US Crude

sid392

Member
Messages
84
Likes
0
Ok lets try to work this one out, if anyone is interested in chewing the fat on this one? So I trade US Crude, and after the last few months and the mood swings of this commodity, the smallest fart in any oil producing country that’s it off it goes again.

According to my charts, $43.70 (current close as at 29/12) is well above the WS1 which stands at $43.01, but just below the WPP of $44.78.

With the inventory levels 0.8m short, the market shot up (as expected) then, which is what I am trying to get my head round, and can’t figure out why, is the 134 point drop? Has anyone a clue? Or am I just blind? :rolleyes:

Not chasing my loss, I had to go into a new position to recover. Made sure that I was even, then I had enough for the day. But before anyone says it, hindsight is a wonderful thing, up it shoots to finish at $43.70. (I should have used TS) but never mind, always another day!!!! :eek:

So if there is anyone out there who wants to exchange secrets or ideas on this beast lets go 4 it?
 
sid,

The API report ( industry based report ) was released before the EIA report ( Govt based report). The API report freaked the market a bit leading to the up tick..... but then when the EIA report came out in line with consensus, that led to the pullback.... then obviously the Saudi attacks later in the day led to the new HOD.
 
Top