WTI Crude Oil Trading

I am long wti cfd @61.18, [email protected], [email protected] will evaluate

[email protected]

you should have waited, its a choppy market, andkeep an eye for a big coming candle..

maybe something like this or up from here to $78 need to look at the days structure

Looks like you closed long at HoD! Excellent!

Inventories day! Very hit and miss, can either be great or very lacklustre!
Over time my stats tell me I underperform on this day until an hour after the number is out. Therefore these days I start the day late, circa 11:30 EST, an hour after the number. Let the games finish. Ergo, will be back later with hypos for the shorter day!
Good luck all those that play the inventories rollercoaster - I am too old for it now.

its time to go bullish, tp:61.50 sl 60.87, even i m confused..what do you think of now?

Equity futures are weak at the moment. Influence on WTI???

I'm short S&P at 2832, sl 2833.

Closed for 4.75 points. Looks like down move is continuing.

I have no set up at the moment
I would say long is better than short but for now I wait
Do you have any open position on oil?

[quote=valter;12273693]{quote} I have no set up at the moment I would say long is better than short but for now I wait Do you have any open position on oil?[/qu
i have checked on every indicator, every trend lines, but no clue, i believe there is going to be long bullish candle, because my trend lines show me a triangle..i hesitate in saying, we are very close to that one bullish candle..
WE ARE SOMEWHERE AROUND THERE.. keep me updated buddy..

Dow looks weak, looking for support 25377 but I think the bear would continue below this level

I have a small long wti cfd @61.51, [email protected], [email protected] I will evaluate

EIA: Commercial crude oil inventories increased by 5.4 million barrels from previous week
15 May 2019, 17:38

In its weekly petroleum report for the week ending May 10, the Energy Information Administration announced that the commercial crude oil inventories in the U.S. increased by 5.4 million barrels.
Key takeaways from the press release

1. Gasoline production decreased last week, averaging 9.9 million barrels per day.
2. Distillate fuel production increased last week, averaging 5.3 million barrels per day.
3. U.S. crude oil refinery inputs averaged 16.7 million barrels per day during the week ending May 10, 2019.
4. Total products supplied over the last four-week period averaged 20.1 million barrels per day, up by 0.3% from the same period last year.

Nice

Hi all some great posts of late, I've taken a speculative short 6177, it may well want to hit 62 but here for now, will monitor with haste!!!, D

with a little bit of luck this baby might run towards 62.5 (H4 resistance + camarilla H3.

out 1/[email protected] cfd

It looks like it's going that way Li, but it's reversed on a falling res slope (just broke through) so hoping history will repeat, it's hard as we have conflicting views but wish you the best,D
EDIT
Target <60

As mentioned earlier I usually wait for the first hour after inventories to play out as it can tend to be very choppy until direction is settled upon. And there are always retraces to get in on the action. Today it looks like it just went up without a break (happens) so may not give another chance to get in long.

Really fancied the overnight highs to be taken out but that's already happened (@90) but following the huge downside rejection of multiple value area lows overnight, I have a strong thesis that we will easily take out yesterday's highs @ 62.11 at some stage.

So my main hypo (late start) is for a big retrace over the next hour or so back to overnight VAH marked, taking out a lot of the long positions built since inventories, then another strong rally attempt to take out yest highs.

If it just goes without me (looking likely as I type), will see if we can build above yest highs (hypo 2) and target much higher.

I don't really have any appetite to fade short in this type of market - too risky in my opinion when inventory on the tape is just one way.

Attached market profile which I use to build hypos!

Well done if you traded the crude today and banked!

I have no position but i am also bearish (mostly due to inventory numbers) but i think the institutions are playing a game. Around 62,5 i am looking for a short.