“No real surprises anywhere as we start the week!”
It’s been about a year since WTI crude oil has seen its 20 Day Range MA go
this low … a few times in 2018 it held in the mid to upper 130’s before going
higher, and it sits today at 131 cents … from last week it dropped about 14
cents. And while Saudi Arabia has cut production, along with oil coming off
the market from Venezuela & Iran, lower supply is being met with lower
global demand, especially in China … and as we see the manipulation to get
oil higher, it sure isn’t showing the “zip” we should be seeing to compensate
for the risk in trading it. In other words, ranges really suck, and before I go
wading back into oil, it’s gonna have to show me ranges are expanding
… until then, adios.
All things Cable in the FX arena are picking up … I guess the British
government is hellbent on dragging the “Brexit” drama Queen forward by
months, as they can’t seem to get anything done, no matter the deadline, no
matter the perceived consequences … bottom line? … if we can get near our
threshold trade levels, either in GBPUSD OR GBPJPY, they should be
profitable trades on a reward / risk basis. Of course, we’ll see how that turns
out, as NADEX is shit for dropping call spread premiums when volatility
goes south.
click on any chart to enlarge
Onto the new week, let’s see what it brings.
Have a great rest of your weekend everybody!
OUR NADEX SIGNALS SERVICE IS UP & RUNNING … DAILY
WTI CRUDE OIL SIGNALS & “VOLATILITY” STRATEGIES
IN 20 OTHER MARKETS, INCLUDING COMMODITIES, FX,
& STOCK INDICES! … “what on earth are you waiting for”?
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