Bulls/bear fighting hard here at the $40 level.

most likely bear win....my wild guess only.

Bears may jump in again in Asian market tomorrow to play with Oil but
we need to see how Wall street react again tomorrow night, hopefully push it back
above $40..and then $40.50 to $41 and so forth.

Personally, I need it to be in range play: 40-45 to make money.

This post has been edited by danmooncake: Aug 2 2016, 06:31 AM

crude is weak, very weak. no positive news at all.

if the past days/weeks are anything, asian/euro traders will push it up some time in the day, then start retreating by 6pm. by 9.30pm, they would have dumped all they want to.

looking at this morning so far, it's barely up.

high chance it will go lower by market opening tonight.

so far rebounding....we'll see tonight how.

that's the volatility to be expected.

april 17 had a long handle hammer candlestick... it rebounded fast and furious then.

now, maybe history will repeat!

still, need to wait till 9.30pm, see if european traders will dump it back to 40.20 or lower then.

the thing is... what is there to sustain this rebound?

rebounding....

It gaps up.. so let's play fill that gap.

cruel man...

40.0->40.9->40.1...

It works.. XLE also follows crude pattern now. Sold into the rally at open, and now, moved back down.
Let see if 65 can hold here. Got some options to sell.

pretty sharp fall...

It is volatile.. overnight, they spiked up the futures, now
traders are taking the profits. We're back to same price like yesterday closing.
As long as it stays around here at $40 for a few more days, this could be the bottoming process.

it's just the traders having fun knifing each other.

there is nothing to support it back to 41.

will take api/eia to report -3mil bbls later/tmrw.

Dow, SP500 and Nasdaq... pulling back -0.5% now.

Still mild here. Crude still holding that $40 line here.
Fight, fight, fight.

its 11.32pm local time. crude <40 !!!

latest....11,35pm. crude tanking !!!!

Oh no....

40 broken... very, very weak.

may be heading for 35 in the next few days.

Frackk... this is getting serious.

i got in dwti right but got out too early.

so early that i missed $10.