Crude Oil Futures and Crude Oil Options

Czar · #11 3rd September 2008, 10:27 AM

but the move here is just a duplicate of nymex with no mind of its own, so if our currency has distorted the original chart we cannot rely on MCX price chart, after all its a new bottom, We have to trade using $ charts, unless there is no significant currency change, IMO

uasish · #12 3rd September 2008, 10:32 AM

My problem is i can trade only what my present chart says,becoz all other factors normaly gets discounted in Price,but you are right the $ is in very high zone vis-a-vis Rs .

Czar · #13 3rd September 2008, 10:51 AM

Well its still a buy but just hanging, any further damage will delay things for quick buck... preferably this week closing should be around $114+

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alex_laxya · #14 3rd September 2008, 11:00 AM

Quote:

Originally Posted by uasish

My problem is i can trade only what my present chart says,becoz all other factors normaly gets discounted in Price,but you are right the $ is in very high zone vis-a-vis Rs .

that also baffles me,historically weak currency considered as good for commodity,but crude mcx following nymex crude, making things very interesting,...and moreover isnt it a classic arbitrage situation? i mean buy mcx and sell crude nymex( cause of weak rupee) ? or u think process has already started and thats why crude here not invaded the bottom?
i appreciate ur answer.

alex_laxya · #15 3rd September 2008, 12:05 PM

[QUOTE=Czar;213109]Well its still a buy but just hanging, any further damage will delay things for quick buck... preferably this week closing should be around $114+

can u post weakly chart ( in candle stick)?

Czar · #16 3rd September 2008, 12:17 PM

beep beep beep crude coming down & we cannot do anything since market here closed, what to do ????

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alex_laxya · #17 3rd September 2008, 01:54 PM

weekly chart seems very weak, least we hope it makes speaning candles at bottom, but hope isnt a good reason to stay in,i would put stop below that red candle,

Czar · #18 3rd September 2008, 02:05 PM

agreed but how to trade today ? any options ? already 107... should've got out y'day night, I had anticipated it testing the previous bottom (110) but now stuck... now y'day's bottom hope it holds, cause the macd hourly crossover has failed..

renu daga · #19 3rd September 2008, 07:14 PM

so finally which chrarts shoulod we take for trading crude oil

because what we have in our data is nymx data...

remember in one post,,on crude oil,,,i had psoted crude paper trade ,,short at 5200,,t went abit high,,,and then on correction came down to 5200..at end of may,,

but then it pulled at about 1000 points,,,but in may in had posted crude will smash down teh wya opur nifty had crashed,,,,and this is whta has happened...
simpel teh charts were copy of nifty,,,,pulling high
the charts of crude show 4860 si the supporting band area which will be tested agian / again,,crude is still in weak pos,,,

renu

renu daga · #20 3rd September 2008, 07:25 PM

dada..
jsut so ur recent crude oil chart,,,,of sept 1..

what does now ind suggest,,,it is true it has not gone below -1,,,but is moving in that zone of green line / blue line..

what u suggets mere touching of green lne means to add long pos,,,,or to cross which line means we rae in safe pos

renu
kindly throw some light,,,

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The Following User Says Thank You to Czar For This Useful Post:
the tape (3rd September 2008)

The Following User Says Thank You to Czar For This Useful Post:
alex_laxya (3rd September 2008)