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WTI Crude Oil Trading

  • #7,081
  • Apr 9, 2020 11:39am Apr 9, 2020 11:39am
Quoting Ll1979
{quote} They want higher price but not to high I guess they want to stall else they would've started in April. Flooding every storage facility and then cutting turns into "organic cutting" showing their will avoiding tariffs and keeping US military support.
I want steady "growth", as linear as possible, this is how I can make many high leverage BUY trades . I don't get much out of spikes, at current harvest strategy, also "hate" fake/temp rises or pump and dumps
Can you afford to take that chance?
  • #7,082
  • Apr 9, 2020 11:49am Apr 9, 2020 11:49am
also think both Russia and SA want to bring US shale to their knees and to the table so that they can have some control
  • #7,083
  • Apr 9, 2020 12:53pm Apr 9, 2020 12:53pm
Some of the latest headlines:
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persistence and determination alone are omnipotent
  • #7,084
  • Apr 9, 2020 1:02pm Apr 9, 2020 1:02pm
we may get to $20 before the day ends
  • #7,085
  • Apr 9, 2020 1:03pm Apr 9, 2020 1:03pm
are the cuts really so bad? dont understand market reaction? or is everyone just getting out before bank holiday/weekend?
  • #7,086
  • Apr 9, 2020 1:05pm Apr 9, 2020 1:05pm
Quoting tonny47
are the cuts really so bad? dont understand market reaction? or is everyone just getting out before bank holiday/weekend?
They start to late imho. A few sources on twitter mentioned the cuts are valid if the other G20 countries will cut 5 mbpd (don't know for sure)
persistence and determination alone are omnipotent
  • #7,087
  • Apr 9, 2020 1:06pm Apr 9, 2020 1:06pm
4H at support
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persistence and determination alone are omnipotent
  • #7,088
  • Edited 2:14pm Apr 9, 2020 1:43pm | Edited 2:14pm
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persistence and determination alone are omnipotent
  • #7,089
  • Apr 9, 2020 4:24pm Apr 9, 2020 4:24pm
Oil at resistance and a gap to fill. Will oil fill the Gap sooner or later? It's trading at plenty of resistance and price action bearish in the last few days. As traders await supply cut details there's many questions still looming. The fact is there is huge over supply and low demand and those dynamics paint bearish price action on a chart such as gaps down and probable follow thru gaps. With the current meeting going on, this is a known catalyst which will propel oil prices one way or the other. If oil goes higher from here there is still more resistance above where the gap is. However, oil is in a overall down trend and price action will confirm direction and continuation of trend. I think the gap above will probably be filled later rather than sooner.

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  • #7,090
  • Apr 9, 2020 4:25pm Apr 9, 2020 4:25pm
The WTI trading range for the day was from a low of $22.47 to a high of $28.20 a difference of $5.73 or over 25%. I think traders went from an exuberance of a big production cut by OPEC to despair when the agreed production cut is too small to affect the actual glut in oil and increase demand.
WTI finished the day at $23.11 which is $2.95 or 11% below yesterday's close of $26.06
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  • #7,091
  • Apr 9, 2020 6:32pm Apr 9, 2020 6:32pm
Opec and russia deal to cut production..
On monday we will se a big gap up.. i really hope it can close the gap to $41.5 in this month.

Also now the gap between WTI and Brent is more than $8..
it's too big gap, it gap should be arround $2 maximum $4..

So, there are my reason why WTI will go up when the market open..
  • #7,092
  • Edited 9:49pm Apr 9, 2020 8:21pm | Edited 9:49pm
Quoting agazzi86
Opec and russia deal to cut production.. On monday we will se a big gap up.. i really hope it can close the gap to $41.5 in this month. Also now the gap between WTI and Brent is more than $8.. it's too big gap, it gap should be arround $2 maximum $4.. So, there are my reason why WTI will go up when the market open..
Be careful if that cut is less than the drop in demand it could drop like a rock. All depends on what is expected to be “enough of a cut”
  • #7,093
  • Apr 9, 2020 9:38pm Apr 9, 2020 9:38pm
if the cut produced by the opep is insufficient the market will continue to drop, in reality they continue to lose money, less but they continue to lose
  • #7,094
  • Apr 10, 2020 1:16am Apr 10, 2020 1:16am
Good morning @ all,
the spike yesterday nearly killed my sl. Long's survived and now waiting for finish move with opec decision.

Happy holidays...
  • #7,095
  • Apr 10, 2020 3:53am Apr 10, 2020 3:53am
It seems we will have to wait a little longer about the output cut confirmation since Mexico had “delayed the agreement”... I won't gamble on either outcome, it seems will have to wait till next week, at least...
Can you afford to take that chance?
  • #7,096
  • Apr 10, 2020 4:06am Apr 10, 2020 4:06am
Quoting auricforecas
It seems we will have to wait a little longer about the output cut confirmation since Mexico had “delayed the agreement”... I won't gamble on either outcome, it seems will have to wait till next week, at least...
Fucking holiday
rennstimp
  • #7,097
  • Apr 10, 2020 4:17am Apr 10, 2020 4:17am
Quoting renNstimpy
{quote} Fucking holiday
I have my favourite parts of the year when I think are good/best for trading and this is not one of them But it is funny, we waited for RU and Saudi to stop the trade war but now Mexico sets the stage...

Sources:

  1. https://www.energyexch.com/news/9920...il-pact-hinges
  2. https://edition.cnn.com/2020/04/09/b...eal/index.html

Can you afford to take that chance?
  • #7,098
  • Apr 10, 2020 4:22am Apr 10, 2020 4:22am
mexico still wants only 100
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Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #7,099
  • Apr 10, 2020 4:24am Apr 10, 2020 4:24am
Quoting DMA Trader
mexico still wants only 100 {image}
would tip if i could
rennstimp
  • #7,100
  • Apr 10, 2020 4:35am Apr 10, 2020 4:35am
Quoting renNstimpy
{quote} would tip if i could
Mexico is hedged this year at $49 a barrel for the Mexican oil export blend (which traded today at $17,89 a barrel). No other OPEC+ country has such a big oil hedge.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
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