“Want to know why crude oil has a hard time rallying? … here ya go!”
Who the hell needs OPEC? … the U.S. is a “net exporter” of energy now, unlike
the days of Jimmy Carter when we were at the mercy of others … it’s very hard to
gauge the “war premium” that is built into oil right now, especially after the
clusterfark with Iran a few weeks ago, but it’s clear any decent rally gets sold
pretty hard & fast if given the chance … given the relative high cost to trade
crude from a CFD perspective, if the market is in “limbo”, why attempt to trade
it?
Directly below, this week’s 20 Day Range MA for WTI Crude Oil.
click on ANY chart to enlarge
Directly below, the 20 day Range MA’s for USD crypto pairs.
At a minimum some stabilization of range’s … BTC especially needs a higher
value over $400 before I’ll look at it again.
Directly below, the 20 day Range MA’s for BTC CROSSES.
If you haven’t been over to traderzoogold to check out the “VIX MATRIX TABLE”,
go over and take a look, cuz I’ve put a new column that shows the total cost to
trade pairs relative to their average ranges … and it’s not good for crypto at
present, as costs are really high … at some point somebody does come along
and lower costs, and then the entire industry adapts overnight and costs suddenly
go down … over the last 20 years, we’ve seen this in FX and in CFD’s, in spurts
and dashes, and it will eventually happen in crypto … for now, though, the
industry seems content to keep high trading costs as a staple, with most crypto
exchanges keeping their -0.025% “maker” fee and their +0.075 “taker” fee on
crypto transactions … PRIMEXBT simply levels the field for traders with 0.05%
fee on every trade no matter whether you’re entering market orders or limit
orders. Like I said, someday somebody with big bucks changes the game and
moves the paradigm, but it doesn’t appear imminent … until tomorrow mi
amigos … Onward & Upward!!
Have a great rest of your weekend everybody!
-vegas