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  • #7,921
  • May 2, 2020 10:28am May 2, 2020 10:28am
Quoting tonny47
{quote} honestly, i was just reading it in news. they changed the tune altogether from super negative to very positive. July contract is trading at around $22.50, so how wrong could they be about reaching $25 in the next few weeks... no shit Sherlock (referring to Goldman), July oil is pretty much trading at $25... Oh and they also said that demand is picking up and supply has been reduced. Quality analysis and forecast! What does it even mean "relief", "cyclical tightening" and "structural repricing"??? Genuinely not sure what that means https://markets.businessinsider.com/...0-5-1029156037...

for the week view it may be yes but for Monday its negative it may happen that the negativity will come at the US timings but it will come as more contracts are short then long in future for Friday.
  • #7,922
  • Edited 12:05pm May 2, 2020 10:42am | Edited 12:05pm
There’s clear resistance in this area so I would expect a pullback but I will be looking to buy the dip because I believe we will continue to edge up
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  • #7,923
  • May 2, 2020 11:19am May 2, 2020 11:19am
Quoting Yogesh1981
{quote} for the week view it may be yes but for Monday its negative it may happen that the negativity will come at the US timings but it will come as more contracts are short then long in future for Friday.
price has been trying to break above $20 number of times, i dont think its going to hold to be honest on Monday. we shall see
  • #7,924
  • May 2, 2020 11:33am May 2, 2020 11:33am
Quoting Yogesh1981
{quote} for the week view it may be yes but for Monday its negative it may happen that the negativity will come at the US timings but it will come as more contracts are short then long in future for Friday.
how low do you think will it drop before going up?
  • #7,925
  • May 3, 2020 3:19am May 3, 2020 3:19am
I have a few questions as to why CFD crude oil prices in some places have been around 20 usd. But, my broker, the price of crude oil is still only 8.38 usd / 1 barrel.
  • #7,926
  • May 3, 2020 3:39am May 3, 2020 3:39am
Quoting kavanto
I have a few questions as to why CFD crude oil prices in some places have been around 20 usd. But, my broker, the price of crude oil is still only 8.38 usd / 1 barrel.
Your broker is currently being investigated by the regulatory authorities and the criminal justice system.
  • #7,927
  • May 3, 2020 4:10am May 3, 2020 4:10am
Quoting LloydOz
{quote} Your broker is currently being investigated by the regulatory authorities and the criminal justice system.
If thats the case i really hope his broker is Pepperstone...
  • #7,928
  • May 3, 2020 7:07am May 3, 2020 7:07am
Quoting Yogesh1981
Hidden
Demo warrior analyst..
  • #7,930
  • May 3, 2020 9:03am May 3, 2020 9:03am
#BRENT / Weekly
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  • #7,931
  • May 3, 2020 2:23pm May 3, 2020 2:23pm
Quoting Ayax.TSS
#BRENT / Weekly {image}{image}
my two cents for 1st idea... as i still believe we have to hit the bottom once more before we start going up slowly.... to complete the pattern
Extreme gut feeling trader
  • #7,932
  • May 4, 2020 4:28am May 4, 2020 4:28am
Im not sure how quick impact will be on the consumption but today:

Italy ease lockdown today
Germany announce ease today
Poland 2nd step of ease affective today
New Zealand in discussion to open traffic with Australia
USA lower rate of new cases

on the other hand OPEC and USA/CANADA cuts effective some due to commitment some due to necessity (US and CA).

lets see how it will work out
  • #7,933
  • May 4, 2020 5:51am May 4, 2020 5:51am
There have been seven crude oil production companies in the US closed and ships out at sea are selling crude oil at prices that no one has ever bought.
  • #7,934
  • May 4, 2020 6:21am May 4, 2020 6:21am
https://www.cmegroup.com/trading/ene...trikeRange=ATM

We will see at what price they open today.

.
  • #7,935
  • May 4, 2020 6:26am May 4, 2020 6:26am
Got totally screwed by my broker FXChoice. Based on macro economic realities that there is a glut of oil, and that there is no way demand will pick up enough by the time roll over from the June to the July contract occurs, I've been shorting wti on every rally. Have been holding 2 small shorts from 13-15 area on April 29, thinking this contract will drop below 10 before roll over. I get notice last week:
" Important: .WTICrude switches to July contract 4 May Switching to new contract was an extra protective measure against the volatility in the US oil market, and specifically around the front-month WTI contract since the main cause of the recent price slump is the increasing lack of physical storage."

Well DUH! That's why I shorted it! You rolling over almost 3 weeks before the normal scheduled roll over totally screws me. If you were going to do this, you should have given 30 days notice of the change. Almost seems criminal to me. Color me pi**ed!
  • #7,936
  • May 4, 2020 6:46am May 4, 2020 6:46am
Quoting drbob8000
Got totally screwed by my broker FXChoice. Based on macro economic realities that there is a glut of oil, and that there is no way demand will pick up enough by the time roll over from the June to the July contract occurs, I've been shorting wti on every rally. Have been holding 2 small shorts from 13-15 area on April 29, thinking this contract will drop below 10 before roll over. I get notice last week: " Important: .WTICrude switches to July contract 4 May Switching to new contract was an extra protective measure against the volatility in the...
same with my broker as well vantagefx but luckily no positions at all.
Extreme gut feeling trader
  • #7,937
  • May 4, 2020 7:26am May 4, 2020 7:26am
Quoting drbob8000
Got totally screwed by my broker FXChoice. Based on macro economic realities that there is a glut of oil, and that there is no way demand will pick up enough by the time roll over from the June to the July contract occurs, I've been shorting wti on every rally. Have been holding 2 small shorts from 13-15 area on April 29, thinking this contract will drop below 10 before roll over. I get notice last week: " Important: .WTICrude switches to July contract 4 May Switching to new contract was an extra protective measure against the volatility in the...
You can still transfer your position into XTIUSD instrument, if you have the option.
  • #7,938
  • May 4, 2020 7:45am May 4, 2020 7:45am
Quoting drbob8000
Got totally screwed by my broker FXChoice. Based on macro economic realities that there is a glut of oil, and that there is no way demand will pick up enough by the time roll over from the June to the July contract occurs, I've been shorting wti on every rally. Have been holding 2 small shorts from 13-15 area on April 29, thinking this contract will drop below 10 before roll over. I get notice last week: " Important: .WTICrude switches to July contract 4 May Switching to new contract was an extra protective measure against the volatility in the...
pretty annoying - as Matiz pointed out, you could use XTIUSD if your broker has it.

looking at price going up, probably doesn't make a lot of difference at the moment for you
  • #7,939
  • May 4, 2020 7:48am May 4, 2020 7:48am
Quoting Matiz10
{quote} You can still transfer your position into XTIUSD instrument, if you have the option.
Not sure how that would help my situation, as the whole reasoning is that the front month contract would drop precipitously as contract expiration/roll over approached. FXChoice does not offer the XTIUSD instrument that I know.
  • #7,940
  • May 4, 2020 7:55am May 4, 2020 7:55am
Hope one day the CMEgroup will introduce micro WTI futures so everybody can profit from it. I've seen a lot of crap last couple of weeks with some CFD trader on this thread.
persistence and determination alone are omnipotent
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