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WTI Crude Oil Trading

  • #5,821
  • Jan 13, 2020 2:27pm Jan 13, 2020 2:27pm
Quoting mga35
I am expecting the oil to rise for this week because of: •Trade deal optimism between china and US, and phase one to be signed soon. •Tension escalation between US and Iran seems to be not over. •U.S shale production seems to be slowing down. •COT data for the last week is still on the long side. To watch out for the upcoming economic data this week.
Trade deal optisim shall bring prices down no ?
Tension is hard to play, but equities is not seeing any tension so far.
US shale production i may agree
COT data ? which one you look at to say they are long? which category you look at ?

Thanks
COT: The precious data ignored
  • #5,822
  • Jan 13, 2020 2:37pm Jan 13, 2020 2:37pm
Opened again, certainly for the short term 57.50 with a view to falling further, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,823
  • Jan 13, 2020 2:44pm Jan 13, 2020 2:44pm
it wants to go down but keeps bouncing off support. probably get that drop in asian or London session
  • #5,824
  • Jan 13, 2020 2:48pm Jan 13, 2020 2:48pm
Quoting Kwame Freder
it wants to go down but keeps bouncing off support. probably get that drop in asian or London session
Hoping sooner, breaching 58 hopefully 57.50 off the bat
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,825
  • Jan 13, 2020 3:51pm Jan 13, 2020 3:51pm
Quoting detector
{quote} Hoping sooner, breaching 58 hopefully 57.50 off the bat
Not going to see it before the break, if it ever happens
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,826
  • Jan 13, 2020 5:01pm Jan 13, 2020 5:01pm
Back in with the sell, closed before the break, 57.50 target
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,827
  • Jan 13, 2020 11:22pm Jan 13, 2020 11:22pm
14 January 2019

We at a key inflection point on the daily....since the break down lower, have been looking and waiting for a relief rally to get in short on the H1 to challenge this level that we see on the daily chart, break and close below it gives bears even more control in the medium term....associated charts attached...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: XTIUSDDaily_LI.jpg Size: 679 KB
Click to Enlarge Name: XTIUSDH1_LI.jpg Size: 630 KB
4&1 All Time Profit: $37,496
  • #5,828
  • Jan 14, 2020 12:17am Jan 14, 2020 12:17am
Inserted Video
persistence and determination alone are omnipotent
  • #5,829
  • Jan 14, 2020 12:31am Jan 14, 2020 12:31am
In my opinion it should rebounce today and till the end of this week reach 59.5+ otherwise it will drop till 55 in few days Whatever it will be we will see till the end of today.
  • #5,830
  • Jan 14, 2020 2:47am Jan 14, 2020 2:47am
Quoting detector
Back in with the sell, closed before the break, 57.50 target
broke 58 and dropping.. looking for support/breakthrough of 57.67ish
  • #5,831
  • Jan 14, 2020 2:54am Jan 14, 2020 2:54am
Quoting DnD
In my opinion it should rebounce today and till the end of this week reach 59.5+ otherwise it will drop till 55 in few days Whatever it will be we will see till the end of today.
Time will tell

Looking at the daily we have some support from trendline and ma200 (red) (still need candle confirmation on close)
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 20 KB
persistence and determination alone are omnipotent
  • #5,832
  • Jan 14, 2020 4:25am Jan 14, 2020 4:25am
WTI bounces-off six-week lows at $57.75 ahead of API data
14 January 2020, 11:55

 

  1. WTI stalls declines amid expectations of US Crude Stocks draw.
  2. Receding Mid East tensions, USD strength to cap the bounce.
  3. Markets look forward to US API data and trade deal signing.

WTI (oil futures on NYMEX) is trying hard to extend the recovery from six-week lows of $57.75 reached over the last hour, having regained the 58 handle, at the time of writing.
The black gold extended its week-long losing streak on Tuesday, mainly fuelled by receding US-Mid East tensions after both the US and Iran decided to stand down on the military responses after this month’s missiles attacks.
Meanwhile, the markets appear to have turned risk-averse ahead of the much-awaited US-China phase one trade deal signing scheduled on Wednesday. Therefore, the higher-yielding oil witnessed a fresh round of selling in tandem with other risk assets such as Treasury yields, European equities etc.
However, the bulls have managed to find some support from increasing expectations that the US weekly crude oil inventories are likely to have dropped last week, according to the latest Reuters poll.
Further, strengthening Chinese crude oil demand, as suggested by the latest fuel oil imports data from China, also helps limit the falls in the commodity. China’s crude oil imports in 2019 surged 9.5% from a year earlier, setting a record for a 17th straight year, as cited by Reuters.
Markets now eagerly await the American Petroleum Institute (API) weekly US Crude Stocks data due on the cards later in the NA session at 2130 GMT for near-term trading opportunities.

persistence and determination alone are omnipotent
  • #5,833
  • Jan 14, 2020 4:38am Jan 14, 2020 4:38am
Quoting DnD
In my opinion it should rebounce today and till the end of this week reach 59.5+ otherwise it will drop till 55 in few days Whatever it will be we will see till the end of today.
may be on to something, plus there is strong D1 support there.
We got a bullish H4 cancle close then a bullish in, so may be some relief rally on the cards, but im more keen to look for a bearish signal around the 58.73 handle
Lets see
Attached Image (click to enlarge)
Click to Enlarge Name: XTIUSDH4_LI.jpg Size: 618 KB
4&1 All Time Profit: $37,496
  • #5,834
  • Jan 14, 2020 4:42am Jan 14, 2020 4:42am
Quoting GPBurdell
{quote} broke 58 and dropping.. looking for support/breakthrough of 57.67ish
Gp thought it would drop through but bounced and closed me out, still think it will hit the wall and drop, looking to get back in, mobile ATM so not near my system so will be a guesstimate,D
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,835
  • Jan 14, 2020 6:59am Jan 14, 2020 6:59am
Back in short now 58.40
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,836
  • Jan 14, 2020 7:37am Jan 14, 2020 7:37am
In again
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,837
  • Jan 14, 2020 7:40am Jan 14, 2020 7:40am
CPI data is good for energy sector: "https://www.bls.gov/news.release/arc...i_01142020.htm"
  • #5,838
  • Jan 14, 2020 7:55am Jan 14, 2020 7:55am
Quoting MzansiObi
14 January 2019 We at a key inflection point on the daily....since the break down lower, have been looking and waiting for a relief rally to get in short on the H1 to challenge this level that we see on the daily chart, break and close below it gives bears even more control in the medium term....associated charts attached... {image} {image}
Im right in there with you DT

Blue Outlines signal an invalidation of our outlook
Attached Image (click to enlarge)
Click to Enlarge Name: XTIUSDH1_LI.jpg Size: 701 KB
4&1 All Time Profit: $37,496
  • #5,839
  • Jan 14, 2020 8:04am Jan 14, 2020 8:04am
Quoting detector
Back in short now 58.40
i wouldn't if I were you .
  • #5,840
  • Jan 14, 2020 8:06am Jan 14, 2020 8:06am
hello every one
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