Crude Oil

Oil prices might see a price equal to $40 per barrel shortly and The meeting to be held b/w OPEC+ countries is also expected to push prices upwardly.
There would be strike off amond demand and supply in the coming quarter.

https://markets.businessinsider.com/...?type=wti&op=1

I found this interesting, if you want to give it a look.

I checked the common wisdom that CAD follows the oil price. That seems to be true often (and then
with near 100% correlation), but from half 2016 to early 2020 that wasn't the case.
I don't follow oil that long yet. Is there any oil-side explanation for that?

(orange line is WTI 1M futures price)

Could be demand? Corrections are at some intervals loose.

$72 next week. A combination of China reserves talk of opening the spigot and Biden opening the SPR. Talk of DOUBLING the taper on bond purchases in January and a national lockdown in Australia. This equities market is starting to unwind and oil is the front runner warning to it.

Approaching resistance

Currently long WTI @85.00 with TP @87.20 and SL @84.30

Still like the long side. Buying the dip

Picture reversed after London fix, hence no long entry point. Will check how it goes NY and TK sesh

Shorting from 30 spot

Edit: SL clos>7.66, aim 6.25

Update: added @50, SL >75

Update2: unloaded 1 short, BE

Update3: closed at BE

Re short 44

Update: same SL, TP; Troll zone 28-52; Feb seasonals bullish, so focused but cautious...

Out of the dungeon, for now. But where's the level boss at?

Update: at BE

Out of short, +100

My trading finger ready for a drop

WTI , short @91

Needs 2 break & close < 45 to validate

No takers, waiting for fix

closed long*, BE

*Edit: closed short

Short 66, 1/3 size

short 42, 1/3