This thing is going to $60 very quick with that kind of drop. We've seen 18k, 23k, 27k at best the past few weeks. This is a significant drop and if we get this kind of drop every week we are going to be back in balance by early 3Q. Oil will run today. Let the market makers play this out on the retail folks
Figure it out.
Wednesday drops from 2% up to 3.5% down mid day.
Thursday drops from 1.4% up to 0.3% down
Friday starts out down 1%.....will it drop again mid day? Probably
For those of you who just bought at that low, its obvious that this stock is not going to be up 2%, then down 2% and then up again. You might as well sell now
You can read the PDF on the EIA website. It was a 10.4m build for Crude, 2.9m build for distillates and -1.5m draw for gasoline. This is a 11.8m build across the 3. This compares to a 0.3m net draw last week across the 3 of these . Look out today
At the moment yes it seems so but well see over the next 2 sessions. If we break over 1873 then it wasn't a fakeout. If the market turns before 1873, then it's likely a very quick fall back to 1812. Trade safe
Right on the cusp of the top of the way down here guys. Anyone who bought above 186.40 will be seen as having bought beyond what the technicals tell us. 3 day rally is over according to the charts
The 50 day hasn't been broken in quite some time. This is heavy volume. Hard to see it not breaking. Get long volatility or short a momentum name if you want to protect
60.72 represents down 2.7% and extremely oversold on the intraday markers. Given that yesterday's rise was on heavy volume, it's unlikely this is headed in a straight line back down. The straight line down since the open will likely reverse intraday in fairly whipsaw fashion. Although end of day is anyone's guess. I can only suggest a short term whip back, possibly to break even or just short of it