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Ben, I hate to do it, but I’m blocking you. I once had a lot of respect for you, but you appear to be trying to mislead people. You have been consistently wrong in your post all the way up from $62. I’m really sorry I’ve come to this conclusion but you have become a distraction. I wish you well anyway.
Trump wants cheap oil to help maximize his tax cuts as per Johnny Cash’s explanation below( I agree with Johnny’s assessment). However, WTI is a commodity, not a stock, so can Big Orange really have much affect if any on the price of a commodity by tweeting his feelings about price of oil? Supply and demand rules, correct? Comments?
all probabilities but i have used the same strategy for new highs for decades .. which is > short at 1.13 extension (almost always retraces) > if new high is not false breakout then it will retrace .34 or .382 then hit 1.272 (happened) > after 1.272 it will try 1.13 again and if it bounces (happened) it will go for 1.414 .. highest new high can go without major pullback is usually between 1.618 and 2 .. sounds complicated but really simple .. https://invst.ly/78ekw reason why i think it may go to halfway bw 1.618 and 2 > rarely very rarely price would close above .34 retracement and reverse without hitting .382 .. enjoy your weekend .. https://invst.ly/78ema
Shaishav Patel if you understood what i wrote it would be 6778 support (1.13 ext) .. if that's broken top is already in .. if it breaks 69 (1.272) it will go for 70.22 (1.414) ..
Good morning! I broke even on scalps yesterday but I did very well on a June sell. Looking forward to returning to the US and trading in my normal hours GLTA
A lot of people shall take profit on crude next monday, because Trump wants oil lower, 70 has become an illusion, for now. Crude very bearish coming weeks, waiting on Trumps actions to get oil lower. Sell the past rally and sell every future spike next weeks. First target 65, then 63 and even 62 could follow.
CME showing May crude closed at $68.38 and June at $68.40. Investments.com showing $68.28. StreetSmart shows June at $68.06. It’s multiple choice! Bears choose StreetSmart I’m sure. It was a good week for us longs anyway.
If this is correctional wave it will be set of 3 or 5 and first tgt is bottom of w4 to create head n neckline - 58 than wave B for right shoulder 65-67 and down we go to.....flip me as low as 45 hahahahah but realistically I'd say 55 maybe lower
Next week it's going to be the real sell off in crude, Trump wants oil lower, I'm sure he's going to manage that somehow. Like I said before, crude stays bearish for now. Sell every spike next week.
RoughNeck Magoo High oil prices are bad for US economy. Driving season is coming, every extra money people need to spend on gas in the gasstation, they can't spend on other things. The rise in gas prices is beginning to cut into the disposable-income gains from the tax cuts Mr. Trump signed, into law late last year, so you can be sure he going to something about that. Coming weeks oil, shall be very bearish.
RoughNeck Magoo because trump cares about votes. The cost to fill up the gas tank matters alot to a fair number of trump voters. Now whether he is saying to just curry favor or if actually plans to act are two separate things. Releasing oil from the SPR would bring prices down so he does have the capability.
the down trend had not finished before price made big revert since 13:30. something happened there and it won't stop the down trend next week.big drop coming in coming week
Becky cuz there was a group of bulls about half an hour before my post asking where the bears has gone??? Reversal confirmed - it was painful shorting new highs but now it's time to enjoy the ride.
Trump May Be More to Blame For Higher Oil Prices Than OPEC. The oil cartel has done well to stabilize oil prices over the past 15 months, but the latest commodity surge could have more to do with geopolitical concerns brought about by the president himself.
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