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WTI Crude Oil Trading

  • #5,441
  • Dec 7, 2019 4:50am Dec 7, 2019 4:50am
Quoting Ef5
{quote} It seems like this should be pretty bullish for oil: {image}
Generally speaking yes ..... but

The weird thing is the US field production hasn't declined (it's near all time high 12,9 M barrels a day) while the rig count has declined over 200 rigs since the beginning of this year.

My humble guess is that the technology has improved making more barrels per rig.

more info:
https://www.energyexch.com/showthrea...1#post12637481
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persistence and determination alone are omnipotent
  • #5,442
  • Dec 7, 2019 5:03am Dec 7, 2019 5:03am
bear's trap
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yes yes yes
  • #5,443
  • Dec 7, 2019 6:18am Dec 7, 2019 6:18am
Inserted Video
persistence and determination alone are omnipotent
  • #5,444
  • Dec 7, 2019 9:11am Dec 7, 2019 9:11am
Well I Think Oil Is Going To Rise Further
  • #5,445
  • Dec 7, 2019 9:12pm Dec 7, 2019 9:12pm
My techs say down! Let see what is better my techs or fundamentals
Don't believe me just watch!
  • #5,446
  • Edited 11:39am Dec 8, 2019 2:09am | Edited 11:39am
Quoting LCForex
My techs say down! Let see what is better my techs or fundamentals
I agree but when Saudi Arabia is flexing it's muscles (OPEC + saudi aramco ipo) i'll avoid this market.
persistence and determination alone are omnipotent
  • #5,447
  • Dec 8, 2019 5:02am Dec 8, 2019 5:02am
Quoting Ll1979
{quote} I agree but when Saudi Arania is flexing it's muscles (OPEC + saudi aramco ipo) i'll avoid this market.
This link says why the oil didn't spike on Friday OPEC meeting :
https://twitter.com/drjalalian/statu...293912065?s=08
Rider of BIIIIG Moves!
  • #5,448
  • Dec 8, 2019 6:18am Dec 8, 2019 6:18am
Quoting LCForex
My techs say down! Let see what is better my techs or fundamentals
your techs ! )))

Best
D.P.
Hunting High and Low
  • #5,449
  • Dec 8, 2019 8:36am Dec 8, 2019 8:36am
WTI H4 Jan contract end of week

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WTI daily

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  • #5,450
  • Dec 8, 2019 8:39am Dec 8, 2019 8:39am
Quoting Ll1979
{quote} I agree but when Saudi Arania is flexing it's muscles (OPEC + saudi aramco ipo) i'll avoid this market.
Same here. Trying to trade chaotic behavior is too risky for me.
  • #5,451
  • Dec 8, 2019 12:31pm Dec 8, 2019 12:31pm
Can We See $63 this week?
  • #5,452
  • Dec 8, 2019 1:19pm Dec 8, 2019 1:19pm
whats about crude oil next week ??
  • #5,453
  • Dec 8, 2019 1:52pm Dec 8, 2019 1:52pm
How will the Pensacola naval base shooting event change the market?
  • #5,454
  • Dec 8, 2019 4:41pm Dec 8, 2019 4:41pm
Quoting luckyvictor
How will the Pensacola naval base shooting event change the market?
Likely little to nothing. Remember, these are our 'friends' from Saudi Arabia.
  • #5,455
  • Dec 9, 2019 4:54am Dec 9, 2019 4:54am
Quoting timingchain
{quote} Likely little to nothing. Remember, these are our 'friends' from Saudi Arabia.
Yes, very true. Trump still respects this relationship lol
  • #5,456
  • Dec 9, 2019 5:21am Dec 9, 2019 5:21am
I think most people have forgotten about, or never knew about, the oil shocks in the 1970s, with S.A. a major participant:

The 1973 oil crisis began in October 1973 when the members of the Organization of Arab Petroleum Exporting Countries proclaimed an oil embargo. The embargo was targeted at nations perceived as supporting Israel during the Yom Kippur War.[1] The initial nations targeted were Canada, Japan, the Netherlands, the United Kingdom and the United States with the embargo also later extended to Portugal, Rhodesia and South Africa. By the end of the embargo in March 1974,[2] the price of oil had risen nearly 400%, from US$3 per barrel to nearly $12 globally; US prices were significantly higher. The embargo caused an oil crisis, or "shock", with many short- and long-term effects on global politics and the global economy.[3] It was later called the "first oil shock", followed by the 1979 oil crisis, termed the "second oil shock". ~Wiki
  • #5,457
  • Dec 9, 2019 5:47am Dec 9, 2019 5:47am
#Oil bulls are uncertain to move in 2020 unless something happen, and that could be #US_China #tradedeal
Read more here:
https://twitter.com/drjalalian/statu...614629889?s=08
Rider of BIIIIG Moves!
  • #5,458
  • Dec 9, 2019 5:50am Dec 9, 2019 5:50am
Quoting UniqueIdea
whats about crude oil next week ??
Wait for news on lifting tariffs between China and USA.
Read more here :
https://twitter.com/drjalalian/statu...614629889?s=08
Rider of BIIIIG Moves!
  • #5,459
  • Dec 9, 2019 5:53am Dec 9, 2019 5:53am
Quoting rashidcm2004
Can We See $63 this week?
Yes, if Trump tweets bring real hopes on trade deal with China , otherwise, the price is ranging narrowly
Rider of BIIIIG Moves!
  • #5,460
  • Dec 9, 2019 12:58pm Dec 9, 2019 12:58pm
Anyone in the SHORT right now? Seems a good SHORT position atm
Can you afford to take that chance?
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