We had a nice long entry this morning on the oil futures at
around 7 am. Maybe that is the only thing you should worry about.
We are at the 100 MA for 240 min chart now. Bit of trend line
here.
Traders must think the big fall in rig count will curtail
supply...also short covering when price fails to go down. The
dollar pulling back also helps as Alex stated.
Steve, if inventories were greater
Posted by frtaylor on 25th of Mar 2015 at 11:47 am
Steve, if inventories were greater than expected, why is oil up? It's so hard to understand any market, but oil especially!
We had a nice long
Posted by zenman on 25th of Mar 2015 at 01:26 pm
We had a nice long entry this morning on the oil futures at around 7 am. Maybe that is the only thing you should worry about. We are at the 100 MA for 240 min chart now. Bit of trend line here.
What's the dollar doing? The
Posted by a_l_ on 25th of Mar 2015 at 11:51 am
What's the dollar doing? The correlation across multiple timeframes is over -.95.
Traders must think the big
Posted by steve on 25th of Mar 2015 at 11:50 am
Traders must think the big fall in rig count will curtail supply...also short covering when price fails to go down. The dollar pulling back also helps as Alex stated.
And there's also the possibility
Posted by puma on 25th of Mar 2015 at 12:37 pm
And there's also the possibility that big money smells a geo-political event that will be bullish for crude.