OIL

[wayneL]

For those of you who have investments in the energy sector, I thought I would start a thread on Crude Oil and other Energy Commodities (natural gas, heating oil and gasoline) for discussion.

Just to kick it off: August Crude has generated a sell signal (short term swing) If this proves to be a swing high then it will be a lower high.

Could be a bearish or sideways setup for ther next several weeks(Just my opinion folks)

Cheers

[wayneL]

August Natural Gas already making a series of lower highs and lower lows and sold off savagely today...

Hmmmm

[wayneL]

Nobody interested in oil?

Short signal fizzled and it put in a big upside bar overnight. My sideways/down theory in tatters! ::)

[Jett_Star]

Interesting...

[wayneL]

Crude hitting historic highs folks! Fill up yer jerry cans! :o

http://cbs.marketwatch.com/news/story.asp?guid=%7B5825C39B%2D1CA2%2D4684%2DA2C1%2D CA253B0C50CA%7D&siteid=mktw

[Aceyducey]

Hot Tip: Research Stuart Petroleum (STU).

Though most Australian producers will get a boost when analysts reassess the (now) low NPV put on oil across most of the country :)

Cheers,

Aceyducey

[jkool]

And what about WPL? Anybody?

I have been watchin it for about 2 mths and healthy ca 10% could have been made on them so far.

[stefan]

Wayne,

Considering the crucial factor oil is playing in our daily life, I'm not surprised that it's finally getting more expensive. I do however think that oil is heavily manipulated and therefore I don't like it as an investment. It is vulnerable to many other things and that makes it to unpredictable for me.

Energy as such is of great interest to me but I think it is now time to look at sustainable technologies like solar and wind. Especially solar has come a very long way and IMHO has reached a state where it is competitive with oil. Lots of interesting companies out there in this sector and I'll keep a close eye on a few.

Happy trading

Stefan

[acouch]

a series of oil charts so far for this evening, might
be of interest to some
ac;)

[acouch]

next two..didnt know how many it could takac;)

[acouch]

update qm chart
ac;)

[acouch]

last chart for this evening
but you can see how price is effected by a coil
have a great evening
ac;)

[acouch]

oil chart to keep an
eye on..for those trading
ac

[acouch]

chart if some upside for oil
ac ;)

[acouch]

updated chart
ac

[acouch]

updated chart
ac

[acouch]

oil chart to have a look at
ac

[acouch]

a bit of interest to some..upside/downside set up.
ac

[acouch]

ML's working to perfection
ac;)

[acouch]

still had some more in it
ac ;)

[acouch]

last chart
have a good evening
ac;)

[acouch]

daily lt.crude chart for those interested.
have a great day
ac;)

[professor_frink]

I moved your other oil charts over to this thread ac so you can find them a little easier in the future:)

Would be great to see the chart from the 16th updated so we can see how the price interacted with the ML's over the course of the session if you have it:)

[acouch]

to far back now prof.fink i am afraid, as it was the june contract,
and now we have moved into july contract,
and i usually delete all ML's next day..ready to start with a new
canvas :-)
oil has hit 130.50 tonight
enjoy your evening
ac;)

[Tysonboss1]

Crude hitting historic highs folks! Fill up yer jerry cans! :o

http://cbs.marketwatch.com/news/story.asp?guid=%7B5825C39B%2D1CA2%2D4684%2DA2C1%2D CA253B0C50CA%7D&siteid=mktw

That article is a great flash back,....

whoever thought back in 2004 oil would be trading at $130 within a short few years,..

I remember reading an article in 2003 in BRW mag saying that within months of the invasion of iraq the world would be awash with cheap oil again and oil would rest at a long term price of $35,.... I wonder what the author of theat article is thinking now,...

[acouch]

chart might be of interest to some
ac;)

[acouch]

a few nos for interest..
ac;)

[Whiskers]

a few nos for interest..
ac;)

Hi acouch

From a FA perspective I thinking oil is over-cooked at the moment.

I'm not sure how to use those pitch fork things. How do you see it going?

[acouch]

Evening whiskers,

this is eod chart..to me it looks to be going to test higher..
if you look at price it has been supported by its 34 ema..(yellow)
the 34ema atm is sitting at 122.40 ..so price needs to break through that for lower..
my thoughts..
ac;)

[Whiskers]

Evening whiskers,

this is eod chart..to me it looks to be going to test higher..
if you look at price it has been supported by its 34 ema..(yellow)
the 34ema atm is sitting at 122.40 ..so price needs to break through that for lower..
my thoughts..
ac;)

Acouch, what about those blue lines... are they the pitch fork and do you interpret them as range or trend lines, in which case it's getting a bit toppy?

It just seems to me you use the pitch fork, but I have no real idea how to interpret it. Actually, I've rarely seen it used.

[acouch]

morning whiskers,
yes the blue lines are Andrews Medianline (pitchfork)
they have been on the chart since Dec 07, and you can see how
price has follwed it.
for you to learn more on pitchforks go here..

http://www.medianline.com/

ps..they have a 80% chance of being hit

have a great day
ac;)

[Whiskers]

morning whiskers,
yes the blue lines are Andrews Medianline (pitchfork)
they have been on the chart since Dec 07, and you can see how
price has follwed it.
for you to learn more on pitchforks go here..

http://www.medianline.com/

ps..they have a 80% chance of being hit

have a great day
ac;)

Thanks for that mate. :)

I had a bit of fun swinging them all over a chart the other day. Looked good, but I had no idea what to do with them. 80% sounds like pretty good odds. ;)

[acouch]

good morning,
just thought i would update, eod oil chart
for those interested..
note how the 34ema has supported price once again.
i have also added another Medianline , and as you can see where marked, we
have confluence at 139.63 , once over that then it looks like it
will be after 152.62
have a great day
ac;)