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Oil price up move just a blip? Big down turn soon?
#1
Is the upmove in oil prices over the past few days, which has received a lot of hype in the news, just a very temporary blip?

I think so, I think the main move is down.  I don't know how temporary this up blip is but it could just be days.  I think there might be a big move down in early October.

I don't know much about oil, this is just from looking at the chart and taking a guess and using my crystal ball.

I think the much publicised up move in oil in the past few days is temporary and will reverse in October.  I could easily be wrong. 
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#2
For what it's worth, I agree that it is probably just a temporary blip upward in the overall scheme of things.

A bear-market rally in a disinflationary/deflationary world.

Mostly based on production cut agreements.




[Image: 9a083670-6a03-4117-b727-3e9f594e01db.png]



But the price nevertheless spiked:



[Image: 6db15dab-c3fb-4242-93f0-a27d13989aa4.png]



But even the vampire squid Goldman Sachs predicted a global surplus of oil all the way through the end of next year:



[Image: 8df95fcf-4c38-4e44-a287-2d45d1b00f86.jpg]



Naturally, certain countries (oil exporters like Norway and Canada) and their currencies benefitted from this news.

The Mexican Peso is having a particularly good week:



[Image: be3eaa8c-1f70-4dd8-962d-d6f5393acd1a.png] 




These are markets for especially acute and nimble day-traders (which I definitely am not).

We've seen these upward blips before in the last couple of years, and I'm sure we'll see them again.

And lots of people will make lots of money from them.

But I won't be one of them.

Too bad for me.
"Sooner or later everyone sits down to a banquet of consequences."  -- RLStevenson
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#3
Until they bomb ISIS out of existence ...... they won't be able to sustain the higher prices


The ARABS and Russia should get busy and fix this ...



Stop waiting on the ISLAMIC prez to save them



( wonder if Hillary is an ISLAMIC sympathizer ?????)



TRUMP should pound on that Stank Face till someone notices this ....




DUHHHHHHHH
Rolleyes    JP MORGAN metals price suppression Team-LEADER / and bank run expert ... to Jamie Diamonds
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#4
(09-29-2016, 11:49 AM)silverfish Wrote: Is the upmove in oil prices over the past few days, which has received a lot of hype in the news, just a very temporary blip?

I think so, I think the main move is down.  I don't know how temporary this up blip is but it could just be days.  I think there might be a big move down in early October.

I don't know much about oil, this is just from looking at the chart and taking a guess and using my crystal ball.

I think the much publicised up move in oil in the past few days is temporary and will reverse in October.  I could easily be wrong. 



Something to consider as the price of oil continues to bounce meaninglessly up-and-down, up-and-down, and
traders try to scalp meager profits.

This seems to be the model most folks envision:


[Image: 9e3ded63-48d1-4b47-b640-10b2e55c84dd.jpg]

This is most likely going to continue for quite some time.

If you're considering getting into this cycle of long-short-long-short, or just on the short side, rather than
doing so directly with oil you might want to think about the companies in the Energy Sector,
which are quite grossly overvalued (still) when compared to the underlying commodity:



[Image: XLE.png]





Of course, shorting is a very rapid way to make a lot of money.

"Bull Markets ride an escalator;  Bear Markets take the elevator."

Or to very rapidly lose a lot of money.
"Sooner or later everyone sits down to a banquet of consequences."  -- RLStevenson
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