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WTI Crude Oil Trading

  • #4,201
  • Oct 3, 2019 4:38pm Oct 3, 2019 4:38pm
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  • #4,202
  • Oct 3, 2019 6:13pm Oct 3, 2019 6:13pm
Quoting sponge
To any UK trader in here. What does the Defence Union mean to you? Nothing to do with trading I just need to know if anyone is aware of what is happening with our armed forces. I have sent 3 emails to my local MP's with the same question but not one took the bother to reply...or they are just plain stupid and have no idea !!!!
On second thought, might it be UK + Ireland (good), or UK + EU (bad).

EDIT
A quick search indicates: EU Defense Union
  • #4,203
  • Oct 3, 2019 7:59pm Oct 3, 2019 7:59pm
Quoting timingchain
{quote} On second thought, might it be UK + Ireland (good), or UK + EU (bad). EDIT A quick search indicates: EU Defense Union
Europe is very tired of the British cutlery, bad education and arrogance. Brexit is much better for everyone. Out is out! But for British schizophrenia out is out and inside simultaneously.
.
  • #4,204
  • Edited Oct 4, 2019 12:05am Oct 3, 2019 10:28pm | Edited Oct 4, 2019 12:05am
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Update: price is on break up point
yes yes yes
  • #4,205
  • Oct 4, 2019 12:23am Oct 4, 2019 12:23am
Inserted Video
persistence and determination alone are omnipotent
  • #4,206
  • Oct 4, 2019 12:25am Oct 4, 2019 12:25am
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yes yes yes
  • #4,207
  • Oct 4, 2019 12:42am Oct 4, 2019 12:42am
Crude have maintained a sustained bullish set-up. 53.50 is certain today.
  • #4,208
  • Oct 4, 2019 12:45am Oct 4, 2019 12:45am
Quoting Sunnycliff
Crude have maintained a sustained bullish set-up. 53.50 is certain today.
Ehh, I'm not so sure. I think getting long here risks catching a falling knife.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #4,209
  • Oct 4, 2019 5:59am Oct 4, 2019 5:59am
WTI stuck in range below $ 53 ahead of US data
4 October 2019, 12:56

 

  1. Oil keeps mild recovery gains, still remains vulnerable below 52.00.

  1. All eyes remain on the US Payrolls and Oil Rigs Count data for fresh direction.

WTI (oil futures on NYMEX) trades in a narrow range in the upper bound of the 52 handle so far this Friday, consolidating the recovery following Thursday’s sharp drop to the 51 handle.
Despite the moderate advance, the bulls remain cautious amid reduced appetite for the risk assets such as oil, as we progress towards the key event risk for today, the US Labor market report, that may have a significant impact on the dollar trades, in turn influencing the USD-denominated oil.
The prices remain on track for a big weekly loss, in the face of rising fears that the global economic downturn will heavily temper the oil demand growth prospects. Moreover, swelling US crude inventories combined with the restoration of the Saudi oil production capacity continue to keep the sentiment around the barrel of WTI undermined.
Markets now await the US employment data and Baker Hughes US Oil Rigs Count data for near-term trading direction in the prices. Also, the trade and US political headlines could drive the oil market sentiment going forward.

persistence and determination alone are omnipotent
  • #4,210
  • Oct 4, 2019 6:30am Oct 4, 2019 6:30am
bear is not slowing down,i need more consolidation and retest
  • #4,211
  • Oct 4, 2019 7:40am Oct 4, 2019 7:40am
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yes yes yes
  • #4,212
  • Oct 4, 2019 7:55am Oct 4, 2019 7:55am
Quoting Suryananda
{quote} Europe is very tired of the British cutlery, bad education and arrogance. Brexit is much better for everyone. Out is out! But for British schizophrenia out is out and inside simultaneously. .
Not quite sure how to take your post but coming from someone who asked a question on this thread and was answered by a British individual, namely myself and never even gave a thank you or reply, maybe you should keep your personal thoughts to yourself please.
EDIT
Even better remove it please
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,213
  • Oct 4, 2019 8:28am Oct 4, 2019 8:28am
Brent crude seen between $60-$70/bbl in the longer run – UOB
4 October 2019, 16:16

Researchers at UOB Group in the Quarterly Global Outlook suggested the barrel of European reference Brent crude is expected to navigate between $60 and $70 within the next year.
Key Quotes
“Amidst the higher trade tariffs, we can expect China’s GDP to drop below 6% next year. Concurrently, both Germany and Japan may suffer technical recessions across the turn of the year. As for the US economy, we can expect growth to ease from 2.5% this year to about 1.3% next year. Overall, this global synchronized slowdown will reduce crude oil demand and likely weigh on energy prices”.
“On the other hand, there are several positive drivers that appear to help Brent Crude Oil establish some near term support around USD 60 / bbl. The on-going OPEC production discipline seemed to be enforced with existing production limits. As such, despite the overall global growth slowdown, the backwardation in Brent Crude Oil futures curve has returned to a more healthy level”.
“In the US, West Texas Intermediate (WTI) also appears to have stabilized just above USD 55 / bbl. US crude oil rig count continued its trend like drop, falling to 738 for the week ending 6 Sep, from the peak of just under 900 at the end of last year. This would imply that US production will find it difficult to sustain its historic high going forward. In addition, inventory drawdown at Cushing has been larger-than-expected in recent weeks”.
“Overall, we continue to forecast Brent Crude Oil at USD 60 to 70 / bbl range over the coming four quarters. Meanwhile WTI Crude Oil is likely to stabilize at about a USD 5 / bbl discount to Brent Crude Oil”.
persistence and determination alone are omnipotent
  • #4,214
  • Oct 4, 2019 8:45am Oct 4, 2019 8:45am
Quoting Ll1979
Brent crude seen between $60-$70/bbl in the longer run – UOB 4 October 2019, 16:16 Researchers at UOB Group in the Quarterly Global Outlook suggested the barrel of European reference Brent crude is expected to navigate between $60 and $70 within the next year. Key Quotes “Amidst the higher trade tariffs, we can expect China’s GDP to drop below 6% next year. Concurrently, both Germany and Japan may suffer technical recessions across the turn of the year. As for the US economy, we can expect growth to ease from 2.5% this year to about 1.3% next year....
Hello Li, excellent info and contribution, as always, I have the chart on the daily saying a rebound to $57-$58, this is taking into consideration today could be a bull day, if so the print would create a rising support line, if it fails and breaks below (bull trap) $46 would be the next target, great work, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,215
  • Oct 4, 2019 8:48am Oct 4, 2019 8:48am
Quoting detector
{quote} Hello Li, excellent info and contribution, as always, I have the chart on the daily saying a rebound to $57-$58, this is taking into consideration today could be a bull day, if so the print would create a rising support line, if it fails and breaks below (bull trap) $46 would be the next target, great work, D
Daily made a perfect pinbar first target 53,83
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persistence and determination alone are omnipotent
  • #4,216
  • Oct 4, 2019 8:55am Oct 4, 2019 8:55am
Quoting Ll1979
{quote} Daily made a perfect pinbar first target 53,83 {image}
Said this before somewhere, if it wasn't Friday, would open a long but the usual, weekend in the way, always Sunday night, think I'm going to call it a day, been a long week for me and feeling the pinch of tiredness, will pop in to check the Gold trade, other than that, good chess for today and speak soon, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,217
  • Oct 4, 2019 9:07am Oct 4, 2019 9:07am
Quoting detector
{quote} Said this before somewhere, if it wasn't Friday, would open a long but the usual, weekend in the way, always Sunday night, think I'm going to call it a day, been a long week for me and feeling the pinch of tiredness, will pop in to check the Gold trade, other than that, good chess for today and speak soon, D
Surely the risks are to the upside, meaning you wouldn't want to be short going into the weekend.
  • #4,218
  • Oct 4, 2019 9:16am Oct 4, 2019 9:16am
Quoting verv
{quote} Surely the risks are to the upside, meaning you wouldn't want to be short going into the weekend.
I'm short Gold very, but have oil going up, would take the oil trade but it's Friday, it may take a while to move, that could mean holding over the weekend and situations can change rapidly, very rarely hold a position over the weekend, hope this helps and good trading, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #4,219
  • Oct 4, 2019 9:17am Oct 4, 2019 9:17am
RSI leading the way on h4? time will tell
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persistence and determination alone are omnipotent
  • #4,220
  • Oct 4, 2019 9:20am Oct 4, 2019 9:20am
[quote = detector; 12541029] {quote} Said this before somewhere, if it wasn't Friday, would open a long but the usual, weekend in the way, always Sunday night, think I'm going to call it a day, been a long week for me and feeling the pinch of tiredness, will pop in to check the Gold trade, other than that, good chess for today and speak soon [/ presupuesto]


You remember: Out is out!

Best wishes.
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