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Posted: 8/27/2015 9:24:29 PM EST
I'm no chart guy but it appears to me crude broke its downtrend today. A 38% retracement of the move would target you around $47. With short covering I could see it getting there fairly quick. Might be worth the gamble on a trade.
Link Posted: 8/28/2015 8:02:11 AM EST
Originally Posted By Glock63:
I'm no chart guy but it appears to me crude broke its downtrend today. A 38% retracement of the move would target you around $47. With short covering I could see it getting there fairly quick. Might be worth the gamble on a trade.
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How you plan on playing it?
Link Posted: 8/28/2015 8:45:20 AM EST
Went long two days ago with UWTI 3x ETF. Bought In at $0.78 per share. these leveraged ETFs can be scary and can pay big in a hurry but also lose big in a hurry. Only put about 2% of my investment account into it.
Link Posted: 8/28/2015 11:44:08 AM EST
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Originally Posted By tnburban:
Went long two days ago with UWTI 3x ETF. Bought In at $0.78 per share. these leveraged ETFs can be scary and can pay big in a hurry but also lose big in a hurry. Only put about 2% of my investment account into it.
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I would love to see a simulation of that ETF's variance while crude is in contago.
Link Posted: 8/28/2015 1:50:27 PM EST
It does seem to be bouncing back significantly the past few days, who knows, maybe we FINALLY hit the bottom.
Link Posted: 8/29/2015 9:48:05 AM EST
With normalization of relations with Iran, there should be more oil on the market. Wouldn't this increase in supply affect the price by driving it downwards? M-T mines (empty minds) wanna know.
Link Posted: 8/30/2015 9:32:21 AM EST
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Originally Posted By 4v50:
With normalization of relations with Iran, there should be more oil on the market. Wouldn't this increase in supply affect the price by driving it downwards? M-T mines (empty minds) wanna know.
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crude fell when the deal was announced, may be priced in already. They still need to build out the infrastructure though
Link Posted: 9/2/2015 7:08:51 AM EST
Saudi Arabia needs $100+ oil to not run a deficit. That tells me all I need to know about the eventual price. Short term price is anyone's guess.
Link Posted: 9/2/2015 1:34:18 PM EST
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