A view on commodities

Blackhole

Well-Known Member
crude bounced from $ 34.54 level as expected in daily/weekly lower trendline support. if upmove sustains this may hit 40/42 in next few weeks.
do u trade crude.....in indian market or using international accounts :)
 
crude bounced from $ 34.54 level as expected in daily/weekly lower trendline support. if upmove sustains this may hit 40/42 in next few weeks.
For short term CRUDE might retrace fibonacci 38.2%(from 4 dec post OPEC meeting) approx $37.5 above that crude inventories upcoming have to show some signs.
IMO 2016 non opec countries will find hard to operate at $ 30 oil. so supply from them will come down for sure but OPEC will produce at its max and by jan Iran will start producing more crude so things don't look good for crude medium and year to come. $20 is possible
 

amitagg

Crude Oil Trader
For short term CRUDE might retrace fibonacci 38.2%(from 4 dec post OPEC meeting) approx $37.5 above that crude inventories upcoming have to show some signs.
IMO 2016 non opec countries will find hard to operate at $ 30 oil. so supply from them will come down for sure but OPEC will produce at its max and by jan Iran will start producing more crude so things don't look good for crude medium and year to come. $20 is possible

20$ is 107- 42=65 *0.618= 40 -62$= 22$
Cheers

26$ is another level

30$ another

32.6/33.2 another low

Which one to take!!!??? Ha ha
 

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