WTI Crude Oil Trading

yea, a normal pull back in a otherwise down market. My longer term target is 42

06 February 2020

Will be holding off on adding onto current running shorts till such point that leading line gets back below the entry line.

Point (i) marks hard stop area for current shorts....


Given the Bullish daily bar from the previous day, one cannot rule out the bulls looking to breakout and make a new weekly high considering the fact that we are above the weekly ope, daily open and some pivots.....


Patience and green pips right around

#NGAS / Weekly

Ditto

I think the smaller frames look a wee bit bearish so a dip to test of 51 could be on the cards, more bull over yesterdays high looks likely tho

51 is getting a real prod today, still bullish over this level looking for a close above (again) if we move up res is at 52.40/90 with target 53.70

Still need to clear 51 and it's being a real pain

not a good day to trade. indecision, market just bouncing around

Took long at 50.72

also long but time of day working against the trade. a late session rally or asian/london session may help move it along

the price can't break 50

Guys I must say that right now... I will just stay out of the market for the week (today/tomorrow)... Since I "know" when not to trade... And I prefer to be OUT whenever there is any (reasonable) doubt... And this is EXACTLY that kind of time... I have doubts in this market since my controlling parameter indicated (strong) disconnect... So I will say this:

7 February 2020

Currently have one short position running on this but wont add onto it nor close just yet till there is some more clarity as to what this thing wants to do, all to flat at the moment...

(i): Hard stop handle for shorts.
(ii) flat signal line and entry line
(iii) Signal line crossed above the entry line.


Green Pips

Again price touched 50.52

50.52 still holding

got in 2 longs from below and closed. think i'm done for the day. the short looks tempting but may be a trap

Observing market closely... I will decide by the end of the next week the latst, when/if entering the WTI market before the end of FEB... Have to see how this settles in... The seasonality and this "situation" that we have now indicates (strongly) to be on the SOUTH side but remember, the seasonality is usually at inflection point in (middle) of FEB... so have to be careful since we are entering that next week and then even 1-2weeks after might make time to reverse Also will have more that about the "health" situation

China consumes around 13.4% of world oil. Don't expect prices to go down further
Still Risk off until Chinese market is open.