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  • #8,121
  • May 12, 2020 5:32pm May 12, 2020 5:32pm
Quoting auricforecas
{quote} Well yeah, in the bigger game/picture no but I am looking for smaller timeframes also, at higher leverage... in parallel to long-term trading... Would I wanted more or even expected more at that entry? Yes... I consider it as a good entry, specially for short-term high-leverage spike... but this part of the day are not the best, I prefer LON times...
lets see what tomorrow brings for us I want to see 35USD and close all longs before rollover cheers
  • #8,122
  • Edited 5:49pm May 12, 2020 5:35pm | Edited 5:49pm
oil inventories expected to be over 7 mil tomorrow
https://oilprice.com/Latest-Energy-N...d-Rebound.html
  • #8,123
  • May 12, 2020 5:42pm May 12, 2020 5:42pm
Quoting mario83
{quote} Totally agree with you, however i'm more optimistc about pandemic. I think we will reach 35USD on BRENT and then come back to 30USD area as of today. There is no much demand as of now and as you mentioned there is 1.2Bln barrels on tankers awaiting. Once airlines relaunch and there will be no second wave then i wil be more bullish. For now i see 35-38 as top. If we see second wave we could see the huge sell off again. I'm happy for 3rd stage of reopening economy starting on Monday in my country. Happy to see hairdresser again lol PS: If...
interesting how everyone sees things differently.
anyway, we shall see how this plays out. i will try to sit in my hands not to sell although very tempted
  • #8,124
  • May 13, 2020 12:57am May 13, 2020 12:57am
HÔM NAY SELL BRENT THÁNG 6 TAIJ 30, SL 31 Tp a week 25.5
  • #8,125
  • May 13, 2020 1:04am May 13, 2020 1:04am
Quoting tonny47
{quote} interesting how everyone sees things differently. anyway, we shall see how this plays out. i will try to sit in my hands not to sell although very tempted
I agree with you although the rollover is next week and cushing is still land locked for WTI
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persistence and determination alone are omnipotent
  • #8,126
  • May 13, 2020 3:27am May 13, 2020 3:27am
Quoting Ll1979
{quote} I agree with you although the rollover is next week and cushing is still land locked for WTI {image}
oh i am not long. i am super tempted to short but scared because i see quite a bit of unreasonable optimism which is confusing me
  • #8,127
  • May 13, 2020 3:40am May 13, 2020 3:40am
Quoting tonny47
{quote} oh i am not long. i am super tempted to short but scared because i see quite a bit of unreasonable optimism which is confusing me
Big storage inventories will have cap on the move upwards next couple of months imho. I am waiting for the inventory numbers and field production later today.
persistence and determination alone are omnipotent
  • #8,128
  • May 13, 2020 3:50am May 13, 2020 3:50am
Quoting Ll1979
{quote} Big storage inventories will have cap on the move upwards next couple of months imho. I am waiting for the inventory numbers and field production later today.
how is knowing how much has built up going to help you make decision though? last week the expectation was 7 mil. actual was 4 mil yet there wasnt really positive reaction. the same this week. expectation is 7 mil. only positive would be if there is a reduction.

bit confused what your view is. do you think it can still go higher? you pointed out expiry and build up. the only response to that is to short, isnt it?
  • #8,129
  • May 13, 2020 4:35am May 13, 2020 4:35am
Quoting tonny47
{quote} how is knowing how much has built up going to help you make decision though? last week the expectation was 7 mil. actual was 4 mil yet there wasnt really positive reaction. the same this week. expectation is 7 mil. only positive would be if there is a reduction. bit confused what your view is. do you think it can still go higher? you pointed out expiry and build up. the only response to that is to short, isnt it?
The market dictates the price and trading around the inventories is never been reliable imho.

I suspect supply and demand will be balanced in the future and inventories are decreasing in size (this will cap the price of oil for the next months) making a move towards $50 in the next couple of weeks unlikely imho. Nobody knows what is going to happen as the economy worldwide took a major swing and corona still remains an unknown variable. V shaped recovery i don't think will see this with that many unemployed.

We can track progress by looking at the inventory numbers and production statements

Depending on what products you trade the outcome might be different. The difference is the physical settlement between Brent and WTI (land locked). Depending on the fundamentals and technicals i am looking for shorting opportunities in WTI to exploit a potential weakness in the settlement.
persistence and determination alone are omnipotent
  • #8,130
  • May 13, 2020 5:42am May 13, 2020 5:42am
BP to Cut Iraq Drilling by More Than Half

http://www.energyintel.com/pages/eig...f-1072410&ts=1
  • #8,131
  • May 13, 2020 6:04am May 13, 2020 6:04am
Inventories and price -
https://www.eia.gov/outlooks/steo/

Brent crude oil prices averaged $18 per barrel (b) in April, a decrease of $13/b from the average in March. EIA forecasts Brent crude oil prices will average $34/b in 2020, down from an average of $64/b in 2019. EIA expects prices will average $23/b during the second quarter of 2020 before increasing to $32/b during the second half of the year. EIA forecasts that Brent prices will rise to an average of $48/b in 2021, $2/b higher than forecast last month, as EIA expects that declining global oil inventories next year will put upward pressure on oil prices.

EIA expects that global liquid fuels inventories will grow by an average of 2.6 million b/d in 2020 after falling by 0.2 million b/d in 2019. EIA expects inventory builds will be largest in the first half of 2020, rising at a rate of 6.6 million b/d in the first quarter and increasing to builds of 11.5 million b/d in the second quarter as a result of widespread travel limitations and sharp reductions in economic activity. Firmer demand growth as the global economy begins to recover and slower supply growth will contribute to global oil inventory draws beginning in the third quarter of 2020. EIA expects global liquid fuels inventories will fall by 1.9 million b/d in 2021.
  • #8,132
  • May 13, 2020 6:29am May 13, 2020 6:29am
Quoting LloydOz
{quote} Its a contractual issue. It would be unwise for anyone to provide advice without being in possession of the full facts. Anything else would be speculation. Any communications in any dispute should be in writing. On a philosophical note, I'm a little surprised that CFD brokers are not playing ball, and indeed being deliberately provocative. Not smart, especially from what I see about the $ amounts from a brokers perspective. I think that Gain is a major outfit, not some niche player. The regulators are just waiting for an excuse to sink their...

I am wondering, no one trade oil with GAIN CAPITAL here? Just want to check, did they get the same problem?
Forex, my love!
  • #8,133
  • May 13, 2020 6:55am May 13, 2020 6:55am
Couple statistics
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  • #8,134
  • May 13, 2020 6:57am May 13, 2020 6:57am
Quoting TaoJin88
{quote} I am wondering, no one trade oil with GAIN CAPITAL here? Just want to check, did they get the same problem?
Read this, it may help - in this case the broker covered the loss themselves because it was a platform issue their end.

https://www.zerohedge.com/energy/one...owed-9-million
  • #8,135
  • May 13, 2020 7:32am May 13, 2020 7:32am
WTI having an allergic reaction to the 19.85 handle, 4th rejection. Don't think it's going to crack 20 until contract rolls over (unless there's some earth shattering news 'tween here and there).
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  • #8,136
  • May 13, 2020 7:39am May 13, 2020 7:39am
Quoting Jade Gate
{quote} Read this, it may help - in this case the broker covered the loss themselves because it was a platform issue their end. https://www.zerohedge.com/energy/one...owed-9-million
thanks a lot, let me check it
Forex, my love!
  • #8,137
  • May 13, 2020 7:49am May 13, 2020 7:49am
OPEC Monthly report highlights
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persistence and determination alone are omnipotent
  • #8,138
  • May 13, 2020 7:52am May 13, 2020 7:52am
As I know, Interactive Brokers provide Futures, not CFDs on USOIL, but GAIN Capital provides CFDs, not Futures.

and, there are some good news for traders with IB:
The good news for Shah and countless others like him is that customers would be made whole, Peterffy promised. "We will rebate from our own funds to our customers who were locked in with a long position during the time the price was negative any losses they suffered below zero."
Forex, my love!
  • #8,139
  • May 13, 2020 9:31am May 13, 2020 9:31am
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persistence and determination alone are omnipotent
  • #8,140
  • May 13, 2020 10:19am May 13, 2020 10:19am
Indecision with some ping pong action. With the rejection at the top I would have expected a break lower by now but it seems thats not in the cards either. Still more on the bull side
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