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WTI Crude Oil Trading

  • #5,741
  • Jan 8, 2020 9:11am Jan 8, 2020 9:11am
Quoting MzansiObi
{quote} Support broken. now will wait to see if the previous leading line and entry line will dip back below the supportive line to give intra day signals to flip short.... Patient.... {image}
brent bk to 65 +/- levels ... higher chances it will consolidate then start next leg higher .. more like a dollar/macro move .... lets see
  • #5,742
  • Jan 8, 2020 10:17am Jan 8, 2020 10:17am
in the blink of an eye from the verge of war to de-escalation, what a turn around as oil continues its fall from the heavens.
  • #5,743
  • Jan 8, 2020 10:19am Jan 8, 2020 10:19am
that WTI bearish daily candle is going to look very impressive.
  • #5,744
  • Jan 8, 2020 10:19am Jan 8, 2020 10:19am
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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yes yes yes
  • #5,745
  • Jan 8, 2020 11:27am Jan 8, 2020 11:27am
Attached Image (click to enlarge)
Click to Enlarge Name: oil 15.png Size: 23 KB
yes yes yes
  • #5,746
  • Jan 8, 2020 12:06pm Jan 8, 2020 12:06pm
WTI:
Yeah, was expecting a drop but next week, due to seasonality... This Trump/Tweet situation speed things up... I would watch for the 3 components that might appear the way by the end of next week to let's say mid of FEB... So SEASONALITY, TRUMP/TWEETS and "OIL FIELD" situation or MIDDLE EAST... Now that I think of it, only 2 components basically, seasonality (which would suggest drop start to happen by the end of next week that would last for 30days and then UP for a long time...) but this middle east AND also NS2 thing can change everything, so there you have it SEASONALITY+TRUMP=UP/DOWN? I believe picture will be much firmer within a week...
Can you afford to take that chance?
  • #5,747
  • Jan 8, 2020 12:08pm Jan 8, 2020 12:08pm
Quoting Moty
{image}
Moty you might be right, DROP that fast, that big, is hardly to be sustained unless some more PERMANENT lock would be made in any situation which seems to not be the case atm.... since things could/(did in the past, so far) kinda radically from one tweet to the next So yeah, would not be surprised of a rebound at least for this week.. But for the next, I might explore the DROP more... due to seasonality... But TWEETS can change everything of course, but not for that long I believe
Can you afford to take that chance?
  • #5,748
  • Jan 8, 2020 10:37pm Jan 8, 2020 10:37pm
Quoting kuroro001
{quote} As per COT report, it was a big short, same for gold Only buy scalp for oil can be made, but nothing more for now
Hey K
Agreed, now the next point of contention on a daily closing basis becomes to see where/how we close relative to 57.63...

On an hourly basis, will be looking to short this on any rally that we may see during the day....
Attached Image(s) (click to enlarge)
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4&1 All Time Profit: $37,496
  • #5,749
  • Jan 8, 2020 10:51pm Jan 8, 2020 10:51pm
Quoting MzansiObi
{quote} Hey K Agreed, now the next point of contention on a daily closing basis becomes to see where/how we close relative to 57.63... On an hourly basis, will be looking to short this on any rally that we may see during the day.... {image} {image}
am buying back the calendar spreads i sold earlier ref brent spot ~ 65 .. also 200ma on 4h .. dont think it will break so easily ....
  • #5,750
  • Jan 8, 2020 11:04pm Jan 8, 2020 11:04pm
Quoting prashfx
{quote} am buying back the calendar spreads i sold earlier ref brent spot ~ 65 .. also 200ma on 4h .. dont think it will break so easily ....
Lol buy in bulk.....push it up so I can get my shorts filled for the day.....
4&1 All Time Profit: $37,496
  • #5,751
  • Jan 8, 2020 11:07pm Jan 8, 2020 11:07pm
Quoting MzansiObi
{quote} Lol buy in bulk.....push it up so I can get my shorts filled for the day.....
lol haha. lets see bud. very interesting mkts on crude nevertheless. we hv so confident particpants on both sides of the mkt .. that makes it interesting!
  • #5,752
  • Jan 9, 2020 12:33am Jan 9, 2020 12:33am
Attached Image (click to enlarge)
Click to Enlarge Name: oil 15.png Size: 23 KB
yes yes yes
  • #5,753
  • Jan 9, 2020 2:09am Jan 9, 2020 2:09am
Attached Image (click to enlarge)
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persistence and determination alone are omnipotent
  • #5,754
  • Edited 9:57am Jan 9, 2020 5:23am | Edited 9:57am
I do like the price at the moment, but think i might have to pull stop up after support shift
rennstimp
  • #5,755
  • Jan 9, 2020 5:39am Jan 9, 2020 5:39am
Quoting renNstimpy
Anyone have any calls? Been trailing my stop in green for past few weeks now, weird swing yesterday however. Think support is looking fairly strong though.
And 2/X orders filled.

Well then... Looking abit decent for another order though given the price.
rennstimp
  • #5,756
  • Jan 9, 2020 5:49am Jan 9, 2020 5:49am
Tight consolidation since yesterday’s drop. Looks like more buyers lurking below 60. Wouldn’t be surprised with a retest of the low, A rejection and then a push up.
  • #5,757
  • Jan 9, 2020 5:55am Jan 9, 2020 5:55am
Quoting Kwame Freder
Tight consolidation since yesterday’s drop. Looks like more buyers lurking below 60. Wouldn’t be surprised with a retest of the low, A rejection and then a push up.
Yeah could be wrong on this but I do think we'll test the resistance in the next few days. If 63 resistance breaks, well...
rennstimp
  • #5,758
  • Jan 9, 2020 6:13am Jan 9, 2020 6:13am
Attached Image (click to enlarge)
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yes yes yes
  • #5,759
  • Edited 9:45am Jan 9, 2020 6:23am | Edited 9:45am
Quoting Kwame Freder
Don’t short oil in this climate
Anyone following any movement? Odd pre sell off
rennstimp
  • #5,760
  • Jan 9, 2020 6:27am Jan 9, 2020 6:27am
Futures market has some movement

Goodluck everyone
rennstimp
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