SUNDAY UPDATE: GLOOM & DOOM IN OIL

“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