WTI Crude Oil Trading

Set tp to 55.
Give me a g v)
give me an a
Give a p
And what we got ?
Close that gap !!!
Close that gap !!!

WTI dropped 6% on the day as Saudi oil supply meets demand
17 September 2019, 21:13

 

1. WTI drops to the lowest levels of the day following the Saudi energy Minister's bullish statement.
2. WTI has dropped to a low of $58.54, travelling down from a high of $62.55 and down some 6% on the day.

The price of a barrel of oil has just hit the lowest levels since the week's attack on Saildi oil facilities following bullish remarks from the Saudi Energy Minister. WTI has dropped to a low of $58.54, travelling down from a high of $62.55 and down some 5% on the day at its lowest levels.
Speculators took profits at the highs yesterday considering there were no immediate escalations on the geopolitical front until the U.S administration claimed to have intelligence that Iran was indeed responsible for the attacks, but an outright military retaliation seems to have been averted and instead, the US will not seek war on Iran but will impose sanctions.
Saudi Energy Minister has said that supply is fully back online
The price of oil found further relief on the statement from the Saudi Energy Minister has said that supply is fully back online while production will be fully back online by the end of September.

1. Saudi energy minister: Oil supply is fully back online

"We acknowledge that OPEC nations, and particularly Saudi Arabia, have a direct incentive to downplay the impact of the disruption, as each individual nation would benefit from disincentivizing others' production," analysts at TD Securities had to say on the matter at the start of the week.
WTI levels
The market bounced hard on the fundamental weekend news which has thrown technicals off, but with the fundamentals now calming, technicals can come back into play and the downside is in play. The price surged to the vicinity of a 127.20% Fibonacci extension of the July swing highs to Aug swing lows but has since moved back, swiftly, to the 78.6% Fibo of the same range and prior Sep' highs in the 58.50/70s. A break below there will open the 61.8% Fibo and Aug resistance just below the 57 handle. On a re-escalation of fundamentals, the April highs at 66.58 will b back in vouge.

WOW I thought it would come back down, but not that fast! Still a lot to unravel here so I'm not taking large positions. Stay safe, friends!

Maybe all this was just to raise prices slightly after this news and
after that they attacked Aramco
https://www.cnbc.com/2019/09/11/reut...20of%20America
after that they attacked Aramco to raise prices

1 scalp trade today for a few points

Nice, it rebounded like 60pips+ (already) after I posted above...

Also WTI crude oil seem to stabilise/drop a little... will see soon (by the end of the week), where this is going.. Still sure to be on the SOUTH.. just maybe from offset

Thanks detector, I took the trade and took profit at 60.54, quite lucky. Was thinking to go short after that but didn't want to overtrade (it would be nice otherwise)

I understand that his thread is for us to discuss and share our views, of course depending on our style, strategy, risk appetite, we would end up in different opinions, it doesn't matter. We would respect all comments.

Is just nice to have a place to speak, trading can be very lonely.

Wow u got them all! I went long at 59 and closed at 60.50, was going to short at that point, but didn't do so as I didn't want to overtrade.

However, do u think that gap will be close soon? I think it will, but may take a while.

Tomorrow we have the fomc announcement .
oil can drop 4 points down

Late selling pushed the median below EMA20 for the close of session. The next bar on H4 might reverse, but I expect it will confirm the new Red Arrow.

I agree, it is moving back into the range.

WTI usually doesn't get rocked during the FOMC meeting, but tomorrow is going to be different. The Fed is expected to address the recent oil spike. It should be interesting. I preview a preview. Check it out! FOMC Meeting - September Preview

Nice one LiD

Hope you were part of it Auricforecas, it took me yesterday,, WTI rekindled my hope today though, D

17:30 cet cruid oil supply announcement
21:00 fomc forcast
21:30 fomc press conference

Let's the gap closing begin

Oil prices are down sharply by about 5%, after Saudi Arabia announced that it would return its oil supply to the series faster than expected.
The price of a WTI barrel is currently $ 60.33 - about 4% more than the barrel price of the barrel before the attack on Saudi oil supply.
Saudi Arabia's oil ministry said oil supply in the country would be fully back in series in two to three weeks.
"Geopolitical events have a tendency, in the initial stage, to resonate with the markets exaggerated, with the actual economic impact on the markets being much less," CITI chief strategist Stephen Whiting told CNBC. Whiting noted that a scenario worth considering is the possibility of a confrontation with Iran. The incident against Iran has long-term repercussions, Whiting said, "Temporary disruptions in Saudi Arabia's oil are a whole different thing."
More on global and world markets
Following the bomb blast, Americans are tightening their tone on Iran
personal reasons? The new role of Teva's CFO
More than Yom Kippur War: Will oil production damage cause a recession?
Without getting involved: This is how you can bundle all documents together efficiently and without paper (Promoted Content)
Recall, during the weekend, drones attacked Saudi Arabia's oil supply, causing heavy damage to two major oil facilities in the country - one of the largest in the world - causing more than 50% of its daily oil production to be cut.
The two affected facilities together produce 8.45 million barrels of oil a day. Aramco, which controls Saudi Arabia's oil infrastructure, announced a "suspension" of 5.7 million barrels a day, accounting for about 6% of global oil production.

Are you ready for the drop , and gap close ?
The made billions of dollars with the recent movement in the wti , loucy for me , i was on their side this time

Switched to long until the trend changes

I got my long orders in, should be filled here shortly.

I have no idea what is going to happen, but I know there's a lot of potential for something to happen.

I was thinking today that Bolton must be so pissed to be missing out on this Middle East action. This is basically his wet dream. And only days after he got fired! Then it hit me! This is not a coincidence!

Iran saw Bolton get fired, started feeling real comfortable, and gassed up the drones!!

You heard it here first folks.