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WTI Crude Oil Trading

  • #6,861
  • Mar 22, 2020 5:59am Mar 22, 2020 5:59am
#Brent / Weekly
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  • #6,862
  • Mar 22, 2020 6:28am Mar 22, 2020 6:28am
brent oil one year target price is 48:00 usd, what do think?
  • #6,863
  • Mar 23, 2020 12:24pm Mar 23, 2020 12:24pm
this week may be a difficult one for traders. markets still bearish but also at a very low point and at an area bulls will defend. I will only be looking for longs
  • #6,864
  • Mar 24, 2020 1:06am Mar 24, 2020 1:06am
24 March 2020

My bias still remains, we are too low to be shorting however the chart structures at play are suggesting otherwise

Trying to ignore the current lows as to where price is and just look at the current structure.

Levels of interest for today
28.46
25.76
24.56
22.44
19.22

Lets see
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4&1 All Time Profit: $37,496
  • #6,865
  • Mar 24, 2020 2:05am Mar 24, 2020 2:05am
#WTI / Weekly
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  • #6,866
  • Mar 24, 2020 3:36am Mar 24, 2020 3:36am
All the value lines are to the downside. Lots of short macro value...

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Boxing clever since 76.
  • #6,867
  • Mar 24, 2020 6:46am Mar 24, 2020 6:46am
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Boxing clever since 76.
  • #6,868
  • Mar 24, 2020 7:47am Mar 24, 2020 7:47am
Anyone has some serious ideas about OIL? Seems still to be struggling between CORONA and RU-OPEC-Saudi-US standoff... But I think we might see the glimpse of the trend by the end of this week! At least this is what I hope for, otherwise... would prefer to stay to be out of the market, for now... In my book, it is better not to trade than to risk/gamble it when there is almost absolute uncertainty.. So hoping to get more vital data by the end of this week!
Can you afford to take that chance?
  • #6,869
  • Mar 24, 2020 11:00am Mar 24, 2020 11:00am
i'm kinda waiting for the senate to approve that rescue bill. it should give the markets a boost. suspect oil may spike up as well.
  • #6,870
  • Mar 24, 2020 12:10pm Mar 24, 2020 12:10pm
sell Brent Oil 28, tp 15 ( in a month)
  • #6,871
  • Mar 25, 2020 1:49am Mar 25, 2020 1:49am
Quoting forexhack
sell Brent Oil 28, tp 15 ( in a month)
When 1/6 of the world population has to stay at home in India for 3 weeks you don't have to do the math it will crush demand.
persistence and determination alone are omnipotent
  • #6,872
  • Mar 25, 2020 5:04am Mar 25, 2020 5:04am
WTI seems to be swinging, swingers dream... But if you notice, there is a PUSH up, subtle, for now... Do you see it?
Although some updates on the corona coming I believe, so we will see, because markets are about mainly about EXPECTED demand (in the future)... and as soon as the CORONA and "the standoff" situation improve, price gonna SKYROCKET! At least relatively to "cheaper than water" that it is now
Can you afford to take that chance?
  • #6,873
  • Mar 25, 2020 5:53am Mar 25, 2020 5:53am
Again so much value to the downside coming into the open. too easy

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Boxing clever since 76.
  • #6,874
  • Mar 25, 2020 6:47am Mar 25, 2020 6:47am
Quoting auricforecas
WTI seems to be swinging, swingers dream... But if you notice, there is a PUSH up, subtle, for now... Do you see it? Although some updates on the corona coming I believe, so we will see, because markets are about mainly about EXPECTED demand (in the future)... and as soon as the CORONA and "the standoff" situation improve, price gonna SKYROCKET! At least relatively to "cheaper than water" that it is now
Oil is in a two fronted battle against weak demand (corona) and massive supply combined in a pricewar with huge discounts. The weak demand is already happening all over the globe since more and more countries are in lockdown. Vitol sees consumption down by up to 20 million barrels a day.

Massive supply is only at the beginning stage since the OPEC+ agreement is still intact until next week. Beginning of 1 april the quotas are gone and the pumps are doing overtime.

Those two factors combined makes it the perfect storm and that cannot be overlooked imho.
persistence and determination alone are omnipotent
  • #6,875
  • Mar 25, 2020 7:58am Mar 25, 2020 7:58am
Quoting auricforecas
WTI seems to be swinging, swingers dream... But if you notice, there is a PUSH up, subtle, for now... Do you see it? Although some updates on the corona coming I believe, so we will see, because markets are about mainly about EXPECTED demand (in the future)... and as soon as the CORONA and "the standoff" situation improve, price gonna SKYROCKET! At least relatively to "cheaper than water" that it is now
SKYROCKET or FALL
  • #6,876
  • Mar 25, 2020 8:58am Mar 25, 2020 8:58am
Quoting Idunnu
{quote} SKYROCKET or FALL
Normally oil prices goes up in the summer months in Europe and North America because of vacations. This year is not a normal year so I don't expect oil to rise a lot not only because of the C19 virus but also because the demand will remain weak with the actual abundant supply.
  • #6,877
  • Mar 25, 2020 9:20am Mar 25, 2020 9:20am
Quoting Ll1979
{quote} Oil is in a two fronted battle against weak demand (corona) and massive supply combined in a pricewar with huge discounts. The weak demand is already happening all over the globe since more and more countries are in lockdown. Vitol sees consumption down by up to 20 million barrels a day. Massive supply is only at the beginning stage since the OPEC+ agreement is still intact until next week. Beginning of 1 april the quotas are gone and the pumps are doing overtime. Those two factors combined makes it the perfect storm and that cannot be overlooked...
Nice, tnx... My main focus now is about CORONA/STANDOFF so we are basically dealing with pandemic forecast + Russian vs US culture I am still not sure about where CORONA might go but I might have some clue in a week, like 7days from now.. Maybe there are even some clues already, but nothing for certain.. For example Trump says he will just "let it run" after easter, either way... If I understood correctly... But EU is much more strict I believe... About the RU-US standoff, I have little doubt who can "bluff" it longer... So I can say, as a conclusion... until I get at least something to hold on, I am skipping the WTI trading Might trade it only in very small/cheetah windows though

Also, according to my price prediction model of 11+ years, some BIG changes are coming next week... So you might be right about noting the 01APR I believe some systematic changes will happen in markets, so will have to see who can ride or slide it best I plan to (fully) resume WTI trading next week, maybe after 01APR, just be sure and not to start on the fools day 02APR2020 seems like a good (potential) opportunity to enter WTI BUY, but will see/confirm, soon!
Can you afford to take that chance?
  • #6,878
  • Mar 25, 2020 9:55am Mar 25, 2020 9:55am
Quoting Hutch
{quote} Normally oil prices goes up in the summer months in Europe and North America because of vacations. This year is not a normal year so I don't expect oil to rise a lot not only because of the C19 virus but also because the demand will remain weak with the actual abundant supply.
Thank you for your explanation. I really appreciate it.
  • #6,879
  • Mar 25, 2020 11:05am Mar 25, 2020 11:05am
currently at a point of indecision. better to be patient and wait to see where they move it to next
  • #6,880
  • Mar 25, 2020 11:07am Mar 25, 2020 11:07am
WTI is trading in range last couple of days (H4 chart)
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persistence and determination alone are omnipotent
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