WTI Crude Oil Trading

Sorry I couldn't call for it beforehand, I was visiting someone in a hospital when I saw this setup and when I reached home I posted.
Next time

To be honest I probably wouldn't have taken it my head was full of bull

Good trade tho, I like your style going for the big moves

No trades for me this morning I'm on the side for now

There's a little something here, it's little sharp but worth to watch, can sell on the red line for 55.00
Be careful at today's inventory numbers

Sold here again:

EIA: COMMERCIAL CRUDE OIL INVENTORIES DECREASED BY 3.1 MILLION BARRELS FROM PREVIOUS WEEK
17 July 2019, 17:44

The weekly report published by the U.S. Energy Information Administration showed that commercial crude oil inventories in the US decreased by 3.12 million barrels in the week ending July 12 to 455.88 million. Market consensus pointed to a decline of 2.7 million.
According to the report, gasoline stocks rose 3.57 million barrels to 232.75 millon (against expectation of a 0.9 decline) and distillate stocks rose 5.69 million barrels to 136.2 million.
Crude oil prices turned lower after the report. WTI dropped toward $57.50 and then climbed back, approaching the level it had before the report.

I am expecting reaction from support right now, and long to 66.60. Then maybe again short.

I am +64 atm, normally I would crap out here but I'm sticking with it ..thanks for the heads up aariapoor

Haven't traded this market, Seems to paint a different volume picture, I have possible support at 63.72

Nice trading Sponge! 55.9x seems to be a nice target on the weekly.

Hey Li I'm just copying aariapoor's trade ...credit where it's due

#WTI / H4 / Two Ideas

S&P500 falling below 3000, I thought we would get to 3300, pundits seem to think capitulation is near

Nice trading champ!

Another pause in the plunge. The patterns following the 2 red arrows are rather similar.

I closed at 56.94 with 105 points, I probably regret closing, may re-enter short below 56.73

not a bad morning, got wrong footed once again but managed to recover

Nice trades sponge!

WTI LOOKS TO REGAIN $ 57 MARK DESPITE US STOCKS SURGE, RISK-OFF
18 July 2019, 12:37

 

1. Depressed amid US fuel stocks surge and risk-aversion.
2. US-Iran geopolitical uncertainty leaves oil in a limbo.

WTI (futures on Nymex) keeps its range trading intact just below the 57 handle, as the bears consolidate two back-to-back days of losses, in the face of bearish crude inventories report form the US and trade/ geopolitical uncertainties.

The black gold trades depressed, as the investors’ sentiment remains weighed down by the surge in the US fuel stockpiles that suggested weak demand during the US summer driving season.

According to Reuters, “the U.S. Energy Information Administration (EIA) showed a larger-than-expected drawdown in crude stockpiles last week, but traders focused instead on large builds in refined product inventories dragging prices down.”

Moreover, a lack of clarity on the US-Iran geopolitical front combined with the US-China trade stand-off keep investors away from buying higher-yielding assets such as oil, fueling a wave of risk-aversion across the board. The European equities are trading with moderate losses while Treasury yields continue to trade on the back foot.
However, the buyers look to derive some support from broad-based US dollar weakness over the last hour, now prompting a tepid bounce in a bid to regain the 57 handle. A weaker greenback makes the USD-denominated oil cheaper for foreign buyers.

In the session ahead, the sentiment on Wall Street could offer fresh trading impulse to the oil traders, as they weigh in the latest US stocks data.

Another sell opportunity guys!
I saw it late but I think can jump in for the last sell setup here: