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by Ashraf Laidi
Posted: Aug 22, 2009 3:37
Comments: 852
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This thread was started in response to the Article:

VIX, Oil, BRICS & Sterling's Sell-Appeal

BRICS equity indices fail at key fib retracements, VIX and oil near major trend lines and sterling's sell-appeal hasn't looked this good in a while.
 
asad
London, UK
Posted Anonymously
15 years ago
Nov 18, 2009 20:34
Ashraf,

Following on from the comments preceding my post, mid-Nov to December is historically a weak period for oil (fin close being the major factor). But it seems that that not many traders will be netting their position on the commodity this time (for obvious reasons). Add to this the approaching winter and oversupply of the commodity...and we have an interesting milieu! How do you read into these offsetting events?

Me...well, I believe that there's a higher probability of oil hitting 75 than 85. Trend play would be a good ploy here...but I still don't believe that oil will break-out from here (nothing to do w/ my innate pessimism on oil).

What do you think? And for the FIRST time I ask you *smiles* your OPINION on entering oil (long/short). Again, you're just a guidance - the decision will be mine!


Asad


P.S. Do I look confused...??
WM
toronto, Canada
Posts: 11
15 years ago
Nov 18, 2009 18:37
Raulin, Gunjack & Ashraf,

Oil does seem to retreat everytime from the downward trendline (lower highs), but it is hard to ignore the bullish flag. Gold had a similar bull flag and look what happened. Shorting might be scary.

Any thoughts?

Ashraf Laidi
London, UK
Posts: 0
15 years ago
Nov 18, 2009 13:06
raulin, we may see test of 81.70s today as EIA inventory could show a DECLINE due to hurricane. but yes, momentum has now started to wake up.

Ashraf
Gunjack
London, UK
Posts: 1184
15 years ago
Nov 18, 2009 10:31
@Raulin IMO the big test is if crude breaks 82.4...then next stop 85 and Happy days all round!!
raulin
london, UK
Posts: 65
15 years ago
Nov 17, 2009 21:46
Ashraf bull flag on dailies for oil looks very bullish for oil targets 85 ..yes I know 82 very big resistance but that thing does not want to go down!
speculator
Posted Anonymously
15 years ago
Nov 17, 2009 18:28
dollar index back above 75. we are clearly at a significant juncture as we have been flirting around this level of considerable time. the case for a dollar revival is probably still on the cards for elliot wave fans
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Nov 16, 2009 17:35
Abood, oil resistance falls to 79.

Ashraf
Abood26
Damascus, Syria
Posted Anonymously
15 years ago
Nov 16, 2009 16:51
Hi Ashraf where is the OIl Rest. Please
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Nov 12, 2009 15:54
abood, READ WHAT I SAID IN THE IMT ABOUT OIL FORECAST. IF WE GET A RISE IN INVENTORIES OF AT LEAST 700k OR 800k THEN THAT MAY ADD LOSSES TO OIL OIL AND GET TO 77.10. WE NEED A DRAWDOWN TO STABILIZE OIL.

Ashraf
Abood26
Damascus, Syria
Posted Anonymously
15 years ago
Nov 12, 2009 15:32
Hi Ashraf I want to trade on Oil please advice me what I should do before the store news??