17 March 2011

Brent : Fresh Long Jul11 @ 111.13

  • Cannot understand why crude is not much higher given fears of safety of nuclear energy + Bahrain events. Guess is because of deflationary fears associated with Japan disaster.
  • No matter. Logic is irrelevant. The charts tell the underlying story. It is not important to understand the underlying fundamentals.
  • Monthly : Uptrend.
  • Weekly : Currentt pull-back good for the long term health of the uptrend. 107.35 looks to be a good spike tail (ie rejected by market as being too cheap).
  • Daily : Interpret as base building around 108. Buy dips.
  • Trade : Gone tiny long Jul11 Brent at 111.13. Paying at a few levels down to 108.


Taichiseal said...

Took profit LCON1 @ 113.13. Will look to re-enter long.

Taichiseal said...


Taichiseal said...


Like the long trade but hedges put on today has brought margin utilization to uncomfortable levels.