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