Nice preview to tomorrow.

here we go...


Saudi Arabian Energy Minister Khalid Al-Falih told Reuters late on Thursday that "we don't believe any significant intervention in the market is necessary other than to allow the forces of supply and demand to do the work for us," adding that the "market is moving in the right direction" already.



tonight, we have yellen speech and rig count.

wow....oil rally continues....

latest... yemeni missile fired at saudi.

looks like the missile can't much do.

fed's vice chair fisher speech more powerful, hawkish.

stocks and crude turn negative.

Quite an interesting day... Oil down but XLE up green!

market likely to trade rangebound his week until fri, jobs report.

that will almost seal the fate of whether fed will hike rate or not in sep.

i standby for fri!

Oil got good support at the 46.xx, already couple of times since last week, it refuses to test the lower support side at 45.xx.
I think it will test the high side again near 50.xx

chartists are calling crude rangebound, wait and see if it will break out on either side of 46.50 and 48.43.

never mind opec record output vs opec freeze talk, but the mood is... global equities are poised to go higher.

there are more and more reports now calling it "bull", like these:
http://www.bloomberg.com/news/articles/201...-abb-to-samsung
http://www.cnbc.com/2016/08/29/markets-acc...-rate-hike.html

suddenly all the doom and gloom gone?!

dow-s&p-nasdaq +10% in next 6-9 months?!

This post has been edited by AVFAN: Aug 30 2016, 05:09 PM

Yes, I think all the doom and gloom are quieter now unless there is another yet unknown events lurking somewhere that nobody knows about.
The Brexit that hits the market suddenly as if it has no effect whatsoever. The last economic report from UK wasn't bad after fall. Businesses goes on as usual.

We're suppose to get a major pullback in August but nothing happened so far. The market is quite resilient here.

As long as Fed delaying interest rate or no sudden announcement, the market will roar higher.
Crude will likely stay range bound until OPEC pushes yet another bullish news about potential cut.

45.xx to 50.xx is quite interesting range to play here.

This post has been edited by danmooncake: Aug 30 2016, 11:36 PM

As Dan just said, fed continue to avoid clear statement abt THE hike. If i were to ignore them, can bet uwti!!! Hope there is further gap down at open!!!

This post has been edited by mikehwy: Aug 31 2016, 08:16 PM

crude price... there is a new wild card... china.

Oil extends losses as US crude stocks rise by 2.3M barrels, more than expected



and so, it falls again...

What the heck.... oh come 'mon.

Hold that $45 line!!!!

This post has been edited by danmooncake: Sep 1 2016, 12:14 AM

Oil is still going down and the market is taking some direction from it.

45 seems hard to hold....

stocks build, good adp report, crude sinks 3.5%.

come fri, if jobs report sucks, it will rebound 5%?!

wti... 43.45, still no support.


wanna go back to 40 so quickly?

we all couldn't find any reason for oil rally, could we?

42-43 should see strong support....

This post has been edited by yok70: Sep 2 2016, 12:53 AM

With shale oil around, oil price is range bound in the medium term.