WTI Crude Oil Trading

Shorted SPX on H4 (break trendline + 3 bar play)

interesting confluence point (support on Daily + H4 + fib 78.6 + support RSI)
Keeping my eye on the ball for a possible buy.

#WTI / Weekly & H4 / Bearish Idea

long @ 60.984

banked near camarilla H3

Dow may go long over this level again...that's my thinking at the moment

stopped out

Whoa , $59.90 /BBL very possible today. YIKES !!
Hmmm....

Regards , GE

Two down one to go.

Supporting at 59.56 but I still see it bearish for now, can we hit 57 ?

I think support is at 59.25 but for how long

WTI TUMBLES TO FRESH LOWS IN SUB-$60.00 LEVELS
23 May 2019, 16:29

1. Prices of WTI break below the $60.00 mark.
2. EIA reported a nearly 4.5M barrel build on Wednesday.
3. Broad-based risk aversion weighs on crude prices.

Prices of the barrel of the American reference for the sweet light crude oil are sharply lower on Thursday, breaking below the psychological $60.00 mark, or new2-month lows.

WTI breaches the 200-day SMA
Crude oil has accelerated the downside after breaking below the key support at the 200-day SMA in the $60.20 region, always tracking US-China trade concerns and a moderate pick up in the risk aversion.

Prices of the West Texas Intermediate came under strong and renewed selling pressure today after failing to extend the weekly up move beyond the $63.70/80 band earlier in the week, where emerges a Fibo retracement of the October-December decline.

In the meantime, unabated jitters on the US-China trade war and escalating tensions around Huawei (in the US) and Apple (in China) have coupled with the uptrend in US crude oil supplies, particularly after the API and the EIA reported unexpected builds during last week.

What to look for around WTI
Prices of the WTI appear to have met moderate resistance in the $63.70 region, or multi-day peaks, sparking a sharp correction lower. In the broader picture, and supporting prices, appear rising US-Iran tensions, turmoil in Libya, the so-called ‘Saudi put’ and the ongoing OPEC+ deal to cut oil output. However, US-China trade concerns remain far from abated despite the lack of fresh headlines as of late and emerge as the main hurdle for a more serious advance in crude oil.

WTI significant levels
At the moment the barrel of WTI is losing 2.89% at $59.40 and faces the next support at $57.95 (100-day SMA) followed by $55.51 (38.2% Fibo of the October-December drop) and then $54.37 (low Mar.8). On the flip side, a break above $63.74 (61.8% Fibo of the October-December drop) would aim for $64.66 (high Apr.30) and then $66.46 (2019 high Apr.23).

WOW !! Thomas the tank on both Oil/Dow

I am looking for 58.7 @ daily for priceaction.
58.6 for weekly

Something is causing this slide ...haven't checked the news but maybe Trump has been opening his gig gob again

Still see further downside

I would like to see the median level off, or -better- turn up a bit before trying a long. Meanwhile, I'll go pop some popcorn.

Median of Dow on M15 has turned, or at least leveled -- interesting.

57.4x seems next target

I haven't followed oil last couple of days because I wanted to try dax
I was looking too for any news justifying this free fall but couldn't find any yet
345 ticks run down on wti cfd oanda so far

Marker conditions + inventory numbers triggered downfall imho.

Hi All, should have followed my own advice lol, D

Li, taken a punt on the SP long, think the drop was overdue for a bounce, whats your verdict, cheers, D
EDIT
Based on the 4hr it looks like a pullback, target 2885

Watching wti for a possible long.