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WTI Crude Oil Trading

  • #6,961
  • Apr 3, 2020 3:02am Apr 3, 2020 3:02am
Have the bulls got the legs ?
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All charts/ideas based on UK time zone
  • #6,962
  • Apr 3, 2020 3:25am Apr 3, 2020 3:25am
Quoting sponge
50 pips before breakfast ha, I think 26.03 is the key level atm {image}
Nice trading Sponge!
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persistence and determination alone are omnipotent
  • #6,963
  • Edited 5:06am Apr 3, 2020 4:53am | Edited 5:06am
I have taken 129 points in WTI this morning, what a difference when it moves !

27.60 could be next test area imo

I'm all out now may trade this after if the wife lets me

Are the markets getting used to corona or are they just cheap ?
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All charts/ideas based on UK time zone
  • #6,964
  • Apr 3, 2020 5:05am Apr 3, 2020 5:05am
Can anyone make sense of this movement?
It' can't keep going up forever but it sure does seem that xD....
  • #6,965
  • Apr 3, 2020 5:14am Apr 3, 2020 5:14am
Quoting AmmaBoss
Can anyone make sense of this movement? It' can't keep going up forever but it sure does seem that xD....
Every time I try to make sense of it I lose money so I just stick to the charts
All charts/ideas based on UK time zone
  • #6,966
  • Apr 3, 2020 5:20am Apr 3, 2020 5:20am
Quoting sponge
I have taken 129 points in WTI this morning, what a difference when it moves ! 27.60 could be next test area imo I'm all out now may trade this after if the wife lets me Are the markets getting used to corona or are they just cheap ? {image}
Out of my trading account and into yours
  • #6,967
  • Apr 3, 2020 5:46am Apr 3, 2020 5:46am
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persistence and determination alone are omnipotent
  • #6,968
  • Apr 3, 2020 6:53am Apr 3, 2020 6:53am
Quoting Ll1979
https://www.youtube.com/watch?v=whX01qnoZkI
he said there is no demand and storage space is running out so why wouldn’t a big cut be possible??
I think we are at that point already.These are desperate times for the oil industry not sure I agree that a big cut is not possible
  • #6,969
  • Apr 3, 2020 7:59am Apr 3, 2020 7:59am
Quoting Kwame Freder
{quote} he said there is no demand and storage space is running out so why wouldn’t a big cut be possible?? I think we are at that point already.These are desperate times for the oil industry not sure I agree that a big cut is not possible
I guess he ment to say (based on the capacity of Saudi and Russia alone (both around 10mbps each)) they wont cut that much. Other countries need to contribute as well. Saudi and Russia wont cut 50% to make up a 10 mbps global cut. The US needs to cut as well if they wanna get Russia to get involved.
persistence and determination alone are omnipotent
  • #6,970
  • Apr 3, 2020 8:04am Apr 3, 2020 8:04am
Quoting Ll1979
{quote} I guess he ment to say (based on the capacity of Saudi and Russia alone (both around 10mbps each)) they wont cut that much. Other countries need to contribute as well. Saudi and Russia wont cut 50% to make up a 10 mbps global cut. The US needs to cut as well if they wanna get Russia to get involved.
i think there would easily be consensus in the US shale industry to do whatever it takes to fix this situation. They are hurting badly
  • #6,971
  • Apr 3, 2020 8:15am Apr 3, 2020 8:15am
Volatile day. One mistake and you could be in the hole several hundred points especially with the weekend upon us.
  • #6,972
  • Apr 3, 2020 8:34am Apr 3, 2020 8:34am
#WTI / H4
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  • #6,973
  • Apr 3, 2020 8:34am Apr 3, 2020 8:34am
WTI bulls hit target

S&P 2525 for some upside, bearish below

Anyone think the Gov's have over reacted to corona ?
All charts/ideas based on UK time zone
  • #6,974
  • Apr 3, 2020 9:15am Apr 3, 2020 9:15am
Quoting sponge
Anyone think the Gov's have over reacted to corona ?
moi
  • #6,975
  • Apr 3, 2020 12:52pm Apr 3, 2020 12:52pm
https://www.zerohedge.com/energy/put...-us-needs-join

this was always the end game, to get US oil producers to fall in line. i'm sure any deal reached would have a cap on US shale production and market share going forward. i would not hold any oil short positions over the next 2 weekends.
  • #6,976
  • Apr 3, 2020 2:16pm Apr 3, 2020 2:16pm
and just like that we are near $30. Putin may soon get his wish ($42)
  • #6,977
  • Apr 3, 2020 2:38pm Apr 3, 2020 2:38pm
Good evening,
nice run today

Hopefully the train will stop and rest a little bit to add long positions. Hmm, around 23,8 would be nice.

Good weekend @ all
  • #6,978
  • Apr 3, 2020 4:17pm Apr 3, 2020 4:17pm
Quoting Kwame Freder
https://www.zerohedge.com/energy/putin-responds-trump-oil-gambit-10mm-production-cut-possible-us-needs-join this was always the end game, to get US oil producers to fall in line. i'm sure any deal reached would have a cap on US shale production and market share going forward. i would not hold any oil short positions...
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Quoting Kwame Freder
and just like that we are near $30. Putin may soon get his wish ($42)
Actually because I mostly trade on D1 charts I keep positions opened for a long time sometimes but only for currency pairs. Because of the geopolitical situation I always close my CFD trades at the end of each day even if there is a very good possibility that the trend would continue.

I don't think that Putin wishes that oil will go only to $42 but I'm sure that all shale oil drillers would start to be a bit happy if it did reach $42 soon although that price is not high enough for most of them to make a profit but at least it would be a start
  • #6,979
  • Apr 3, 2020 4:23pm Apr 3, 2020 4:23pm
WTI went up 17% yesterday but intra-day trading was quite difficult because the price went all over the place too quickly. Today WTI went up $4.01 or 14% but in a much more orderly manner so trading was quite easier. I hope this will continue next week. Have a nice weekend everyone
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  • #6,980
  • Apr 4, 2020 12:52am Apr 4, 2020 12:52am
Crude oil prices have risen. Is this the supply already showing signs of decreasing? and the reason for the increase in crude oil swap is too strong
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