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WTI Crude Oil Trading

  • #4,841
  • Nov 4, 2019 12:54pm Nov 4, 2019 12:54pm
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yes yes yes
  • #4,842
  • Nov 4, 2019 1:10pm Nov 4, 2019 1:10pm
The $57 handle didn't hold. It looks like it's the new resistance. Downside risk in WTI IMO.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #4,843
  • Nov 4, 2019 3:21pm Nov 4, 2019 3:21pm
Quoting Moty
{image}
My charts: "You should sell."
Moty: (draws arrows pointing down)
...
I'm short.
  • #4,844
  • Nov 4, 2019 4:51pm Nov 4, 2019 4:51pm
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  • #4,845
  • Nov 4, 2019 8:49pm Nov 4, 2019 8:49pm
Quoting vpn
{quote} My charts: "You should sell." Moty: (draws arrows pointing down) ... I'm short.
WTI is looking heavy. I'm short as well! GL!
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  • #4,846
  • Nov 4, 2019 11:11pm Nov 4, 2019 11:11pm
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yes yes yes
  • #4,847
  • Nov 5, 2019 12:36am Nov 5, 2019 12:36am
H4 structure still bullish imho (higher lows,higher highs).
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persistence and determination alone are omnipotent
  • #4,848
  • Nov 5, 2019 4:32am Nov 5, 2019 4:32am
Quoting Ll1979
H4 structure still bullish imho (higher lows,higher highs). {image}
With equities in a strong bull run, oil is likely to continue bullish.
  • #4,849
  • Nov 5, 2019 5:06am Nov 5, 2019 5:06am
OPEC's Barkindo: Optimistic oil market is on course to gain stability
5 November 2019, 12:59

OPEC Secretary-General Mohammad Barkindo crossed the wires in the last minutes saying that they are optimistic the oil market is on course to gain stability, per Reuters.
"Countries are ramping up compliance with the global oil deal," Barkindo added. "The numbers we are seeing now suggest 2020 may have upside potential."
Crude oil prices seem to be edging higher on these comments. As of writing, the barrel of West Texas Intermediate (WTI) was up 1% on the day at $57.05.
persistence and determination alone are omnipotent
  • #4,850
  • Nov 5, 2019 6:41am Nov 5, 2019 6:41am
Quoting Ll1979
H4 structure still bullish imho (higher lows,higher highs). {image}
Im also Net Long on crude but the H1 busy crafting out another pattern that i may use to get more long orders going bud....
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4&1 All Time Profit: $37,496
  • #4,851
  • Nov 5, 2019 7:26am Nov 5, 2019 7:26am
Some bearish signs on the Dow/S&P atm , I think sub 27508 could kick off some downside

WTI weak below 56.92
All charts/ideas based on UK time zone
  • #4,852
  • Nov 5, 2019 7:41am Nov 5, 2019 7:41am
Quoting sponge
Some bearish signs on the Dow/S&P atm , I think sub 27508 could kick off some downside WTI weak below 56.92
Do u think it would be a minor pull back if it is below 27500
  • #4,853
  • Nov 5, 2019 7:56am Nov 5, 2019 7:56am
Quoting luckyvictor
{quote} Do u think it would be a minor pull back if it is below 27500
I couldn't say, but some volume areas on the way down 479,381,183

I don't trade indices I'm thinking if the Dow is weak it could rub off on WTI
All charts/ideas based on UK time zone
  • #4,854
  • Nov 5, 2019 8:00am Nov 5, 2019 8:00am
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yes yes yes
  • #4,855
  • Nov 5, 2019 8:17am Nov 5, 2019 8:17am
Quoting luckyvictor
{quote} Do u think it would be a minor pull back if it is below 27500
Just a thought......if the right hand shoulder on the H1 holds and retains its shape then a breakout lower has targets near 55.1
4&1 All Time Profit: $37,496
  • #4,856
  • Nov 5, 2019 9:08am Nov 5, 2019 9:08am
This whole area provides some nice resistance too... WTI likes to hang out below it most of the time.
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  • #4,857
  • Nov 5, 2019 9:26am Nov 5, 2019 9:26am
Quoting vpn
This whole area provides some nice resistance too... WTI likes to hang out below it most of the time.{image}
What time frame is this that youre looking at bud?
4&1 All Time Profit: $37,496
  • #4,858
  • Nov 5, 2019 9:28am Nov 5, 2019 9:28am
OPEC just lower the forecast of the the global demand.
  • #4,859
  • Nov 5, 2019 9:46am Nov 5, 2019 9:46am
Quoting MzansiObi
{quote} What time frame is this that youre looking at bud?
Oops, that's WTI on the Daily.
  • #4,860
  • Nov 5, 2019 11:50am Nov 5, 2019 11:50am
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