WTI Crude Oil Trading | Page 205 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

WTI/USD

Similar Threads

Reliable broker for Crude Oil trading 20 replies

making money intraday CL/WTI/OIL - no overnight holds 13 replies

WTI Crude Oil (TRENDSURFING - with the help of the model) 634 replies

Trading Oil WTI to get back all! 18 replies

Hedge WTI and Brent Oil 1 reply

Attachments: WTI Crude Oil Trading
Exit Attachments

WTI Crude Oil Trading

  • #4,081
  • Sep 26, 2019 1:43pm Sep 26, 2019 1:43pm
Quoting Ll1979
{quote} Nice profits and good night!
Li, as ever,thank you (last look before close) stay well my friend, see recent news for WTI, US deploy military equipment to Saudi, price spiking up, speak soon, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,082
  • Sep 26, 2019 1:49pm Sep 26, 2019 1:49pm
Quoting detector
{quote} Li, as ever,thank you (last look before close) stay well my friend, see recent news for WTI, US deploy military equipment to Saudi, price spiking up, speak soon, D
Just read it

OIL PRICES REBOUND AFTER PENTAGON SAYS THAT US WILL DEPLOY MILITARY EQUIPMENT TO SAUDI ARABIA
26 September 2019, 21:26

Crude oil prices gained traction after Pentagon announced that the United States will be deploying military equipment and support personnel to Saudi Arabia in response to the drone and missile attacks that targeted Saudi Arabian oil facilities earlier in September.
As of writing, the barrel of West Texas Intermediate was trading at $56.50, losing 0.3% on the day and the barrel of Brent was up 0.35% at $62.70.
The commodity-sensitive Loonie also gathered strength on this development and the USD/CAD pair erased its daily gains to turn flat at 1.3260 in the last minutes.
persistence and determination alone are omnipotent
  • #4,083
  • Sep 26, 2019 2:26pm Sep 26, 2019 2:26pm
Nice information. Thanks

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2019-09-27-03-25-15.jpg Size: 799 KB
  • #4,084
  • Sep 26, 2019 2:34pm Sep 26, 2019 2:34pm
Quoting detector
{quote} I'm closing before the break NN
Sorry, what does this mean? Sad to see you go from this thread, but looking forward to your continued contribution!
  • #4,085
  • Sep 26, 2019 2:36pm Sep 26, 2019 2:36pm
Quoting Ll1979
{quote} Just read it OIL PRICES REBOUND AFTER PENTAGON SAYS THAT US WILL DEPLOY MILITARY EQUIPMENT TO SAUDI ARABIA 26 September 2019, 21:26 Crude oil prices gained traction after Pentagon announced that the United States will be deploying military equipment and support personnel to Saudi Arabia in response to the drone and missile attacks that targeted Saudi Arabian oil facilities earlier in September. As of writing, the barrel of West Texas Intermediate was trading at $56.50, losing 0.3% on the day and the barrel of Brent was up 0.35% at $62.70....
It almost came down to "pre-Saudi" incident... but now it "corrected"... Not exactly sure how market perceive this... Yeah, the markets would have to price-in the "protection" by US... but the oil fields will be less exposed to another possible threat... Also the presence of the protection would imply some exposure to begin with

My stance is still south, but of course.. if they would try to "correct" it up... that can always happen, at least temporary.. So the question now is what timeframe are we talking... Since I believe majority here are day traders? Or "monthly" traders at most? I would say that.. SOUTH, but + ALERT on the US moves... regarding the Middle East in general...

BTW, very interesting name they have for the rockets "Patriot missiles"... The next ones might be named "love for all" or something https://www.reuters.com/article/us-s...-idUSKBN1WB2JC
Can you afford to take that chance?
  • #4,086
  • Sep 26, 2019 3:11pm Sep 26, 2019 3:11pm
Quoting auricforecas
{quote} It almost came down to "pre-Saudi" incident... but now it "corrected"... Not exactly sure how market perceive this... Yeah, the markets would have to price-in the "protection" by US... but the oil fields will be less exposed to another possible threat... Also the presence of the protection would imply some exposure to begin with My stance is still south, but of course.. if they would try to "correct" it up... that can always happen, at least temporary.. So the question now is what timeframe are we talking... Since I believe majority...
I join your vision oil prices have room to go SOUTH.
The relative modest rise in price (compared to other historic oil events were price soars severals 10s of dollars) after the attacks explains it all.

The bad:

  1. Summer has come to an end and so does global demand.
  2. Soon the pipelines in permian will be ready and more supply will hit the markets

The good:

  1. A trade deal with China will boost global demand

persistence and determination alone are omnipotent
  • #4,087
  • Sep 26, 2019 3:18pm Sep 26, 2019 3:18pm
Quoting Ll1979
{quote} I join your vision oil prices have room to go SOUTH. The relative modest rise in price (compared to other historic oil events were price soars severals 10s of dollars) after the attacks explains it all. The bad: Summer has come to an end and so does global demand. Soon the pipelines in permian will be ready and more supply will hit the markets The good: A trade deal with China will boost global demand
Wow man, that is a good point to be made... In that gradient (derivative) there is a lot of information... In fact there or some experiments in another fields (to show some analogy) where you measure the effects (only - at first) and then calculate all the rest from this gradient/change/delta/derivative Analogy to some temperature changes measurements... (heat capacities, heating, cooling, change, over time...)...

But, very good point! Because the market was not static before it happened.. It had it's capacity/resistance/trend/cycles etc... and this disturbance and "reabsorption" are vital infos in this Saudi incident... Not easy to put in exact numbers, but graphically/intuitively is much easier..

Great man
Can you afford to take that chance?
  • #4,088
  • Sep 26, 2019 4:33pm Sep 26, 2019 4:33pm
Attached Image (click to enlarge)
Click to Enlarge Name: wti_h4_20190926.png Size: 77 KB
  • #4,089
  • Sep 26, 2019 4:44pm Sep 26, 2019 4:44pm
Quoting nastynatty
{quote} Sorry, what does this mean? Sad to see you go from this thread, but looking forward to your continued contribution!
Nasty Natty (NN) I abbreviated your name, hope this is ok, I was closing my position before the break the market has at UK time 10pm, reason I done this, if there was any news within the hour the price could gap, wouldn't leave anything to chance, I will still visit the thread but only post info about WTI, seems more fitting to open another thread, viewers want to see WTI info, when we post on other subjects, valuable information could be lost, hope you can visit when it's set up, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,090
  • Sep 26, 2019 11:09pm Sep 26, 2019 11:09pm
Quoting auricforecas
{quote} It almost came down to "pre-Saudi" incident... but now it "corrected"... Not exactly sure how market perceive this... Yeah, the markets would have to price-in the "protection" by US... but the oil fields will be less exposed to another possible threat... Also the presence of the protection would imply some exposure to begin with My stance is still south, but of course.. if they would try to "correct" it up... that can always happen, at least temporary.. So the question now is what timeframe are we talking... Since I believe majority...
You make a good point. It’s difficult to understand why oil would be trading where it was prior to the Saudi attack when there is so much geopolitical tension now. However, the fact oil couldn’t muster a better rally seems very bearish. If this is the best oil could do when half of the Saudi supply went offline, what’s it going to take for a real rally to take hold?
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #4,091
  • Sep 27, 2019 12:49am Sep 27, 2019 12:49am
WTI has been dropping since the open of the week. What I just noticed and probably doesn't have much significance, still interesting. Every day this week at 7am, WTI took a direction.
Attached Image (click to enlarge)
Click to Enlarge Name: SNAG-0067 1.42.06 AM.png Size: 15 KB


I'm flat and staying out of WTI until I can understand it. The fact that it has rallied after the last two weeks when EIA inventory showed surprise builds in crude. Since I don't trade technical, if I can't understand why prices are moving then I'd be better off heading to Vegas and spending some time at the casinos.

I've been bearish and remain bearish on oil in the long term. But there are too many risks in shorting it IMO. I'll be checking back to see how everybody fared to close out the week. Good luck guys!
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #4,092
  • Sep 27, 2019 2:31am Sep 27, 2019 2:31am
IEA’S BIROL: IEA MAY CUT ITS OIL DEMAND GROWTH ESTIMATES IF GLOBAL ECONOMY WEAKENS
27 September 2019, 09:43

While speaking on the sidelines of the World Knowledge Forum in Seoul on Friday, the International Energy Agency (IEA) Chief Faith Birol told Reuters that the Paris-based agency may cut its 2019 global oil demand growth estimates if the global economic outlook deteriorates further.
persistence and determination alone are omnipotent
  • #4,093
  • Sep 27, 2019 5:04am Sep 27, 2019 5:04am
I bought in this morning on activity and made a sheckle, think rather than trying to figure it out for a trend it’s best as an opportunist scalp, do think it’s down but the chart says up, we can only trade as we see, I’m away from my system so cannot comment on any future direction but good chess all D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,094
  • Sep 27, 2019 6:03am Sep 27, 2019 6:03am
WTI FAILS TO RESIST AGAIN ABOVE $ 56.50, US DATA IN FOCUS
27 September 2019, 12:51

 

  1. Oil bulls find support from risk-on European trading.
  2. Further upside lacks momentum on oil demand growth concerns, firmer USD.
  3. All eyes on US Durable Goods and Rigs Count data for fresh direction.

The recovery in WTI (futures on Nymex) once again lost legs above the 56.50 level, in the wake of prevalent bearish sentiment, as concerns over oil demand growth outlook continue to weigh.
WTI: Bias leans to the downside
The barrel of WTI staged a solid comeback in the European session but the upside momentum quickly lost traction, as investor sentiment was dampened by the latest comments from the International Energy Agency (IEA) Chief BIrol’s comments. Birol said that the agency was looking to cut the 2019 global oil demand growth forecast if the global economy weakens further.
Moreover, the ongoing US dollar strength against its main competitor, mainly driven by increased safe-haven demand amid US political woes, is likely to keep the recoveries shallow in the black gold while receding fears of Saudi Arabian supply threats also remain a risk to the oil-price rebound.
However, the latest leg up in oil can be attributed to the risk-on action seen in the European markets, as traders cheer Bank of England’s (BOE) dovish expectations and US-China trade optimism.
Markets now eagerly await the US Durable Goods and Baker Hughes Oil Rigs Count data for the near-term trading opportunities in oil.

persistence and determination alone are omnipotent
  • #4,095
  • Sep 27, 2019 6:48am Sep 27, 2019 6:48am
Quoting EventsTrader
WTI has been dropping since the open of the week. What I just noticed and probably doesn't have much significance, still interesting. Every day this week at 7am, WTI took a direction. {image} I'm flat and staying out of WTI until I can understand it. The fact that it has rallied after the last two weeks when EIA inventory showed surprise builds in crude. Since I don't trade technical, if I can't understand why prices are moving then I'd be better off heading to Vegas and spending some time at the casinos. I've been bearish and remain bearish on...
Snap

Not very clear atm sideways to nowhere but bearish for now I think.

I think 55.60 would close the gap (according to my charts)

56 Was a real pain in the butt yesreday, I think a break could swing it down to 55.50/54.65
All charts/ideas based on UK time zone
  • #4,096
  • Sep 27, 2019 7:45am Sep 27, 2019 7:45am
the gap is close
Attached Image (click to enlarge)
Click to Enlarge Name: ??? ????.png Size: 32 KB
yes yes yes
  • #4,097
  • Sep 27, 2019 7:52am Sep 27, 2019 7:52am
took a small short on the dow
persistence and determination alone are omnipotent
  • #4,098
  • Sep 27, 2019 10:58am Sep 27, 2019 10:58am
WTI RECOVERS ABOVE $56.50, REMAINS ON TRACK TO POST LARGE WEEKLY LOSSES
27 September 2019, 18:16

 

  1. The International Energy Agency (IEA) could lower demand outlook.
  2. Saudi Arabia on Friday announced a temporary ceasefire in Yemen.
  3. Barrel of West Texas Intermediate (WTI) is down more than 4% this week.

Crude oil prices remained under pressure on Friday and the barrel of West Texas Intermediate (WTI) dropped to its lowest level in two weeks at $54.73 pressured by easing tensions in the Middle East and global demand concerns.
Saudi Arabia on Friday agreed to a partial ceasefire in Yemen and revived hopes of the four-year war between the kingdom and Houthi militants coming to an end and weighed on crude oil prices.
Energy demand outlook continues to hurt crude oil prices
In an interview with Reuters, the International Energy Agency's (IEA) director, Fatih Birol, said that they could lower the demand forecasts for the rest of the year and 2020. "If the global economy weakens, for which there are already some signs, we may lower oil demand expectations," Birol said and put additional weight on crude oil's shoulders.
Although the WTI staged a technical recovery and turned positive on the day near $56.70 in the last hour ahead of the Baker Hughes' weekly oil rig count data, it still erases nearly 4% on a weekly basis.

persistence and determination alone are omnipotent
  • #4,099
  • Sep 27, 2019 11:38am Sep 27, 2019 11:38am
Quoting Ll1979
took a small short on the dow
How did the short go Li, almighty fall earlier on, hope you were part of it,D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,100
  • Sep 27, 2019 11:49am Sep 27, 2019 11:49am
Quoting detector
{quote} Could be a costly mistake but dipped under the rising trend line, looking for a bounce above then a rise, all speculative of course, D EDIT May have some volume coming in, indicators changing, may get the bounce, fear we may be going to -55, all at a transition at the mo,
Was a day early with my guesstimate, see the daily has bounced again on rising trend line, if it carries, 57 min target, have to agree we're in a weird situation, it's beyond me as to what will happen to make this rise, I can only say catastrophe (and it's a damn shame) revolves around this,
I don't need to be good at the game, only good enough to beat my opponent,
12 traders viewing now