Member Info for downbutnotout

likely we get a retest of the WTI $51.60 support. its held for now.

Friday isn't too far away. by then may get a better idea of where oil is heading and PMO's SP.

not really. oil price still in a bad place. could see 2p on the SP early morning. gets Mrd back to breakeven.

thats why brent is taking a big hit? USD rate not just global trade risks. double whammy!

a wee bounce in the oil price. brent up 1% off the lows. looking a little better for the longs.

brent hovering just above $56..

these were 55p 27-dec. my notes show brent was 53.17 that day.

potential for more downside here. oil really needs to bounce now before the oil market closes. and just as i type brent dips under $56

whats with the smiley downBUTTnotout? you been playing with your butt plug again?

lol you beat me to it!! i was going to write that. i think a wee dip below 68p. it got to 70p quick this morning and that was before the oil price tanked. so sub 67p seems likely. maybe MMs will gap it lower at the open.

well theres a support level mid-way between the $52 we broke today and that 43/44 area. actually the fib is lower at $42.36 i think maybe it hit that level last December but didn't stay there for very long. 68p would be a good buy price if 51.60 had held.

68.86 close UT

day light robbery!! UT close 3.90 wtf. UT trade 2 shares lol

i thought we were gonna get a breakout today. i guess not with the low oil price.

a 2nd ext too. are we on the verge of a breakout? about time. not too shabby a day considering oil is tanking.

members, doesn't look like oil wants to bounce. often it gets a bounce after LSE close. i like to look at the oil price over a 4 hour time-frame after a support or resistance level has broken. and WTI has broken a key support level. WTI hasn't traded under $51 since around Dec/Jan time. $51.61 is a fib level on my chart.

i'm more greedy than you think :D i had a wee bit under 68p as target but looking where the oil price is now i'm glad i stayed out. if it can bouce and close today at or above WTI $51.60 then maybe tomorrow a recovery. if not then another down day for oil. i have a target in mind for WTI (its above the $43/44 level).

if this goes to 70p then its a fixed market. expect oil to rise post 4:30

sorry above 69p no can do. oil still looking v.weak.

not good..

EIA Petroleum Inventories: Crude +2.4M barrels vs. -2.8M consensus, -8.5M last week.

Gasoline +4.4M barrels vs. -0.7M consensus, -1.8M last week.

Distillates +1.5M barrels vs. +0.5M consensus, -0.9M last week.

WTI was $43/44 last December. thats main support area if $51.60 breaks.

having said that 68p could be a good punt.

markets rise. oil drops.
markets drop. oil drops.

can't win

brace yourself TR61. i think oil is about to take a big leg down.

in auction.

3rd attempt to crack WTI 53.35 coming up. be careful!