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Ef5 Oct 21, 2019 12:16am | Post# 381

{quote} Wti gives some conflicting values from both a technical and fundamental point if view.
I'm having a difficult time thinking of a bullish fundamental case for WTI. Geopolitical strife couldn't keep WTI up and longer-term between shale and lower global growth it seems pretty bearish. The only bullish factor I can think of is Baker Hughes rig count keeps trending lower so I suppose US production is slowing some at least.

I've said this before, but I think traders underappreciate the havoc a recession would cause to oil companies. $25 WTI is a realistic possibility and then just watch what that does to the energy industry. If you believe a recession is coming then shorting oil companies might be the best bet out there.

Ll1979 Oct 21, 2019 12:43am | Post# 382

{quote} I'm having a difficult time thinking of a bullish fundamental case for WTI. Geopolitical strife couldn't keep WTI up and longer-term between shale and lower global growth it seems pretty bearish. The only bullish factor I can think of is Baker Hughes rig count keeps trending lower so I suppose US production is slowing some at least. I've said this before, but I think traders underappreciate the havoc a recession would cause to oil companies. $25 WTI is a realistic possibility and then just watch what that does to the energy industry. If...
I join your vision (WTI is bearish) but learned the hard way the market is always right

Some bullish fundamentals which might have lead to higher prices.

  1. Weaker US Dollar
  2. Refinery usage China indicates more demand


Ef5 Oct 21, 2019 12:47am | Post# 383

Refinery usage China indicates more demand
Chinese refinery usage sounds like a very useful indicator. Do you know if the data for that is publically available anywhere?

detector Oct 21, 2019 1:48am | Post# 384

No trading today, looking at the Dow, is the price heading towards 26200, unless good news, think this is the next stop according to the chart, good trading all, D

Ll1979 Oct 21, 2019 1:59am | Post# 385

{quote} Chinese refinery usage sounds like a very useful indicator. Do you know if the data for that is publically available anywhere?
I got the info from a CME video. Other news sources didn't gave the info.

detector Oct 21, 2019 12:55pm | Post# 386

Hello all, was going to keep out the markets for the time but seen an opportunity in EUR/USD to short (speculative) 1.11510, any thoughts, D

Ll1979 Oct 21, 2019 1:11pm | Post# 387

1 Attachment(s)
Hello all, was going to keep out the markets for the time but seen an opportunity in EUR/USD to short (speculative) 1.11510, any thoughts, D
Hi D,

Hope your EU works out. Hope you'll get a retest on H1
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detector Oct 21, 2019 1:16pm | Post# 388

{quote} Hi D, Hope your EU works out. Hope you'll get a retest on H1 {image}
Thanks Li, the 4hr out of the park and looks to be coming back in, the 1hr showing the way, may see a pull up from here but chart says down or pullback,
like the chart Li, D

detector Oct 21, 2019 2:56pm | Post# 389

Hello all, was going to keep out the markets for the time but seen an opportunity in EUR/USD to short (speculative) 1.11510, any thoughts, D
EU moving a little in the right direction, feel the rise could warrant the retrace, tarket a mental one for now if it goes, D

detector Oct 21, 2019 3:59pm | Post# 390

Is EU going back to 1.10600, the daily has shown a similar pattern of reversing from the 200ma, any thoughts of this happening again from this point, would love to hear, D

detector Oct 21, 2019 4:35pm | Post# 391

Opened speculative sell GBP/USD 1.29575, D

RobyTurboSS Oct 21, 2019 4:47pm | Post# 392

Opened speculative sell GBP/USD 1.29575, D
Is not speculative, is the only way ...to 1.20

detector Oct 21, 2019 4:52pm | Post# 393

{quote} Is not speculative, is the only way ...to 1.20
It's the brexit thing RT its turning organic to wild at the mo, I'm not averaging out, trying to catch the cliff edge, sometime it works, sometimes a little DD, timing is not quite there yet, D

RobyTurboSS Oct 21, 2019 4:54pm | Post# 394

your timing is good ...31 oct will have GBP ready to be bought below 1.20...

detector Oct 21, 2019 5:00pm | Post# 395

your timing is good ...31 oct will have GBP ready to be bought below 1.20...
I'll be waiting for that opportunity RT, D

detector Oct 21, 2019 5:37pm | Post# 396

Closed both positions out, EU gapped down, GU in slight loss, combined small profit so closed due to uncertainty, as I explained in a previous post, I'm not averaging out so expect some kind of move, with little expectation, I'm out, D

detector Oct 21, 2019 6:02pm | Post# 397

Good night all, speak tomorrow, keeping things low key on the brexit runup, good chess all,keep them moves tight,D

detector Oct 21, 2019 6:11pm | Post# 398

1 Attachment(s)
Closed both positions out, EU gapped down, GU in slight loss, combined small profit so closed due to uncertainty, as I explained in a previous post, I'm not averaging out so expect some kind of move, with little expectation, I'm out, D
Probably prove me wrong and fall, notice the second bar in, gapped down,D
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detector Oct 22, 2019 7:27am | Post# 399

{quote} Probably prove me wrong and fall, notice the second bar in, gapped down,D {image}
timing was a little early but good to know it went in my projected direction,D

Ll1979 Oct 22, 2019 7:35am | Post# 400

1 Attachment(s)
Long USDCAD @ 1.3085
cluster area of support + fib & camarilla pivot support
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