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WTI Crude Oil Trading

  • #7,781
  • Apr 27, 2020 6:06am Apr 27, 2020 6:06am
Quoting tonny47
{quote} that moved down to $14 faster than expected!
do you think it will go down further?? seems to have strong support at 14.10
  • #7,782
  • Apr 27, 2020 6:07am Apr 27, 2020 6:07am
Quoting DMA Trader
china's icbc to suspend all open positions on futures products linked to crude oil, natural gas, copper and soybeans as of 0900 local
probably means more volatility but not sure what the overall impact from that will be.
  • #7,783
  • Apr 27, 2020 6:11am Apr 27, 2020 6:11am
Quoting matthewcyx
{quote} do you think it will go down further?? seems to have strong support at 14.10
no clue from here. my guess is that it will go even lower (perhaps 12.5 - 13) - price just doesnt seem to be bouncing off 14. but wouldnt bet my money on it.
  • #7,784
  • Apr 27, 2020 6:29am Apr 27, 2020 6:29am
pressure is building up 14 is holding strong when usa market will open will go around 18 to 20 I am long and just now I added more.
  • #7,785
  • Apr 27, 2020 6:41am Apr 27, 2020 6:41am

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  • #7,786
  • Apr 27, 2020 7:03am Apr 27, 2020 7:03am
Support on H4?
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persistence and determination alone are omnipotent
  • #7,787
  • Apr 27, 2020 7:14am Apr 27, 2020 7:14am
Quoting Ll1979
Support on H4? {image}
i dont know what to think anymore to be honest.

bought some at 13.30 but it feels quite scary
  • #7,788
  • Apr 27, 2020 7:16am Apr 27, 2020 7:16am
Quoting tonny47
{quote} i dont know what to think anymore to be honest. bought some at 13.30 but it feels quite scary
This mess is far from over so take what you can!
persistence and determination alone are omnipotent
  • #7,789
  • Apr 27, 2020 7:20am Apr 27, 2020 7:20am
Quoting Ll1979
{quote} This mess is far from over so take what you can!
closed it with tiny profit, there is probably room for it to fall further
  • #7,790
  • Apr 27, 2020 7:23am Apr 27, 2020 7:23am
Quoting Enis
pressure is building up 14 is holding strong when usa market will open will go around 18 to 20 I am long and just now I added more.
what makes you think it will go back up to 18-20?
  • #7,791
  • Apr 27, 2020 7:23am Apr 27, 2020 7:23am
#WTI / Weekly
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  • #7,792
  • Apr 27, 2020 7:24am Apr 27, 2020 7:24am
Quoting Ll1979
Support on H4? {image}
Higher time frames tend to rule over lower time frames. Price will likely try to find some support there, but more likely the higher time frame will push it further south to re-test the recent lows, and imo, that 4 hr support line is weak (as in untested but that once). Notwithstanding US in session and current price war going on between US shale and OPEC+/Russians.
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  • #7,793
  • Apr 27, 2020 7:31am Apr 27, 2020 7:31am
Quoting tonny47
{quote} closed it with tiny profit, there is probably room for it to fall further
Everything is possible certainly when supply and demand are coming together. But if it's enough to outrun 100% storage capacity .......
persistence and determination alone are omnipotent
  • #7,794
  • Apr 27, 2020 7:46am Apr 27, 2020 7:46am
Ok, have looked into it further.. Saudis are in trouble, taking debt to get through this low prices... RU do not seems to give... and CN is buying from them more than from Saudis... Well let't not get into US atm There are some better news from EU regarding lockdowns easing etc... So with all being said... Although I would be much happier on the BUY side of the OIL... I will not wait forever and will ride the trend when I see it... So if this OIL SLIDE continues IN MAY... I will be happy to join the ride down to 5USD or bellow... I am completely indifferent regarding it as long as it makes me trading money... So observing the FALL... and then JOINING the ride... if all goes well... But just in case... will give it a WEEK (7days) tops, aka "last chance" for the UPTREND but then I am joining the "crowd"... F it
Can you afford to take that chance?
  • #7,795
  • Apr 27, 2020 7:47am Apr 27, 2020 7:47am
Quoting Ll1979
{quote} Everything is possible certainly when supply and demand are coming together. But if it's enough to outrun 100% storage capacity .......
With President Trump promising to bail out oil companies I'm amazed that WTI went from a close of $13.91 last week to only $12.30 now. Where will the bottom be?
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  • #7,796
  • Apr 27, 2020 7:53am Apr 27, 2020 7:53am
Hi, I am a newbie here, I would like to ask if anyone can refer to a broker who uses the MT5 platform and supports futures trading. Thank you
  • #7,797
  • Apr 27, 2020 7:55am Apr 27, 2020 7:55am
Quoting Hutch
{quote} With President Trump promising to bail out oil companies I'm amazed that WTI went from a close of $13.91 last week to only $12.30 now. Where will the bottom be? {image}
Trump bailing out oil companies would be great from an employment point of view i guess but everybody needs to shut-in else were facing 100% storage capacities resulting in negatives prices again.
persistence and determination alone are omnipotent
  • #7,798
  • Apr 27, 2020 8:12am Apr 27, 2020 8:12am
#BRENT / Weekly
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  • #7,799
  • Apr 27, 2020 8:18am Apr 27, 2020 8:18am
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persistence and determination alone are omnipotent
  • #7,800
  • Apr 27, 2020 8:21am Apr 27, 2020 8:21am
Quoting Ll1979
{image}
i was reading somewhere they only had around 115 mil (compared to around 1.5 billion in May) in June contracts as they invested vast majority in July and August like two weeks ago
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