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Teddy100 the oil price has reversed and going higher but how comes all oil majors in US are still down big %. What i noticed is that everytime oil stocks in US close down they open UP in London??

Goldman Sachs on cnbc... Goldman Sachs says an oil price correction as deep as 20% ‘may already be underway’

Hmmm. Gulp after reading this..will the rally fizzle out by Friday??

No didnt jump in. Goldmoan sachs the vampire squid on cnbc: Goldman Sachs says an oil price correction as deep as 20% ‘may already be underway’...full article on cnbc. Not sure if 3.50 is a valid support level??

Looking at chart and volume trends, short and long term is 3.66 the new support level???

It has bounced of this level a bit so wondering if this is the support level? Seems to be the case,,,weighing up a modest investment at this level

Crude inventory figures tomorrow, who's trading long and building a position today????

If Brent going to be back at $50 by Q3 then why Loony weilding the axe at BP....10k gonna be out of a job soon!??? It means oil will stay lower for longer.. but as you say who really knows.

Rylidan - ftse goes up slowly but comes crashing down all too quickly! Futures were very positive but gone very negative..probably following the US futures turn negative...

:-) Teddy100 lets hope for a £3.70p start tomorrow then! Me reckons goldman and MS just want to create volatility so they can get their trading houses to make more $$ in any direction. A 2.38% finished would imply marking up the close price today by that amount so that's £3.74 - but know its not as simple as that. Got these dreaded futures going downwards to $40 right now...that has been the case all day so wonder why BP in NY closed up then if oil was heading south???

Article on Oilprice.com saying Goldman think oil is heading back to $35 again. Them and Morgan Stanley...whatever they say usually becomes a self fulfilling prophecy as they have tentacles all around the markets....disappointed with the oil sector pull back at end of the day...seems things got negative fairly quickly again!!

The ftse limped along today maybe trying to second guess if the US would succumb to profit taking. Well it looks like that didnt happen so bit of a catch up tomorrow perhaps??

35 Brent: Goldman Sachs Turns Bearish On Oil and say pullback to $35 . This is a self fulfilling prophecy i think as these gods make the markets. Goldman and Morgan Stanley were oh oil is heading higher and now its going lower. Wonder if the 3.70s going to be seen again???

Come on wannabees lol! Every stock on the ftse fell sharply for a bit.. a flash crash...not stock specific...

Honestly that Loooney...why today to make a jobs announce?? Do it on a Friday gone dur8ng the euphoria of the jobs figures!!

How is that the BP ADR is trading higher over on the NYSE and BP sp in London goes other direction?? Hmmm can anyone explain that???

Did u see how fast it dropped from 412 to 4.00?? 3.50 is a good entry point. Nothing solidified at the moment. Its def not heading to 5 or even £6 yet. What price to lock in profit and what price to buy in thats all folks need to be decided on. None of this crystal ball gazing of 5 or £6 imho

Damn, I was giving BT some serious consideration, how is it they have moved up 10p in a day??? wow! Wish I'd go these at £1!!!

Markets love this kind of news but oh so no good for workers...

touched £4 blimey! Is anyone buying back in now at 3.4p or 3.50p??

This seems like a firm uptrend supported by volume. Not the scatty movements between 3.05 and 3.20? What I also see today is the SP of small tiddlers like ENQUEST and Tullow Oil etc have shot up by huge huge % amounts..it means the market is now more sure about where the oil price is heading and brent at these levels is firmly in the range that will allow these tiddlers to survive...so if market is confident to put money in these tiddlers now it means sentiment has changed...BP should go continue going higher but not of course not a i linear fashion...even it feels like that cos of the SP price going up up up in the last few trading sessions...anyone can say they should have bought more..anyone can say they should have not sold out...truth is this game is about convictions...the more you're convinced about something the more you'll put in!!