Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Not quite sure what grease has to do with Greece, but all instruments seem to be on edge today (and it’s Opex). May the good guys win.
Two very interesting zones have emerged as reference points on grease:
Don’t forget the Rig Count scam at 1300 ET.
Originally posted @TradeFlightPlan
www.tradeflight.com
A new scam emerges: A news scam emerges:
Bloomberg: The Hot New Statistic Oil Traders Are Watching Is 71 Years Old
Those trading light, sweet, and sometimes crude oil last Friday may recall this little order flow anomaly right at Noon Chicago time – a very nice little jagged ‘M’ formation:
I’m in total agreement that grease monkeys need not get excited unless they rip apart 5430s. However, this week marks the first in many weeks that WTI has rotated right back to where it all started – the Weekly Opening Range (WOR) that was set Sunday night:
Experts are saying oil will head to $200 or $20 – pick a side. Meanwhile, it’s been a nice bullish week and we’ll change our minds if they start breaking down weekly opening ranges again.
There’s no point in having a bias, only order flow 😉
One nice tidbit of evidence for the deflationary environment in which we live is the ETF devoted to agricultural commodities, shown below. I’m not buying it myself (actually, I’m not buying anything) but those inclined toward purchasing something near what looks like channel-based support could do worse than this one:
The following Weekly chart of Copper shows that price has broken below a major support level of 2.5517 (confluence of Fibonacci Retracement, Fibonacci Fanlines, and downtrending channel) and is hovering above price support level of 2.385.
Failure to reclaim and hold above what is now major resistance at 2.5517 and a drop and hold below 2.385 could see Copper plunging to 2008 lows of 1.255.
