WTI Crude Oil Trading

A huge gap down is coming. Anyone who is still in short is about to get paid $$$

Goldman Sachs

Goldman dramatically cuts Brent forecast in Q2/3 to $30 “In fact, the prognosis for the oil market is even more dire than in November 2014, when such a price war last started, as it comes to a head with the significant collapse in oil demand due to the coronavirus.”

“This completely changes the outlook for the oil and gas markets, in our view, and brings back the playbook of the New Oil Order, with low cost producers increasing supply from their spare capacity to force higher cost producers to reduce output.”

“As such, we base case for now that no such deal occurs, with any response only likely at sharply lower prices anyways.”

Spot on My jaw dropped man! I wouldn't have imagine this a while back... Specially vs what they were predicting... Will wait for this to settle and then jump on the BUY As soon it gets hammered "to the end"... and stabilise... Would then be BUYing...

So, I closed my 0.2 lot sell on WTIUSD on Friday before market close.......Yeah, I'm beating myself up for that one rn

I still closed with about 20% profit on that trade, but If I would have held till today I'd be up around 1000%.......
I totally called this move but just didnt have the guts to hold over the weekend.

Good job to those of you that did though! lol....

Oil is down 25.7% today as I type this post. I could easily see WTI going to around $20. The US government will need to provide shale subsidies or a bailout otherwise that industry is going to see a lot of bankruptcies in the near future.

Approaching 1.61% extension of 2018 lows to 2019 highs. I think this should be the bottom of this downfall already.

Triple levered crude ETFs are likely to terminate tomorrow. They might be looking at a total loss or even negative NAV. Even if there’s something left the ETFs will probably terminate anyway if they drop >80% in a single day.

09 March 2020


Support aggressively broken..
$20 oil is the only reason I will look at taking possible counter trend buy dips on this.
will be interested to see the range in which it trades today and how it closes.
have gone long at the first site of the first bullish H1 candle.


Green Pips

Who would have thought $30

Think I'll take a break till all this settles

I am watching SCO, will look for put spreads out into summer. Also might scoop some PBR if it falls <$7...

Crude oil down too strong. I think they scanned all the stop losses. I'm also suffering from crude oil. I wonder if the price will go down or not? gold is going crazy

Is it a good idea to start accumulating oil?

some of the producers can't afford this prices. so they will not produce just to lose money so output will be less.

1 probability

My advice would be to reduce trading size with this much volatility. We could get some big swings today

Agreed, not touching the market for the risk of being trapped... Plan to jump on the BUY side as soon as the situation will appear to stabilise a little and that the UP-trend begins... But this RU's statement where they basically say "come at me bro (25USD)" does not give me the confidence to jump on the BUY side just yet.

bulls have been making some good gains since the lows. would be amazing if this thing was back over $40 by the end of the week

i've been buying at 1/8 my normal trade size. makes the erratic price swings alot more manageable

Just a thought. Oil is a great buy u see the $30 mark. However as it is counter trend, best thing to do becomes to trail and reduce risk as and when trade moves into the green...this allows us to enjoy the ride if it rallies back up or take minor profits if trailing stops get taken out....

I opened a "Sell Stop" trade on 6th March, 2020 on MT5 account (Price: 40.75, Stop Loss: 41.00, Take Profit: 40.25). Despite market opened at 32.43 on 9th March, 2020, my trading account shows a loss.
I want to know what should be the outcome (profit) on this trade? Is it a profit from 40.75 to 32.43 or how is it calculated?.

Sorry if it is off topic.