GBP

looks as if we are going to 156

gbp going?

qiman, at the risk of flaming... i always thought that as a technical analyst EVERYTHING is in the price action.

Yes, the various aforementioned factors are indeed influencing the price of oil--somewhat. I study these factors based on my academic training. But quite often I read articles which purport to expalin why something went up, while I had been watching the charts, and most important was that at one critical point the resistance was broken just enough, and then longs piled on while shorts were forced to quickly cover their positions. Technical factors alone can account for quite a bit of price movement, traders' anxieties in the face of rising prices and simple momentum take over for days or even weeks sometimes, regardless of fundamentals or logical reasons or explanations. There are many complex situations where the whys will never really be understood, humans are sometimes very illogical in their behavior, but astute traders will simply take advantage of the movement.

@lifalyon I agree no country would ever reveal their plans to attack someone and then go ahead with it. Oil is affected by so many factors geo-political, earnings driven markets and USD...can't just say the dollar is the only reason...I have got a 75 put in place, if it expires worthless so be it, but if crude falls...kerching!!!!!