Another Record ($147.27)

emailking · Intermediate Crude Joined: Mar 11, 2006 Posts: 747

I honestly don't think at this point there's always a clean explanation for a swing of a couple bucks. Maybe back at $20/barrel this would be the case. I know the media likes to do it but the explanations all seem so random. It seems like on any given day you could use a number of their favorite reasons to explain why it either should have gone up or gone down.

smallpoxgirl · Moderator Joined: Nov 08, 2004 Posts: 5210

With the price where it is, there's going to be a couple of dollars of push and shove in the market. I'm not sure that the stuff the news reporters give as explanations is necessarily wrong, but I'm also not sure it really matters. Maybe a butterfly flapping it's wings in Borneo really did cause prices to rise $0.50. Why should anyone really care?
_________________
"I was born in a deep forest
I wish I could live here all my life
I am made from stones and roots
My home, these woods and roads

All my life I loved this sound
Of the woods all around
Eagles fly where the winds blow free" -Korpiklaani

idiom · Posted: Fri Jul 04, 2008 2:43 am Post subject: Re: Another Record ($145.85)

Where did the $10 swings go? It is like the market is accepting Peak Oil and its just slowly working its way up with much smaller swings now.

ReducedToZero · Posted: Sat Jul 05, 2008 3:29 am Post subject: Re: Another Record ($145.85)

i think Mr Bill mentioned the Positive Feedbacks of oil...
Conflict Feedback
Speculative Feedback (possibly)
Production Feedback (think EROEI)
we might begin to see smaller swings...

Duende · Posted: Sun Jul 06, 2008 5:40 pm Post subject: Re: Another Record ($145.85)

lowem · Posted: Mon Jul 07, 2008 2:57 am Post subject: Re: Another Record ($145.85)

Kind of quiet in the oil markets today, drifting around the $143 level.

The proverbial calm before the storm?
_________________
Live quotes - crude oil, gold and currencies
http://www.post1.net/lowem/page/livequotes

simontay78 · Heavy Crude Joined: May 01, 2006 Posts: 183 Location: SG

We just entered the eye of the storm...very eerily quite.
_________________
Simon Tay
http://sgenergycrisis.blogspot.com
http://sgcomplain.blogspot.com
http://simontay.blogspot.com

http://sgenergycrisis.blogspot.com/2008/06/free-live-crude-oil-prices-nymex.html

LGW · Tar Sands Joined: Aug 31, 2005 Posts: 23 Location: Sweden

Down at $143. What a bargain. Praise the Lord, our Salvation has come!

lowem · Posted: Mon Jul 07, 2008 9:24 am Post subject: Re: Another Record ($145.85)

Back to $140 support.

Crude oil tumbles. Peak Oil is cancelled. Laughing

_________________
Live quotes - crude oil, gold and currencies
http://www.post1.net/lowem/page/livequotes

Sketh · Tar Sands Joined: Jul 02, 2005 Posts: 60

lowem · Posted: Mon Jul 07, 2008 10:14 am Post subject: Re: Another Record ($145.85)

Sketh · Tar Sands Joined: Jul 02, 2005 Posts: 60

Sys1 · Intermediate Crude Joined: Feb 25, 2005 Posts: 606

I would like to see oil getting down to 90 something $ a barrel. A this time, I would put at least 60% of my bank account on oil for the next rally to 200.

Dan1195 · Heavy Crude Joined: Mar 19, 2005 Posts: 245

Probably a pullback to 40 dma. Not sure where that is at the moment, I am guessing 130-135.

chuck6877 · Intermediate Crude Joined: May 16, 2005 Posts: 510

I was thinking the same thing about it going to the 40 day moving average which the oil price has been above since early February. It's currently at $132.64 as shown by the blue line below.

If we go below the blue 40dma we could witness the major correction a lot of us have been expecting back to the red 200 day moving average. I don't see it correcting there until after the summer though and only very, very briefly........

I just edited this to add the 20 day moving average as seen in green. Smallpoxgirl you always mention this average and it was support throughout that last consolidation and may be support now before we run up to $150....

Chuck