WTI Crude Oil Trading

Keeping my fingers crossed.

Me too, I'm looking -ve but no where near having to top that much up, phew,you must have nerves of steel, D
EDIT
This is the only problem in trading the Dow,it can fake by 100 points move and not blink!!

LoD was 50.60 -- still looking very weak.

Gap down at reopen, D

I am lucky to have deep pockets and making it a longterm play but it goes against my nature. If you are way over your risk levels take your loss it's not worth having a big drawdown on your account. Hope to see a start of the deop today.

WTI benefits from USD weakness, trade/political news in the spotlight
6 June 2019, 08:09

 

1. Greenback weakness, negatives for Saudi Arabia and IMF leader’s statements triggered a recent pullback.
2. $50.50 – $50.00 acts as strong downside support to watch.

Having slumped to the lowest since mid-January, WTI recovers some of its latest losses to trade around $51.80 while heading into the Europe markets’ open on Thursday.

While the US Dollar (USD) weakness, which has a negative correlation with the commodity basket, is likely the main reason behind the black gold’s recent up-moves, positive comments relating to the global growth from the International Monetary Fund’s (IMF) leader Christine Lagarde also played its part in calling buyers back at home.

Additionally, CNN news that China helping Saudi Arabia build missiles might also lure some crude bulls as the US might not like the OPEC leader’s alliance with its present arch rival, China.

The energy benchmark has been on a downturn off-late because the US-led trade tensions join increasing inventory levels.
Looking forward, the final decision on another chapter of global trade wars, between the US and Mexico, will be closely followed during the day as lawmakers of both the economies are to meet for one more time before the fresh tariffs levy on Mexican products.
Also on the investors’ radar will be developments surrounding the US-China relations that has gone sour during recently.

Technical Analysis
$50.50 - $50.00 area comprising multiple lows marked since November 2018 presently challenges the bears, a break of which can might not hesitate recalling $48.50 and $47.30 back to the chart.
Meanwhile, $53.50, $54.60 and $56.50 can entertain short-term buyers ahead of pushing them in the direction to March month tops near $57.90 - $58.00.

Wow!!!! super duper trade

WTI Still mixed I think but I'm watch the 5/15 frames for a buy signal, I think the longer frames are bullish for now

Dow could still make the upside targ 26000, Gold had a dip yesterday I think upside is limited for now but again a bit mixed on the frames.

Not very helpful..sometimes my old brain just seizes up

Also looking for a breakout on WTI most likely on the upside.

Dow resistance possible 25631

I prefer SPX - it follows almost identically the DOW footprint and is 1/10 of the price. Allows for position building in a less frantic manner.

Sr.Trump knows as much as his administration that it will be difficult for a country like Mexico to accept his changes as soon as possible, including in this that he will also be asked not only to stop illegal migration, but also the hardest, the drug issue
So the tariffs start on Monday

Right. Mexico is also pushing back on the flow of arms into Mexico from US. This action is going to hurt US economically with jobs lost.

WTI struggles to take on the recovery above $ 52.50
6 June 2019, 13:01

1. Improved risk tones aid the recovery from January lows.
2. Rising US supplies, global growth concerns remain a weight on the prices.
3. Focus on trade wars and global equities for fresh trading impetus.

WTI (futures on Comex) broke the overnight consolidative phase to the upside in the European session, as the recovery regained traction amid the resurgent demand for higher-yielding assets, as reflected by the risk-on action in the European equities.
Moreover, a bout of profit-taking cannot be ruled out after Wednesday’s heavy sell-off to five-month troughs of 50.62. Additionally, broad-based US dollar weakness is also lending some support to the fresh leg higher. A weaker US dollar makes the USD denominated oil cheaper for the holders in foreign currencies.

However, it remains to be seen if the black gold can extend the latest bounce above the 52.50 level, as escalating US-China trade war, US-Mexico failed trade talks and rising US crude supplies continue to dampen the sentiment around the barrel of WTI.

The latest Energy Information Administration (EIA) data showed that the US crude production rose to a record 12.4 million barrels per day (bpd) in the week to May 31. Meanwhile, the US commercial crude inventories jumped by 6.8 million barrels in the same week, to 483.26 million barrels, their highest since July 2017, as cited by Reuters.

Attention now turns towards the sentiment on Wall Street and fresh trade-related developments will also offer fresh cues on the oil price-action ahead of the US macro data.

Opened short NQ 7255.00, very small position.

ED. stopped out on surge.

sorry to hear that timingchain

Hello all, opened another short on the Dow, Green Earth likes this method,still in for the retrace,D
EDIT
25616

break below fib 88.6 + ema 89 (purple) would accelerate things

May see 53 hit for WTI price slowly ticking but nothing substantial,very quiet, news out Russia and Saudi, think fair price is $60-$65, D
Songe, you called the Dow 25600

Looks to have touched the close of yesterday, D