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Re: Trades - Crude/Silverbear *PIC*
In Response To: Trades - Crude ()

Yes the two month channel of April Crude is between 94 and 88 which gives a $6 channel. A break below 88 would project a low around 82 which is exactly where price support is waiting for it. I am surprised how well the Oil stocks are doing. They seem to think Oil is going up the way they are acting. The oddball disparity between Nymex Crude and Brent is extreme and rare and I don't' know exactly what that's all about for sure. 'They' claim Nymex Crude is artificially priced due to all that Canadian Oil being pumped into Oklahoma and creating an oversupply. Always a story to be told it seems but the two prices are right out of whack. Wonder what the real price really is or will be perhaps. Late Feb tends to be a seasonal low in Crude so we'll see. Meanwhile as long as April Crude stays under 88 it's in trouble and likely to fall to 82.

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Re: Trades - Crude/Silverbear *PIC*