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  • #7,481
  • Apr 21, 2020 4:12am Apr 21, 2020 4:12am
Quoting kuroro001
{quote} Why aren't they cutting now is the question. Don't tell me they are happy with an oil price at 0 ? it sounds insane when you think about it. Every producers will go broke And since bears are overly confident now, i'd be cautious
Likely they want to get rid of their oil before the collapse. On a global scale Brent is more robust the WTI.

The latest news is that they will cut (Russia and KSA) asap. In the defense of OPEC they (before 1 april) were cutting for a while but the shale industry kept pumping resulting in loss of market share. OPEC sin't the only enemy of shale the big mayor companies wouldn't mind taking their place.

Only the strongest will survive thats why some Saudi investments have gone into mayor oil companies

https://www.wsj.com/articles/saudis-...es-11586382353
persistence and determination alone are omnipotent
  • #7,482
  • Apr 21, 2020 4:15am Apr 21, 2020 4:15am
price (June contract) is tanking on 5 minute chart
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persistence and determination alone are omnipotent
  • #7,483
  • Apr 21, 2020 4:23am Apr 21, 2020 4:23am
Nice. Go to $10 - It would be nice to earn one month's salary in just one day.
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  • #7,484
  • Apr 21, 2020 4:26am Apr 21, 2020 4:26am
Quoting Ll1979
price (June contract) is tanking on 5 minute chart {image}
nuts
  • #7,485
  • Apr 21, 2020 4:29am Apr 21, 2020 4:29am
just bring it to 0 dollars now, and lets go over it
COT: The precious data ignored
  • #7,486
  • Apr 21, 2020 4:29am Apr 21, 2020 4:29am
Quoting chrissfx
Hello @ all, I'm buying... unbelievable price... oil for free, lol
are you referring to May contract? I hope not. Or any contract really in hindsight

honestly, I wish i was shorting but burned in the past so promised myself i will be waiting for longs only. Lol, i think i am missing out on the opportunity of the lifetime
  • #7,487
  • Apr 21, 2020 4:31am Apr 21, 2020 4:31am
Quoting kuroro001
just bring it to 0 dollars now, and lets go over it
give it 10 more minutes
  • #7,488
  • Apr 21, 2020 4:31am Apr 21, 2020 4:31am
OMG - The June West Texas Intermediate oil contract has collapsed below $15.
Are we will see scenario like yesterday?
  • #7,489
  • Apr 21, 2020 4:31am Apr 21, 2020 4:31am
just a quick trade before circuit breakers kick in
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persistence and determination alone are omnipotent
  • #7,490
  • Apr 21, 2020 4:34am Apr 21, 2020 4:34am
WTF
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persistence and determination alone are omnipotent
  • #7,491
  • Apr 21, 2020 4:35am Apr 21, 2020 4:35am
ninjatrader can not handle the current CL06-20 drop
Appreciation is the key to wealth and happiness
  • #7,492
  • Apr 21, 2020 4:35am Apr 21, 2020 4:35am
Quoting Ll1979
{quote} Likely they want to get rid of their oil before the collapse. On a global scale Brent is more robust the WTI. The latest news is that they will cut (Russia and KSA) asap. In the defense of OPEC they (before 1 april) were cutting for a while but the shale industry kept pumping resulting in loss of market share. OPEC sin't the only enemy of shale the big mayor companies wouldn't mind taking their place. Only the strongest will survive thats why some Saudi investments have gone into mayor oil companies https://www.wsj.com/articles/saudis-...es-11586382353...
i guess the fact they they will start cutting few days earlier than planned doesn't make awful lot of difference at this point.

big players must low this as it allows to them to buy companies at huge bargain
  • #7,493
  • Apr 21, 2020 4:37am Apr 21, 2020 4:37am
Quoting Ll1979
just a quick trade before circuit breakers kick in {image}
so the market will close?
  • #7,494
  • Apr 21, 2020 4:38am Apr 21, 2020 4:38am
I trade with two brokers, Dukascopy and FxPro, and was planning to load up long positions if the price got close to/around 0. So I asked them (Dukascopy and FxPro) about WTI and BRENT. Both brokers confirmed that the CFD/spot price can actually go below 0...
  • #7,495
  • Apr 21, 2020 4:39am Apr 21, 2020 4:39am
Its fun to watch the PA, doing nothing

But it doesn't make sense

I'm wondering who is really moving the market now.... it sounds suspect to move the market that much
COT: The precious data ignored
  • #7,496
  • Apr 21, 2020 4:39am Apr 21, 2020 4:39am
What just happened? Did Market close? I am not able to place any trade or see graph changes on mt4.
  • #7,497
  • Apr 21, 2020 4:40am Apr 21, 2020 4:40am
buyers kicking in (FED???)
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persistence and determination alone are omnipotent
  • #7,498
  • Apr 21, 2020 4:40am Apr 21, 2020 4:40am
Quoting Ll1979
WTF {image}
Think about it. Why wont the new current futures contract do the same as the previous and go to zero? The storage issue will only get worse with the cuts only coming in May. I am short on the futures at 21.50
Boxing clever since 76.
  • #7,499
  • Apr 21, 2020 4:41am Apr 21, 2020 4:41am
Quoting kuroro001
Its fun to watch the PA, doing nothing But it doesn't make sense I'm wondering who is really moving the market now.... it sounds suspect to move the market that much
This is how fear looks like
persistence and determination alone are omnipotent
  • #7,500
  • Apr 21, 2020 4:43am Apr 21, 2020 4:43am
Quoting Ll1979
{quote} This is how fear looks like
Buy when there is fear, sell when there is greed, right?
COT: The precious data ignored
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