• 5 minutes Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 10 minutes Iranian Sanctions - What Are The Facts?
  • 15 minutes U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 4 hours WTI @ $75.75, headed for $64 - 67
  • 34 mins Censorship has a price: Google’s CEO Defends Potential Return to China
  • 2 hours Gold price on a rise...
  • 3 hours Saudis Threaten Retaliation If Sanctions are Imposed
  • 9 hours Porsche Says That it ‘Enters the Electric Era With The New Taycan’
  • 2 hours Two Koreas: U.N. Command Wrap Up First Talks On Disarming Border
  • 9 hours Can the World Survive without Saudi Oil?
  • 25 mins $70 More Likely Than $100 - YeeeeeeHaaaaa
  • 22 hours Sears files Chapter 11
  • 23 hours Natural disasters and US deficit
  • 19 hours U.S. - Saudi Arabia: President Trump Says Saudi Arabia's King Wouldn't Survive "Two Weeks" Without U.S. Backing
  • 10 hours How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 3 hours Who's Ready For The Next Contest?

Breaking News:

200 Dead In Nigeria Oil Pipeline Blast

Alt Text

The Oil Markets Are At A Confusing Crossroads

The latest IEA report suggests…

Alt Text

OPEC Accused Of Hiding Spare Capacity

The U.S. State Department has…

Martin Tillier

Martin Tillier

More Info

Trending Discussions

Get Ready For Energy’s Own “Black Friday”

Over the next couple of weeks, those of us who reside in the U.S.A. will be readying ourselves for the Thanksgiving holiday and the display of naked greed and mob mentality that immediately follows it; Black Friday. For those of you unfamiliar with the concept, Black Friday is the day following the holiday when, traditionally, retailers offer their best bargains to kick off the holiday shopping season. The energy markets may not have the same tradition, but this may be a good time to make a shopping list for an equivalent event.

I have suspected for some time that, at some point, oil traders would be unable to resist the temptation to see how things look when WTI once more has a 3 handle. After a dramatic fall this week that looks to be imminent. Given the power of momentum we could even trade at or below the $38ish lows reached a couple of months ago. That will have many energy investors wringing their hands, but those with a trader’s mindset will be putting together a shopping list to take advantage of the market’s own Black Friday, or whatever day of the week those levels are reached.

Let’s be clear, it is not that oil, and therefore many related stocks could not go below those levels; it is just that there is a good chance that momentum will slow and then turn somewhere around the previous lows. Proximity to those levels allows for stop losses to be set below what can reasonably be expected to be a strong support level, limiting the downside…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News