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WTI Crude Oil Trading

  • #7,381
  • Apr 18, 2020 3:33am Apr 18, 2020 3:33am
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yes yes yes
  • #7,382
  • Apr 18, 2020 3:56am Apr 18, 2020 3:56am
Quoting Ll1979
{quote} Beside some additional cost ... It shouldn't be but certainly wouldn't bed on it. example below (described vaguely imho) source: http://www.forexcfds.com.au/doc/Fore...tAgreement.pdf 13.2ROLLOVER OF FUTURESBASED CFDSA rollover will arise inFuturesBased CFDs, such asCommodity CFDs and Index Futures CFDs,when the underlying front month futures contract is approaching the Expiry Date and we change our CFD pricing feed from the front month to the Next Serial Futures Contract.When the new price feed takes affect you...
thanks!
  • #7,383
  • Edited 4:16am Apr 18, 2020 3:57am | Edited 4:16am
Quoting Moty
{image}{image} {image}
are those 2002 prices inflation adjusted?

edit: got it, they are not
  • #7,384
  • Apr 18, 2020 4:03am Apr 18, 2020 4:03am
Quoting Ll1979
{quote} That's the million dollar question what everybody is trying to find out. There are different blends of oil suitable for many applications each having their own quality and price of course. More info https://en.wikipedia.org/wiki/List_o...e_oil_products
thank you for your help again!

still so much to learn about oil. the biggest shock to me is how large the price between current and front month can be. Didn't realise that I couldnt just check historical XTI USD chart and assume that if the price is shown movement from say 20 to 30 over different months, it doesnt mean that I would have made 50% return (assuming no leverage)! Bummer
  • #7,385
  • Apr 18, 2020 4:06am Apr 18, 2020 4:06am
https://www.forexlive.com/news/!/bak...prior-20200417

still probably not enough to offset the lack of demand but if you take into account other countries such as Canada and many other smaller producers in other countries, the production has probably decreased quite a bit.

"Rigs are in freefall. People are talking about a drop to 11 million US barrels per day from almost 13 mbpd. It could be much deeper.

Weekly oil rig changes in key shale basins:

  1. Permian -33 to 283
  2. Eagle Ford -9 to 40
  3. Williston -7 to 34
  4. DJ Niobrara unchanged at 16
  5. Cana Woodford -2 to 7"

  • #7,386
  • Apr 18, 2020 5:23am Apr 18, 2020 5:23am
Quoting tonny47
https://www.forexlive.com/news/!/bak...prior-20200417 still probably not enough to offset the lack of demand but if you take into account other countries such as Canada and many other smaller producers in other countries, the production has probably decreased quite a bit. "Rigs are in freefall. People are talking about a drop to 11 million US barrels per day from almost 13 mbpd. It could be much deeper. Weekly oil rig changes in key shale basins: Permian -33 to 283 Eagle Ford -9 to 40 Williston -7 to...
It's delayed info but to track us field oil production you can follow this website:

https://www.eia.gov/dnav/pet/hist/Le...s=WCRFPUS2&f=W
persistence and determination alone are omnipotent
  • #7,387
  • Apr 18, 2020 5:38am Apr 18, 2020 5:38am
Quoting Ll1979
{quote} It's delayed info but to track us field oil production you can follow this website: https://www.eia.gov/dnav/pet/hist/Le...s=WCRFPUS2&f=W
700k decrease doesn'tseem much. I guess we will see in few days once updated
  • #7,388
  • Apr 19, 2020 3:57am Apr 19, 2020 3:57am
Anyone knows if there are charts available which ignore rollover? I would like to see how much the WTI price actually went up/down over time without impact of rollover
  • #7,389
  • Apr 19, 2020 4:33am Apr 19, 2020 4:33am
Quoting tonny47
Anyone knows if there are charts available which ignore rollover? I would like to see how much the WTI price actually went up/down over time without impact of rollover
Continues chart based on current contract:
https://www.tradingview.com/chart/?symbol=nymex:cl1!

Continues chart based on next contract in front:
https://www.tradingview.com/chart/?symbol=nymex:cl2!
persistence and determination alone are omnipotent
  • #7,390
  • Apr 19, 2020 4:50am Apr 19, 2020 4:50am
Quoting tonny47
Anyone knows if there are charts available which ignore rollover? I would like to see how much the WTI price actually went up/down over time without impact of rollover
See xti. Usd...
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -1,496
  • #7,391
  • Apr 19, 2020 5:12am Apr 19, 2020 5:12am
Quoting mohsinali
{quote} See xti. Usd...
i think the price of xtiusd will change tomorrow from $18 to $25, but that doesnt mean you would have made $7. It's just because it's being rebased, which is fine but that brings me back to response I posted in my previous post regarding 2011 lows being $17 whether you see 18 dollars today or 25 dollars tomorrow. I would assume that 2011 low would increase in proportion of increase of rollover from May to June
  • #7,392
  • Apr 19, 2020 6:13am Apr 19, 2020 6:13am
there is a high chance that crude oil will go down too. because crude oil demand is in surplus. Fortunately, crude oil losses were cut last week
  • #7,393
  • Apr 19, 2020 6:16am Apr 19, 2020 6:16am
good read about Trader Hin Leong

https://www.bloomberg.com/news/artic...million-losses
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #7,394
  • Apr 19, 2020 6:31am Apr 19, 2020 6:31am
Quoting kavanto
there is a high chance that crude oil will go down too. because crude oil demand is in surplus. Fortunately, crude oil losses were cut last week
if you think demand is in surplus, wouldnt that drive the price up?
  • #7,395
  • Apr 19, 2020 7:37am Apr 19, 2020 7:37am
Quoting Ll1979
{quote} Continues chart based on current contract: https://www.tradingview.com/chart/?symbol=nymex:cl1! Continues chart based on next contract in front: https://www.tradingview.com/chart/?symbol=nymex:cl2!
thank you, but isn't the data the same with exception of the latest month? for instance, if you look at Nov 2001, low was 17.12 and 17.30 on CL1 and CL2 chart respectively. I would not expect them to be so close and thought that CL2 chart would show low of 2001 as $24 (if $25 in CL2 is equivalent of $18 in CL1 and CL1 low last week and in 2001 was $17).

We have reached this historical support of $17 last week but this is not going to be visible next week in CL2

  • #7,396
  • Apr 19, 2020 7:37am Apr 19, 2020 7:37am
My full analysis on USOIL:
Inserted Video
Technical Analyst & Trader @ Vikinsa
  • #7,397
  • Apr 19, 2020 12:44pm Apr 19, 2020 12:44pm
19 April 2020


Oil still taking its time at current lows, couple of reversal patterns on the H1 and M15 charts last week got invalidated but the H4 clealry showing a falling wedge setup, as such expecting further siedways movement and even price testing that 16USD mark now before heading up.

Break and close of the 23.6 handle seems to be a pre requisite for further continuation, have been buying into the lows with every leg lower, looking for that reversal for starters would like to begin seeing some bullish H4 and D1 candles at these lows for validation of these reversal setups...

Till that happens we can expect further sideways and incremental drops in price....
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4&1 All Time Profit: $37,496
  • #7,398
  • Apr 19, 2020 6:09pm Apr 19, 2020 6:09pm
14$
  • #7,399
  • Apr 19, 2020 10:53pm Apr 19, 2020 10:53pm
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yes yes yes
  • #7,400
  • Apr 20, 2020 12:18am Apr 20, 2020 12:18am
Hello CL troopers.
Overnight prices took a dump.
lets see if the day brings some pull back or will be a dull session.
I will post taken trades from the room after us session closes.
good luck to all
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