WTI Crude Oil Trading

Still think this level critical

EDIT ...volume area around Dow 24936 at the moment, could be significant if we tic back over

I need to go out today

Great trading

Good day
wti cfd [email protected], tp open, sl-20 will evaluate

[email protected]

lots of confluence points on the Daily at the area

WTI dives 3% to $ 55 as global trade war flares up
31 May 2019, 12:52

1. US-led protectionism sparks global recession fears, kills risk appetite.
2. Further downside likely in play ahead of US inflation and oil rigs count data.

WTI (futures on Comex) gets hammered alongside other higher-yielding assets in a complete risk-averse market environment, with markets scrambling for the safety bets such as gold, the Yen amid heightened global recession fears, fuelled by escalating trade war between US-China and now a new with Mexico.

The US oil lost as much as 3% and tested the 55.00 level, hitting the lowest levels since March, 8th 2019, as markets fretted that a global economic slowdown would dent the demand for the fuel. Adding to this, the Chinese manufacturing sector activity further slowed down in May and accentuated the demand concerns from the world’s no. 2 oil consumer.

Also, the sentiment around the black gold remains tepid after the US EIA crude stocks data showed a smaller-than-expected decline in the US crude inventories. The US crude stocks fell by around 300,000 barrels last week to 476.49 million barrels vs. the 900,000-barrel decline analysts forecast in a Reuters poll.

Amidst widespread risk-aversion, any recovery attempt is likely to be short-lived, as traders await the US macro news and rigs count data due later in the NA session.

Hello all, I'm tempted to long (think you know how I feel about this) but feel we have hit a falling sup line, just need to find the best point of entry, I may have a solution for that, ask the board, LOL, what you guys thinking, D

NOW !!! Manage your account properly. Enter long now with 1/5 the size of your normal entry position. $55.85 is your next entry level.
Regards ,
GE

Well said GE, any particular reason behind the entry, I was looking at the Big Round Number (BRN) 55 or a possible entry from here'ish,D

Hello D,
cannot help you as I am looking for a chance to scalp short
but ready to join you on a long if I see an opportunity

Great minds think the same . On 5M the slope is getting horizontal still not ready for me to long but keeping an eye on it

55.14 is the TL, will see volume around here, going to stalk this position, no in two feet and jump, here,D

wti cfd [email protected], tp open, sl@-15 will evaluate

In now on the dip 1/2 position size, thanks GE, D
EDIT
55.22

Few!!

Also looking for a possible long on the DOW on 5M

[email protected]

Detector , this market is going to be erratic TODAY IN PARTICULAR !!! LAST DAY OF THE MONTH !!!
Businesses are balancing their portfolios today , BIG TIME !!
At time of writing , trading at $58.293

Regards and GREEN PIPS.
GE

Haven't looked yet Li, was keeping an eye on this possible bull trap, D