A view on commodities

[Dax Devil]

Bloody hell, all commodities want to go down but USDinr is holding them by the hair. Shorting is pointless, and going long is out of question. Cloudy day for traders but sunny day for brokers.

 

[Dax Devil]

Short from where I left off on friday. 3002 to 2918. Perfect home run. Time to turm off terminal. Goodnight king crude.

 

[DSM]

Crude : H&S on weekly chart....

 

[TraderRavi]

crude looking very weak , may be time to dip below 42 /43 ?

 

[DSM]

TR,

Besides chart pattern, there is a glut of inventory. However, we need to see weakness on the chart in the higher TF. Crude is known to make quick volatile moves in either direction. If trading 3M or 5M, 15M chart should show weakness. But to answer your question yes, seems crude is funadmentally and techically weak. Saudi's reacting to a question by making a statement on low price of crude as : What pain? Means that they :

* Are not willing to give up on market share.
* Have not changed their strategy on falling prices.
* Want to drive out marginal producers out of the market, even if it means low prices.

Means crude can go lower still......

crude looking very weak , may be time to dip below 42 /43 ?

 

[Dax Devil]

..Saudi's reacting to a question by making a statement on low price of crude as : What pain? Means that they :

* Are not willing to give up on market share.
* Have not changed their strategy on falling prices.
* Want to drive out marginal producers out of the market, even if it means low prices.

Means crude can go lower still......

What pain? Well, how about the pain of Al Burz going through their backsides in near future, taking them back to sand dunes? That will be the day.

 

[TraderRavi]

as per MCX holiday page link, 11th october trading timings was 6 pm to 8:30 pm, in reality it was 5:45 to 7:30 pm.
found a circular in their site. they should have updated .
tomorrow it is from 5pm to 11:55 pm as per that link.
http://www.mcxindia.com/marketoperation/tradingsurvaillance/tradingholidays.htm

 

[Dax Devil]

Crude is always rude. King it is after all! Keep going, break the camel riders' back. :lol:

 

[Dax Devil]

Crude is always rude. King it is after all! Keep going, break the camel riders' back. :lol:

2695 done. 11 points above intended target but crude is a rude king not a bonded slave, so have to respect the black-blooded royality

 

[meet444]

Crude heading to 38? Is it possible