WTI Crude Oil Trading

I know .... shorted way to soon if it doesn't rise another 1000 points i am ok.

WTI CLINGS TO DAILY GAINS AFTER BAKER HUGHES DATA, ADDS NEARLY 10% THIS WEEK
21 June 2019, 21:34

 

1. U.S.-Iran conflict fuels crude oil's rally this week.
2. Baker Hughes rig count ticks up to 789 from 788.
3. Barrel of WTI posts largest weekly gain in a long time.

Crude oil rallied this week boosted by a number of critical developments and the barrel of West Texas Intermediate gained nearly 10% to post its largest weekly percentage gain since November 2016. As of writing, the WTI was adding nearly $5 on the week and 0.6% on the day.

Escalating tensions in the Middle East after Iran shot down a U.S. drone earlier this week caused concerns over major supply disruptions and President Trump announced that more sanctions on Iran were added last night.

Commenting on the conflict and its potential impact on the oil market, "There is no doubt that a severe disruption to the transit of oil through this vulnerable route would be extremely serious," said consultancy FGE Energy in a note, via Reuters.

Additionally, hopes of President Trump and President Xi meeting on the sidelines at the G20 and taking a step toward a trade agreement provided an additional boost to commodities this week.

Meanwhile, the last data of the week from the U.S. published by Baker Hughes Energy Services revealed that the number of active oil rigs in the U.S. rose to 789 from 788 a week ago but didn't have a notable impact on crude oil prices.

WTI short closed for a slight loss, D

Hello TC, I tried the Mag7 and it's a great tool,what I have found is closing the trades via the EA, they don't all close and I have to close the last one manually, only thing I could suggest is do I need to have Dll ticked in the settings, other than that an excellent way to open the trades and monitor, could this be adapted for other trade-able options, add certain regular used ones?, or is this just solely for USD, thanks D

Li check your inbox!!

Timingchain, based on a sneek peak, I have used the mag7 and short the USD

Searching for direction.

Sell-Limit Oil @ 64 —> 67 / 43 ...

TC, think the outer boundary of the chart then down 58+ all that has been was and peace on the horizon, US to negotiate with IRAN, it's game over, said it at the start, the US doesn't want high oil prices, just my opinion, D

D, all of the buttons work--go with any currency that is showing strength or weakness. That takes some practice to become good at it. This is a tool for the human trader, not a robot--there is no automation, only fixed responses to user selections and then monitoring TP & SL.

This works for any of the 8 currencies shown. DLL is not needed.

The app contains code that works to insure all opens and closes are done completely. Let me know if this persists. Differences in data handling under different broker platforms is always a potential problem.

Thanks for giving it a try. Please be careful. ~tc

TC, It's usefull, single or multiple, that's the only problem I have experienced, other than that, spot onD

Last rumours i hear is that sponge is selling his private islang (for a bigger one ofcourse ).

I managed to obtain his promotion video

WTI: Rally stalls near 200-DMA amid rising US-Iran tensions
24 June 2019, 12:45

 

1. Escalating US-Iran geopolitical tensions accentuate oil supply concerns, boost prices.
2. Hopes of OPEC+ cuts extension and US-China deal ahead of G20 Summit underpin.
3. Eyes on US-Iran news, US weekly crude supply reports and trade for fresh directives.

WTI (futures on Nymex) pulls back from fresh three-week highs of 58.21 reached in early trades, now consolidating below the 58 handle, as the bulls await fresh developments surrounding the US and Iran for the next push higher.

Upside stalls just below the 200-daily moving average (DMA)
The US oil rose over 1% so far this Monday, reacting positively to the increased supply risks, emanating from mounting geopolitical tensions between the US and Iran after the US Secretary of State Pompeo announced over the weekend that the US would announce “significant sanctions” on Iran on Monday.
This comes after the US drone was shot down by Iran on Thursday that escalated the Middle East tensions and almost prompted the US to retaliate. It was reported on Friday that the US President Trump called-off an imminent military strike on Iran.

While the Iranian conflict drove WTI about 10% higher last week, the expectations that the OPEC+ will agree on extending the oil output cuts next month also keep the sentiment around the black gold buoyed. Further, broad-based US dollar weakness on dovish Fed rate expectations also collaborate to the bullish momentum in the prices. A weaker greenback makes the USD-denominated oil cheaper for the holders in foreign currencies.

Despite the upbeat momentum, the bulls take a breather after having run into the key 200-DMA placed at 58.29. A break above the last will open doors for attest of the 100-DMA at 58.76. Meanwhile, “on the downside, the 200 weekly EMA (last week's low) and the 61.8% Fibo come into focus that guard prospects for a correction to back towards the14th Jan 50.41 low and then the 26th November lows at 49.44,” FXStreet’s Analyst, Ross J. Burland notes.
Attention now turns to the US weekly crude stocks report due later this week and on the US-China trade developments for fresh trading impulse.

shorted DAX for breakout on H1

LiveSquawk‏ @LiveSquawk 2m2 minutes ago
IEA Executive Director Birol: Have Not Seen Major Impact On Oil Prices From Middle Eastern Tensions Due To Strong Growth In US Shale #OOTT

LiveSquawk‏ @LiveSquawk 2m2 minutes ago
IEA Executive Director Birol: Strong Growth In US Shale Oil Prices Provides Ceiling On Price Hikes #OOTT

Wasn't moving at all Out with +7 points barely enough to take the family to mcdonalds

WTI BACK BELOW 4-HR EMA, IRAN RISK DIALLED-DOWN
24 June 2019, 20:18

 

1. WTI back below the 4HR 200 EMA, losing sight of $60 handle.
2. Trump is not about to start a war with Iran, but disruptions in the area to keep upside underpinned.

West Texas Intermediate crude prices moved broadly lower Monday while new U.S. sanctions on Iran have failed to support price. Trump announced new sanctions against Iran, something that the Trump administration was not necessarily in direct response to the attack on the military drone last week. However, the administration is taking aim at Iran's Supreme Leader, Ayatollah Khamenei, albeit seeming to be hesitant to engage in war, which is giving some relief to risk on Monday - Although Trump's message to Iran is clear that the US will not allow Iran to pursue a nuclear weapon and the market is increasingly recognizing the risk of a geopolitical miscalculation that could result in a serious disruption near the world's most important chokepoint for oil markets.

Elsewhere, although in the same vein, analysts at TD Securities note that risks to oil supplies are growing in Libya and Venezuela, while geopolitical tensions in the Gulf could also lead to disruptions for Aramco, with Houthi missiles increasingly attempting to target Saudi Arabia's oil facilities.

"While the geopolitical backdrop has helped to firm prices, we suspect that the FOMC's dovish meeting catalyzed the reversal in prices, particularly ahead of OPEC's upcoming meeting, where an extension of the cut is likely in the bag. Reflecting the waning downward momentum in prices, the bar is low for CTAs to buy Brent crude, although the implied flow would be only marginal."

WTI levels
Capped at the weekly 20-Experiential Moving Average, WTI has bowed out of an advance towards the 200-D EMA and has stumbled below the 4HR 200 EMA in recent trade. If the price can't sustain a bid, bears can target back down to the 200 weekly EMA (last week's low) and the 61.8% Fibo. A full breakdown opens prospects for a correction to back towards the14th Jan 50.41 low and then the 26th November lows at 49.44. On the upside, a break above the 200-D EMA, bulls can target through the 30th May highs of $59.67 and be back on course for the $60 psychological level.

opened short NQ 7751.50

EDIT
out at BE

WTI looking weak with a lot of room to downside.

https://www.zerohedge.com/news/2019-...straits-hormuz