Charting The Stock Market
Is the Crude Oil Market Oversold ?
Crude Oil Price rebounded with heavy Volume and close at high. This is a very bullish signal.
Discussions
3 people like this. Showing 50 of 52 comments
Gray beg to differ crude haven't hit bottom at 20 per barrel yet, the lowest was 10
2016-01-25 14:56
those oil producing countries could be taking up large future buying positions heavily,speculators who short will get caught at expiry date to close position causing the price to go up. those with money not having oil taking up short position would be in the hot soup at expiry time ...
2016-01-25 15:00
Charts cannot tell you the far future....but this is a classical price volume reversal pattern.
ed by PlsGiveBonus > Jan 25, 2016 02:56 PM | Report Abuse
Gray beg to differ crude haven't hit bottom at 20 per barrel yet, the lowest was 10
2016-01-25 15:05
Whether chartist, fundamentalists or behaviorist.......the only valid conclusion is up.
There is no where to go but up.
2016-01-25 15:08
Now i know wat ppl said. Know little bit. Act expert.
Sek siu siu. Pun doupiu.
Desa is exactly such a person.
2016-01-25 15:50
So now is your chance to short crude oil now
It seem to be following your prophecy
2016-01-25 16:05
Gray very smart Djia up he win
Djia drop he win
Crude oil up he win
Crude oil drop he win
2016-01-25 16:10
Gray....like you jump here jump there there is no way you can make money.
You have no opinion and just control by emotions and noise.
Be a bit steady la.
We will see over the next few days.
2016-01-25 16:13
I have seen chicken trying to teach duck swimming.. nevermind. As long as u feel happy pretending as sifu. I wil just ignore u.
2016-01-25 16:16
Gray didn't did any wrong
We should worship him
His prophecy save thousands of life
But it didn't save us only
2016-01-25 16:17
I have no respect for headless chickens........
Jump here jump there all at random and all control by reflex.
Pre mammalian brains is what biologists will say.
2016-01-25 16:23
Iseyymann...don't quarrel lorrr...now we may have another problem to cope with...massive scandle about to erupt at tabung haji?!!
2016-01-25 16:27
If today bursa open . Morning everyone chase oil stock. Now busy cutting losses.
2016-01-25 16:28
Tengkuleesai,can you pls elaborate what massive scandal at Tabung Haji that you are referring?Don't lah keep us all in suspense!
2016-01-25 16:37
Keep this joke
Can laughtilldie.
983 posts
Posted by Desa20201956 > Jan 25, 2016 03:08 PM | Report Abuse
Whether chartist, fundamentalists or behaviorist.......the only valid conclusion is up.
There is no where to go but u
2016-01-25 16:39
gray.....whether the reversal holds is whether the bottom (28) is breached again, not whether the day ends in green or red.
2016-01-25 16:56
nothing concrete., winners play with probabilities losers play with emotions.
2016-01-25 17:03
so scared, go play with Fixed Deposits la.............futures markets not for you.
2016-01-25 17:08
Gray go lick OTB's arse,he may teach you something.I see your comments now wanna vomit.Diu nia seng!
2016-01-25 17:17
Ai yoh you guys better stop attacking each other not good for your karma,lol!Gray and Desa must have made many enemies.If that's the case examine how you speak.I being a strong Buddhist believe in karma.Don't do what you don;t like people to do onto to you.You will get it one day.Not too late to change for the better,lol!
2016-01-25 17:39
If mime can laugh
Posted by gray > Jan 25, 2016 12:56 PM | Report Abuse
If shorty start shorting big at these 32 level. U can see 22-25 soon.
I donno if they r doing it. Need to watch few dwys.
2016-01-25 19:35
There is still another wave down for Crude Oil... that's according to Elliot Wave International... which I concur.. enjoy wave 4 while it lasts...
2016-01-25 20:51
Crude oil oversold ??
Mau Tanya 1 simple question boleh ka ??
Iran oil production sudah start ka ??
Are this USD 30/b including oil supply from Iran ??
2016-01-25 21:13
Skpetro 23 call warrant ... 100k .. Cost only 5k now, Expiry in nov 2016 . You got 10 months to play . By september 2016 oil should reverse to 40 at least . Strike price 2.38 . If you think skpetro will be 2.00 by october or any time prior to that , 521823 will definitely gv a decent return. The worst that could happen you lose 5k . But the return could be 150% pr more . Risk all yours.
2016-01-27 01:18
With the oil volatility you can lock profit early when oil up and reenter when down
2016-01-27 01:24
Be xtra careful.. study the real facts. The increase in oil prices currently are merely based on hopes.. supply to decrease on crude output cut?
2016-01-27 01:40
Commodities
Oil surges on hopes for output cuts to trim glut
By Reuters / Reuters | January 27, 2016 : 7:20 AM MYT
NEW YORK (Jan 27): Oil prices surged on Tuesday, settling more than 4 percent higher as investors found reasons to hope for output cuts that could eventually reduce one of the biggest global supply gluts in decades.
Crude jumped after OPEC renewed calls for rival producers to cut supply alongside its members. More buying emerged after U.S.-based global oil producer Hess Corp said it planned to cut capital spending by 40 percent this year.
After settlement, other U.S. producers announced spending cuts.
Brent crude settled up $1.30, or 4.26 percent, at $31.80 a barrel, rebounding from a decline at the start of the session to top out at $32.72.
U.S. crude rose 3.7 percent, or $1.11, to settle at $31.45 a barrel. During the session it rose as high as $32.41.
The contract briefly turned negative in post-settlement trade after data from the American Petroleum Institute, an industry group, showed a larger-than-expected inventory build in U.S. crude stocks in the week to Jan. 22.
Still, Crude stocks at the Cushing, Oklahoma, delivery hub fell by 664,000 barrels, API said.
Some analysts had expected a fall in the inventory at the delivery hub as Canadian oil sands producers start to cut output.
U.S. government data on U.S. crude oil stocks is due on Wednesday.
Saudi Arabia, kingpin of the Organization of the Petroleum Exporting Countries, and top non-OPEC producer Russia are showing signs of flexibility about agreeing to tackle the global oil glut, the oil minister of Iraq said.
Worries about the Chinese economy limited crude's gains. The country is the world's second largest oil consumer.
Last Wednesday Brent hit its lowest price since November 2003 at $27.10, before rebounding 15 percent on Thursday and Friday.
Tim Evans, energy futures specialist at Citi Futures wrote in a note that "it remains uncertain whether Saudi Arabia and its allies within OPEC are ready to return to the bargaining table" to negotiate cuts in crude output.
"Without Saudi Arabia on board, there's simply no deal and the market will be left to rebalance naturally as non-OPEC output declines, a slow and still painful process"
Even with oil's near 20-percent drop to 12-year lows, major OPEC producers have not reduced production. Some, like Iraq, plan to boost supply.
OPEC's Gulf members have insisted OPEC will not cut production alone, which would cede market share to rivals.
David Hufton of oil brokers PVM reckons an agreement could put oil back in a range of $40 to $60 per barrel.
Following the Hess announcement of spending cuts, traders said they expected similar steps from other U.S. producers.
"I think you're going to see more capital spending cuts - it usually happens when prices start to bottom out," said Phil Flynn, analyst at the Price Futures Group brokerage in Chicago.
"It's significant that the market is now reacting positively to positive news, which means some of the fear is now starting to subside."
After crude settled, North Dakota's No. 2 crude producer Continental Resources Inc said it would slash its 2016 capital budget by 66 percent. Noble Energy Inc also said it will cut spending about 50 percent this year.
Traders also watched the dollar as U.S. Federal Reserve policy makers opened a two day meeting on Tuesday.
The strength of the dollar has made oil more expensive for buyers in other currencies.
If the Fed acknowledges that global markets are weak, it could reassure oil traders "that they can find a bottom" Flynn said.
"The pieces are in place for at least a temporary bottom in oil"
2016-01-27 08:16
manage to collect .05 of 521823..when i suggested last few days ...if have
..now can smile kikiki
2016-01-30 21:20
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somchik
heavy volume may indicates short covering reaping profits,closing off positions at lost for long positions ,expiry date, roll over , fresh reverse postions to net long position pushing seller to retreat with increasing price kikiki
2016-01-25 14:50