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WTI Crude Oil Trading

  • #6,581
  • Mar 6, 2020 10:10am Mar 6, 2020 10:10am
staying out until the dust settles. tempted to get in but don't want to give up anything at the end of the week.
  • #6,582
  • Mar 6, 2020 10:14am Mar 6, 2020 10:14am
Liquidity acts like a magnet for price. They had placed some at 43 which was not pulled and they got filled on it and they started to place liquidity below to attract price down once they got filled . see each time price approaches it they pull it and place it lower attracting price lower and lower. They dont want to get filled as value has come off again

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Boxing clever since 76.
  • #6,583
  • Mar 6, 2020 10:17am Mar 6, 2020 10:17am
Quoting copi88
{quote} 1st chart is stats arb chart showing the price of Oil vs other highly correlated markets. When they deviate the CL is either underpriced or overpriced vs the broader market. The institutions will then either buy or sell oil (depending on if its trading at a premium or discount) and do the opposite trade on one of the other correlated markets thereby creating a hedge. They could also do outright trade on oil and hedge themselves in the options market. The second chart is a chart showing level two data and I am able to see where they are putting...
Sounds like a great system, I could never make much of the COT stuff

Look forward to your posts
All charts/ideas based on UK time zone
  • #6,584
  • Mar 6, 2020 10:46am Mar 6, 2020 10:46am
Have we finally hit bottom ?
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All charts/ideas based on UK time zone
  • #6,585
  • Mar 6, 2020 10:46am Mar 6, 2020 10:46am
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persistence and determination alone are omnipotent
  • #6,586
  • Mar 6, 2020 12:14pm Mar 6, 2020 12:14pm
Quoting sponge
Have we finally hit bottom ? {image}
with the move that Russia pulled on opec. i doubt this is the bottom
  • #6,587
  • Mar 6, 2020 12:38pm Mar 6, 2020 12:38pm
Quoting Kwame Freder
{quote} with the move that Russia pulled on opec. i doubt this is the bottom
From a chart point of view I think support is already in at 41.88, this would confirm at 43.63 which I think is the BIG ONE.

I think below 42.15 would put put pressure on the bulls so 42.15/41.88 critical.
All charts/ideas based on UK time zone
  • #6,588
  • Mar 7, 2020 2:44am Mar 7, 2020 2:44am
Global demand keep slowing down while the US keep flooding the gates to pay their massive debts.
Numbers are in million barrels per day

source: https://www.eia.gov/dnav/pet/hist/Le...s=WCRFPUS2&f=W
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persistence and determination alone are omnipotent
  • #6,589
  • Mar 7, 2020 6:49pm Mar 7, 2020 6:49pm
Black swan event in oil this weekend as the Saudis are increasing output in a price war against Russia!

https://www.energyexch.com/news/9850...inning-all-out

I hope nobody went into the weekend long.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #6,590
  • Mar 8, 2020 1:44am Mar 8, 2020 1:44am
Saudi Aramco drops below its IPO price of 32 riyals, down more than 6% in early trading in Riyadh
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Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #6,591
  • Mar 8, 2020 3:34am Mar 8, 2020 3:34am
Aramco has made the largest month-on-month cut for Arab Light in at least 20 years: a hefty $8 to -$10.25 a barrel
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Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #6,592
  • Mar 8, 2020 4:33am Mar 8, 2020 4:33am
Kuwait suspends trading index drops 10%
@Blomberg
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Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #6,593
  • Edited 4:55am Mar 8, 2020 4:35am | Edited 4:55am
Quoting EF5
Black swan event in oil this weekend as the Saudis are increasing output in a price war against Russia! https://www.energyexch.com/news/9850...inning-all-out I hope nobody went into the weekend long.
The current OPEC+ deal will still be respected until the end of march. Shale companies will see this news as a red flag and start boosting their production in an attempt to survive bring price.

For investors this brings some interesting investment opportunities into play

more info:
https://www.bloomberg.com/news/artic...premium-europe
https://www.zerohedge.com/commoditie...ing-oil-prices
persistence and determination alone are omnipotent
  • #6,594
  • Mar 8, 2020 10:31am Mar 8, 2020 10:31am
Quoting Kwame Freder
{quote} I disagree. It has moved almost 500 points from the low at 43 encountered resistance at 48 but has struggled to go much lower, which would indicate its more likely to break that resistance and continue going higher. Time will tell
Time told

The price will continue to go lower until Wednesday ahead of crude oil inventories release.
  • #6,595
  • Mar 8, 2020 11:00am Mar 8, 2020 11:00am
Quoting BuddybBaster
{quote} Time told The price will continue to go lower until Wednesday ahead of crude oil inventories release.
yes it sure did. That’s why I never marry any position. I took a bunch of short positions, came out a bit early but still racked up a lot
  • #6,596
  • Mar 8, 2020 12:20pm Mar 8, 2020 12:20pm
nothing is new under the Sun
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Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #6,597
  • Mar 8, 2020 12:38pm Mar 8, 2020 12:38pm
Commodities trader mark fisher tells cnbc that wti is said to open $9 lower below friday close at $32 bbl
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #6,598
  • Mar 8, 2020 2:27pm Mar 8, 2020 2:27pm
I think I'll just post as I do and give my thoughts from the charts, much advice coming mainly from news interpretation but I am ignoring this for now and will take another look at the charts tomor

Initial thoughts ...possible limited downside, if we move above 41.85 I think this could bring 43.63 back into play, bullish above this level.

I'm not in the market atm but nothing would surprise
All charts/ideas based on UK time zone
  • #6,599
  • Mar 8, 2020 3:44pm Mar 8, 2020 3:44pm
Quoting sponge
I think I'll just post as I do and give my thoughts from the charts, much advice coming mainly from news interpretation but I am ignoring this for now and will take another look at the charts tomor Initial thoughts ...possible limited downside, if we move above 41.85 I think this could bring 43.63 back into play, bullish above this level. I'm not in the market atm but nothing would surprise
WTI will open a massive $10 down in a few hours...
practising coitus interruptus
  • #6,600
  • Mar 8, 2020 3:48pm Mar 8, 2020 3:48pm
Can someone actually remind me what happened to oil back in 2016 March, when the price was around 35?
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