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WTI Crude Oil Trading

  • #2,601
  • Jul 15, 2019 10:43am Jul 15, 2019 10:43am
Reopened the WTI short 58.58
I don't need to be good at the game, only good enough to beat my opponent,
  • #2,602
  • Jul 15, 2019 10:59am Jul 15, 2019 10:59am
Quoting sponge
I'm consentrating soley on WTI for a while I think it's a brilliant market to trade and although it sometimes goes sideway to nowhere you can usually pick up a decent trade each day. {image}
Great trade, smashed mine out the water!!

Gratz
I am but a small fish in a large pond
  • #2,603
  • Jul 15, 2019 11:17am Jul 15, 2019 11:17am
Quoting Borisytch
Topic closed! What was required! {image} {image}
No offence but these charts are waaaaaaaay to noisy for me, I cant even think where to begin!
I am but a small fish in a large pond
  • #2,604
  • Jul 15, 2019 11:18am Jul 15, 2019 11:18am
Guys/Gals, going to call it a night, away tomorrow, will catch up with you all in two weeks, good chess all, hope you win many, keep the board alive while I'm gone, I'm hoping I won't be missedD
I don't need to be good at the game, only good enough to beat my opponent,
  • #2,605
  • Jul 15, 2019 11:20am Jul 15, 2019 11:20am
WTI... complex tool. However, if you resort to the analysis of the work of a major participant, everything becomes clear!
Who the icebergs put on 400-500 lots... that's right, it's not only the largest participant in the market.
  • #2,606
  • Jul 15, 2019 11:36am Jul 15, 2019 11:36am
Quoting detector
Guys/Gals, going to call it a night, away tomorrow, will catch up with you all in two weeks, good chess all, hope you win many, keep the board alive while I'm gone, I'm hoping I won't be missedD
Cya D.

Hope you have a great time away!
I am but a small fish in a large pond
  • #2,607
  • Jul 15, 2019 11:44am Jul 15, 2019 11:44am
Quoting detector
Guys/Gals, going to call it a night, away tomorrow, will catch up with you all in two weeks, good chess all, hope you win many, keep the board alive while I'm gone, I'm hoping I won't be missedD
Vacation D?
persistence and determination alone are omnipotent
  • #2,608
  • Jul 15, 2019 11:52am Jul 15, 2019 11:52am
Quoting Borisytch
WTI... complex tool. However, if you resort to the analysis of the work of a major participant, everything becomes clear! Who the icebergs put on 400-500 lots... that's right, it's not only the largest participant in the market.
Interesting stuff Borisytch!
persistence and determination alone are omnipotent
  • #2,609
  • Jul 15, 2019 11:54am Jul 15, 2019 11:54am
Quoting Borisytch
WTI... complex tool. However, if you resort to the analysis of the work of a major participant, everything becomes clear! Who the icebergs put on 400-500 lots... that's right, it's not only the largest participant in the market.
How does it work? Would you mind enlightening me as I love learning about new things
I am but a small fish in a large pond
  • #2,610
  • Jul 15, 2019 12:29pm Jul 15, 2019 12:29pm
Quoting DCstar84
{quote} How does it work? Would you mind enlightening me as I love learning about new things
This is the FMind indicator group. They read the stock flow, and they find a major participant. Big market, big iceberg. And display it on the chart!
The indicator has been tested by NinjaTrader. Is in the licensed series. Is on the site. Insert FMind into the search.
It will soon be made under MT5.
  • #2,611
  • Jul 15, 2019 12:32pm Jul 15, 2019 12:32pm
Quoting Ll1979
{quote} Vacation D?
Work Li, vacation soon though, just popped in to see how trades were going, see the news out, seems the pressure is waning on oil, supply/tensions, I'm still short the Dow, closed WTI, nothing open when I'm away so will close out later, speak soon, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #2,612
  • Jul 15, 2019 12:34pm Jul 15, 2019 12:34pm
Quoting DCstar84
{quote} Cya D. Hope you have a great time away!
Cheers DC, unfortunately work, but holidaying soon, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #2,613
  • Jul 15, 2019 12:42pm Jul 15, 2019 12:42pm
Quoting detector
{quote} Work Li, vacation soon though, just popped in to see how trades were going, see the news out, seems the pressure is waning on oil, supply/tensions, I'm still short the Dow, closed WTI, nothing open when I'm away so will close out later, speak soon, D
Have a nice trip!
persistence and determination alone are omnipotent
  • #2,614
  • Jul 15, 2019 12:55pm Jul 15, 2019 12:55pm
WTI TECHNICAL ANALYSIS: SLIPS BACK BELOW FOOTHOLD ON THE $60 HANDLE
15 July 2019, 21:48

 

  1. WTI sinking below the watermark and psychological 60 handle.
  2. WTI can break the 20-day moving average and target support and confluence level.

Despite the weakness in the greenback, poor Chinese data negated the recent rally in global stocks and oil prices have been sent down below the 60 handle, capped by prior early May support, as markets finally factor in the likely impact of storm-related production shutdowns in the Gulf of Mexico. China's GDP growth has slumped to its slowest pace in almost three decades, as trade tensions weigh on sentiment and activity. GDP rose by 6.2% year-on-year in 2Q19 as was widely expected.
"With some 70% of crude output in the Gulf of Mexico shut over the weekend, some producers are expected to resume operations as storm Barry weakens, which should see crude markets return their focus on demand growth once again,"
analysts at TD Securities explained, adding:
"We judge that a rally much beyond $60/bbl for WTI may prove to be difficult to sustain. We continue to favour Brent in relative terms to WTI."

As for futures, the August West Texas Intermediate crude contract fell by 47 cents, or 0.8%, to reach $59.74 a barrel on the New York Mercantile Exchange. The black gold contact was finishing last week with a 4.7% gain. However, considering the pause in tensions between the U.S. and China on tariffs along with production being capped until March of 2020 by the Organization of the Petroleum Exporting Countries and other major producers, including Russia, bulls remain on solid grounds, likely committed to test another run through to higher levels on the 60 handl and above.

WTI levels
WTI can break the 20-day moving average and target the confluence of the 50 and 200 moving averages of the same period down at 57.90. A break there opens the weekly lows at 56.77, then the 52 handle and then the 14th Jan 50.41 lows. Further lower, the 26th November lows are located at 49.44 as a target. On the upside, another daily close above 60 would put the bulls on track for 63.79 as the next key target.

persistence and determination alone are omnipotent
  • #2,615
  • Jul 15, 2019 12:56pm Jul 15, 2019 12:56pm
OIL: CURRENT SUPPLY AND DEMAND CONDITIONS SUGGEST A PERIOD OF LOWER PRICES - BBVA
15 July 2019, 21:56

According to Marcial Nava, economist at the Research Department at BBVA, the slowdown in crude oil demand will continue to be the primary factor that determines prices in the short and medium-term. Their forecasts point to a gradual fall in 2019 and 2020.

Key Quotes:
“The uncertainty of our forecasts is dependent on two factors. The first is the progression of trade wars and their impact on world economic growth. The second is the evolution of the conflict between the United States and Iran, which could result in an interruption of the flow of oil through the Strait of Hormuz (through which 21% of the oil consumed worldwide passes) or a recovery of Iranian oil exports in the event of an agreement.”
“The outlook for OPEC is bleak. Despite production cuts, the price of Brent crude oil remains below $70 per barrel. Production is at its lowest point since 2015, due not only to voluntary cuts but also to structural and geopolitical factors that have diminished the supply of several member countries.”
“As long as these risks remain contained, the current supply and demand conditions suggest a period of lower prices. In the long term, our estimates point toward an equilibrium price of around $60 per barrel.”
persistence and determination alone are omnipotent
  • #2,616
  • Jul 15, 2019 2:14pm Jul 15, 2019 2:14pm
WTI July contract closed 161 pips off of its HoD, while equities avoided a weak close. WTI closed below EMA20.
Attached Image (click to enlarge)
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  • #2,617
  • Jul 15, 2019 5:00pm Jul 15, 2019 5:00pm
Quoting sponge
I'm consentrating soley on WTI for a while I think it's a brilliant market to trade and although it sometimes goes sideway to nowhere you can usually pick up a decent trade each day. {image}
Lovely!
  • #2,618
  • Jul 15, 2019 10:26pm Jul 15, 2019 10:26pm
Quoting sanjay21
Dear Friend I have studied Tech and Fundamentals Tried to develope method for intraday. Wrt to today high will be 60.78 61.28 And low will be 59.78 59.28 Sanjay21
Great call sanjay, it was late afternoon before I got a sniff of that low, well done
All charts/ideas based on UK time zone
  • #2,619
  • Jul 15, 2019 10:29pm Jul 15, 2019 10:29pm
Quoting DCstar84
{quote} Great trade, smashed mine out the water!! Gratz
Sorry for the broadside DC I'm sure you will return the favour

Good to have you aboard the good ship US Crude
All charts/ideas based on UK time zone
  • #2,620
  • Jul 15, 2019 10:42pm Jul 15, 2019 10:42pm
Looking for a return to pivot around 60.12

60.47 rejected yesterday but I still think we could see it again
All charts/ideas based on UK time zone
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