Post by
HighOctane89 on Jan 04, 2023 6:18pm
API report
Yeah , pretty hard to get excited about much in this environment , good news is bad and bad news is even worse . Nobody cares that the SPR released another 2.7M barrels last week bringing the reserve down to 372M left in the SPR . Without that release the build would have been 500K , not the 2.7M . It seems 2023 is just Q4 2022 revisited , I am interested in what the EIA report says but as it stands , crude has no friends even with it being so over sold . Like the song says , time is on my side .
Comment by
Cobalt on Jan 04, 2023 7:57pm
How do you figure it is "so oversold" ? RSI of 39 with a MACD just about to call a new sell, far from oversold, oversold will give us new lows, sorry, but i got caught in a few names too CVE MEG CNQ best of the best i can ride out 2-3 years, HED 2x bear to hedge them cheers
Comment by
Cobalt on Jan 04, 2023 8:10pm
Where would overslod take us? well if $70 support does not hold $62 crude is next major support acck after $63 come $43 how bad do things need to get for $43 Oil?
Comment by
2021Gamble on Jan 04, 2023 8:18pm
Appreciate the additional info @cobalt, along with specific numbers As for breaking support of $70 I personally don't see it happening.
Comment by
Cobalt on Jan 04, 2023 8:28pm
I dont either and would be buying more oil sands for long term but ya just long term money in oil now short term gold could turn into something, gold has been dead for way too many years played it from $375 to $1900 dead for a decade hmmmmm
Comment by
Cobalt on Jan 04, 2023 8:43pm
So many good gold forums blow up after 2011 GoldEagle lol so nope just started legging back in this Fall ya dont get caught up in the 5k gold calls they just selling their book, 2011 $500 silver calls were the rage LOL good times :)
Comment by
Cobalt on Jan 04, 2023 8:58pm
Sent you a dm, sliding right in there ;)