you bought for $ 1000 from clever guys?

Edited by A/Plague

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Like i said, patience. I know that until it happens, it will be hard for you to understand, but a little more patience.

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Yes Osama it could break 50, im just referring now to the short term move, for the immediate time frame, so for today, into tomorrow.

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(edited)

Basically the play  was to go long at 53.25 that is still in play until 55+. It hit 54.5 and dropped but it is still in play to past 55+

Edited by Top Oil Trader

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13 minutes ago, Top Oil Trader said:

Basically the play  was to go long at 53.25 that is still in play until 55+. It hit 54.5 and dropped but it is still in play to past 55+

Does the system respond to news in Iran and Arabia and generate signals every 10 minutes?

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2 hours ago, Top Oil Trader said:

Basically the play  was to go long at 53.25 that is still in play until 55+. It hit 54.5 and dropped but it is still in play to past 55+

What we might do is that we can go sell some barrels at 53.50 plus and if it goes beyond 54.. Few then... A good selling price. 

 

No bullish news in the market of late

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2 hours ago, A/Plague said:

This is a golden time for a top trader with his talent to determine the price of the fundamental
  he will quickly make a fortune :)

Yes or he might try to not to make a fortune but earn somewhat less money.. Let's say just for recreation etc? 

But once again prices are very hard to predict. 

 

I got in at 53 and then averaged at 54 ut it was up almost 70 percent of ghe day here... The loss showing up on my screen was almost $2000. But as there was no reason for such a sharp hike... I held the position and got out.. phew... With only a little profit

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(edited)

10 hours ago, Osama said:

Yes or he might try to not to make a fortune but earn somewhat less money.. Let's say just for recreation etc? 

But once again prices are very hard to predict. 

 

I got in at 53 and then averaged at 54 ut it was up almost 70 percent of ghe day here... The loss showing up on my screen was almost $2000. But as there was no reason for such a sharp hike... I held the position and got out.. phew... With only a little profit

55+ target was false. I admit that globally it is possible to determine the approximate price for the fundamental analysis. .I reject all the ravings of our great trader about determining the price of the fundamental in the short-term game. Only technical analysis with indicators, graphics, patterns and Waves works here. I also looked at 55+, but then I saw a mistake.   do you trade only with oil?

Edited by A/Plague

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5 hours ago, A/Plague said:

55+ target was false. I admit that globally it is possible to determine the approximate price for the fundamental analysis. .I reject all the ravings of our great trader about determining the price of the fundamental in the short-term game. Only technical analysis with indicators, graphics, patterns and Waves works here. I also looked at 55+, but then I saw a mistake.   do you trade only with oil?

Yes only oil. 

 

There is still a potential for an upward movement... But once again that will depend on the whims of Iranian leader or US president and/or MBS... few announcement.. A little heated rhetoric between the countries and we might see oil prices rising. 

 

I am still looking for a good entry point to sell

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Hedge funds and other money managers sold 122 million barrels in the six major petroleum futures and options contracts during the week to May 28, the heaviest one-week selling since October 2018.

In retrospect, April 23 proved to be an important turning point when funds switched from accumulating bullish long positions and initiated a new cycle of short sales.

 

In its early stages, the shift from accumulation to liquidation was probably driven mostly by concerns the market had become overstretched and was due a correction. 

 

And hedge fund long positions still outnumbered short positions by a ratio of 5:1, more than double the 2:1 at the start of the year.

 

https://af.reuters.com/article/commoditiesNews/idAFL8N23A392

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1 hour ago, Osama said:

Yes only oil. 

 

There is still a potential for an upward movement... But once again that will depend on the whims of Iranian leader or US president and/or MBS... few announcement.. A little heated rhetoric between the countries and we might see oil prices rising. 

 

I am still looking for a good entry point to sell

you missed the best selling point .... but I do not think that the movement to the bottom will be strong

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29 minutes ago, A/Plague said:

you missed the best selling point .... but I do not think that the movement to the bottom will be strong

I am aiming for 51.50

 

Yes..may be you are right... You never know... Any statement from KSA, Iran can take prices north.. But once again...only temporarily 

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(edited)

6 hours ago, Osama said:

I am aiming for 51.50

 

Yes..may be you are right... You never know... Any statement from KSA, Iran can take prices north.. But once again...only temporarily 

:)

Edited by A/Plague

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now that we hit the 52 target should head for 55

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can reach up to 50.26

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