We all know that we have to go to petrol stations sur with crisis or without but we can tank as much as we have in our account.!oil is about to bottom round number 80 cheers guys Gl
Summers coming in the states. So gas will be in high demand again.
I believe a bottom has been made.
~Marcello
US gas consumption is currently down YOY and anyway that is not key to oil prices because US oil consumption is relatively stable. Marginal demand from Asia affects prices more because that demand fluctuates more.
The downtrend in Greg’s chart looks like it might still be intact. We probably saw a short-term low but with a synchronized global slowdown and Iran tensions temporarily cooler, the low for crude is not yet in this year IMO.
this is weekly on OIL. Though forming bottom but it needs to head higher to 86, else be expecting a drop......
GL...
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
Gold will not run to 1700. Flag poles and the flags on them tend to look nice when the wind is gentle and the day is sunny. However in times of hurricane flags and flag poles get demolished. That is exactly what is going to happen to that wonderful looking bullish flag picture you posted. My advice to you and others is enjoy the scenic view while it last. The pole will get knocked down and the flag will be blown away so take a picture now for the archives.
Nice metaphor Nature Buddy but I think a collapse only happens when most speculators are long, not short like they have been.
That is how energy is created to swing the price strongly in the opposite direction.
Most speculators were short gold when you wrote in May:
Originally Posted by Nature Boy
The 1530 zone was tested twice this month and support held but it will and must break.
I don't even think we will see 1600 gold again before lady 1307 embrace the bear hug.
To collapse to 1307 (and less as you expect), we first needed gold significantly higher than 1530, given that gold was already down $400 and sentiment was very pessimistic. This is why I was posting before that gold MUST first rally, not keep falling, if it is to set new lows in the coming panic (high volatility) cycle.
Given an energetic enough rally here (without lift-off), then the 1523 low could retest and possibly break. Which would be a good thing…why? Because before a market can rocket to the upside, it first must get most players to capitulate in a big fake move to the downside (your wave 9?). That is why I have been saying that a new low would be bullish, not bearish, this year (especially being 13th year). That will set up the moon shot. THAT is the move to catch … $4500 Gold baby, LOL. And at $4500 who will care if you bought at 1600 or 1500 or 1200, provided you bought in time before the 4500 moon shot. Agree?
So let’s go back to the CD design board and figure out, why did gold rise $100 from 1530 when you thought it was going to 1307 instead and would not see 1600 again… you missing an interim wave?
Also, I respectfully suggest that you have cut short the coming gold journey …. as explained in my previous paragraph, a sharp move down about which you always post (and I agree is a good possibility) will be a wave preceding a stronger wave (or cycle) higher afterwards in the long run… the train I will be aboard which some other ppl trying to pick the bottom will miss.
US gas consumption is currently down YOY and anyway that is not key to oil prices because US oil consumption is relatively stable. Marginal demand from Asia affects prices more because that demand fluctuates more.
The downtrend in Greg’s chart looks like it might still be intact. We probably saw a short-term low but with a synchronized global slowdown and Iran tensions temporarily cooler, the low for crude is not yet in this year IMO.
No...
~Marcello
Bulls make money, Bears make money, Pigs get slaughtered.
Back to business, hope everyone in UK enjoyed the holiday weekend. Seems eur/usd and indices are enjoying a bit of a bounce. May just watch the action today unless something compelling appears eur/usd looks to be heading for 1.26.
Indices have a lot of overhead though 1300 would seem to be an obvious magnet for SPX and probably 1310
On 30 mins the bull flag broke and we retested the Friday's high.. Apart from that nothing new to add but a possibility of a 1602-04 to 1660 range comes into play.. Tracking USD and waiting to confirm a break of the neck on the HNS for the moves to unfold..
HAve a feeling we could see a big move today..
ECB rate decision and if no surprises then would like to see the USD slump out for others to rally ..
1630 current resis.
1639 range top resis
1644 ::: A wild card entry resis on 4 hrs but should be a minor one
1659-60 ::: Main resis for the day higher to 1640 play..
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
All the same thing, even bank runs serve to reduce base money at the bank. Bad asset write downs are not deflationary, they're a default or an expense to the lender. So on the balance sheet the bad assets must be expensed (spending). That's why the loses erase the banks base money or the small fraction of their reserves and is why they need capital injections to puff them back up, gotta keep that ratio under 30! If the money that was lent earlier during the credit expansion does not come back it's still in the market and it's moving. So default is neutral in terms of money supply or quantity of money.
This is the big error that all deflationists make, they think default means deflation but it's not. Only repayment and proper reversals on the balance sheet would be deflationary and that ain't happening.
Skibaby, no response? I hope I'm right and you are just checking the facts. If I'm missing something between A and B followed by C then I would love to be corrected by a Chinese symbol for Whoops.
Shorting eur/usd into the 1.2520 - 1.2540 level, think it offers decent risk reward, still watching indices
indices are soaring! but let's put it in context, we are still below the level we were at only on thursday! i'm sitting on hands until after this ECB announcement, i smell buy the rumour sell the fact!
indices are soaring! but let's put it in context, we are still below the level we were at only on thursday! i'm sitting on hands until after this ECB announcement, i smell buy the rumour sell the fact!
Can't say I blame you, Indices are probably moving to test the b/o point of the flags. If you into chart patterns. Personally I think it is quite possible we see 1335 SPX and 2555 NDX on a bounce. Not an unexpected response to a first encounter with the 200 day smas
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Mr.Greg
Originally Posted by Gregory McLeod
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