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  1. uls's Avatar
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    May 3rd, 2017 11:32 AM #4121
    don't worry

    this week siguro mag break 50 na
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    uls
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    May 3rd, 2017 12:05 PM #4122
    latest commitment of traders (COT) report shows large reduction in long positions (combined NYMEX WTI, ICE Brent, ICE WTI)

    so this decline in oil prices is the result hedge funds' long liquidation rather than new selling

    those long positions were built up weeks ago

    the liquidation is a sign hedge funds are losing faith in OPEC's production cuts

    they're exiting their bets that oil prices are going higher

    BUT

    the COT report shows longs still outnumber shorts
    Last edited by uls; May 3rd, 2017 at 12:12 PM.
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    May 3rd, 2017 01:27 PM #4123
    From page 408

    posted April 21, 2017

    i think this is my most hated post hahaha

    Quote Originally Posted by uls View Post
    if Brent doesnt fall below the psychologically important 50, it's bullish still
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  4. zoomzoom
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    May 3rd, 2017 01:36 PM #4124
    Quote Originally Posted by uls View Post
    don't worry

    this week siguro mag break 50 na
    Rollback ba next week?
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    May 3rd, 2017 02:29 PM #4125
    Quote Originally Posted by zoomzoom View Post
    Rollback ba next week?
    if it falls below 50 and stays under 50 the rest of the week
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    May 3rd, 2017 02:32 PM #4126
    but it's already wednesday pala

    it feels like tuesday
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    May 3rd, 2017 05:38 PM #4127
    Hitler finds out oil prices are dropping... - YouTube

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    May 3rd, 2017 11:42 PM #4128


    Drawdown on crude stock

    But buildup in gasoline stock
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    May 3rd, 2017 11:56 PM #4129
    Inventory report is neutral for oil prices

    Not negative

    Strong demand for crude from refineries

    Resulting is drawdown in crude stock

    Resulting in buildup in gasoline stock

    Need US summer driving season to kick in

    To reduce gasoline stock
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    May 4th, 2017 11:22 AM #4130
    oh hi there

    it's thursday and brent is still above $50

    haha

    maybe it will break 50 today
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    May 4th, 2017 11:33 AM #4131
    or not

    or tomorrow

    or not

    or next week
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    May 4th, 2017 04:38 PM #4132
    this is happening now

    another attempt at $50

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    May 4th, 2017 05:54 PM #4133
    update
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    May 4th, 2017 06:09 PM #4134
    April 21st, 2017, 09:36 AM #4071

    if Brent doesnt fall below the psychologically important 50, it's bullish still



    so it's like camp big falcon with its barrier up and the enemy keeps firing and on the barrier

    eventually the barrier will break but so far it's holding

    that's brent's $50 level

    it's not called psychological barrier for nothing
    Last edited by uls; May 4th, 2017 at 06:22 PM.
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    May 4th, 2017 09:39 PM #4135
    a party before... may23



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    May 4th, 2017 09:40 PM #4136
    50 broken

    50 broken
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    May 5th, 2017 02:29 AM #4137
    glut is real... how much further will the price drop...



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    May 5th, 2017 10:45 AM #4138
    look how important that psychological $50 level was

    it took several attempts and several days to break 50 coz there were defenders at that level

    when the defenders got overwhelmed they just let it go

    after breaking 50, it only took a couple of hours to break below 49




    the rally towards $60 we saw earlier this year was due to hedge funds accumulating long positions when OPEC promised them they'll defend oil prices with production cuts

    the optimism lasted about 3 months

    as oil prices rose US shale came back with a vengeance

    the selloff we're seeing now is due to hedge funds exiting their long positions

    they're losing faith in OPEC

    it will take a lot more convincing this time for hedge funds to go long crude oil again
    Last edited by uls; May 5th, 2017 at 10:55 AM.
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  19. zoomzoom
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    May 5th, 2017 10:58 AM #4139
    Rollback na ulit.
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    May 5th, 2017 01:42 PM #4140
    46.xxx

    glut is real



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