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WTI Crude Oil Trading

  • #8,501
  • Jun 16, 2020 10:27am Jun 16, 2020 10:27am
Well done! I am annoyed, was busy with something else and missed this move down thought I would short if the price got a little higher
  • #8,502
  • Jun 16, 2020 11:00am Jun 16, 2020 11:00am
currently at a massive indecision area. not sure how much that Beijing news will continue to push it down. expecting a bounce
  • #8,503
  • Jun 16, 2020 11:57am Jun 16, 2020 11:57am
Just to put the recent volume in perspective. This chart shows that while crude oil prices have been appreciating, volume throughout the rally has been relatively very low. Until we see more volume, oil prices are susceptible to surprise swings.
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  • #8,504
  • Jun 16, 2020 12:58pm Jun 16, 2020 12:58pm
the reaction to API should be interesting, wti is proving to be very bullish and resilient but last weeks api data drove the market down. my guess would be either a spike down which is bought into or a big nothing burger.
  • #8,505
  • Jun 16, 2020 2:12pm Jun 16, 2020 2:12pm
Quoting Kwame Freder
the reaction to API should be interesting, wti is proving to be very bullish and resilient but last weeks api data drove the market down. my guess would be either a spike down which is bought into or a big nothing burger.
I think private survey data comes out today as well. Expecting some selloff. We will see
  • #8,506
  • Jun 16, 2020 3:05pm Jun 16, 2020 3:05pm
price action is very skittish right now i think the news in 30 minutes will drop oil, just my opinion
  • #8,507
  • Jun 16, 2020 3:44pm Jun 16, 2020 3:44pm
surprise build as per private data survey, hence the dip few min ago
https://www.forexlive.com/news/!/pri...ntory-20200616
  • #8,508
  • Jun 16, 2020 3:49pm Jun 16, 2020 3:49pm
bears can't sustain any type of a drive. it will probably continue to go up in the following sessions
  • #8,509
  • Jun 16, 2020 4:06pm Jun 16, 2020 4:06pm
Quoting Kwame Freder
bears can't sustain any type of a drive. it will probably continue to go up in the following sessions
Not trading it but normally when the private data is bad then there is a selloff overnight. Wouldn't be surprised to see oil at 36.50-37 when I wake up tomorrow
  • #8,510
  • Jun 16, 2020 4:08pm Jun 16, 2020 4:08pm
WTI went up by $1.03 or 3% today within a very good trade range of $2.69.
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  • #8,511
  • Jun 16, 2020 11:06pm Jun 16, 2020 11:06pm
https://www.cnbc.com/amp/2020/06/17/...cond-wave.html
  • #8,512
  • Jun 17, 2020 12:47am Jun 17, 2020 12:47am
Bulls overoptimistic as per COT report

No wonder its hard to rise, they start to clear their fat longs.

Still waiting for some good and strong dip. But the FED is pumping up everything
COT: The precious data ignored
  • #8,513
  • Jun 17, 2020 7:28am Jun 17, 2020 7:28am
Crude oil is likely to rebound, because there's good news from OPEC that will cut crude oil production.
  • #8,514
  • Jun 17, 2020 8:12am Jun 17, 2020 8:12am
Quoting kavanto
Crude oil is likely to rebound, because there's good news from OPEC that will cut crude oil production.
Which news and cuts are you referring to?
  • #8,515
  • Jun 17, 2020 9:20am Jun 17, 2020 9:20am
WTI in a holding pattern awaiting the inventory numbers. Looks like we might get a big reaction. I closed my short from earlier, not worth the risk. Will stay out until direction is clearer.
  • #8,516
  • Jun 17, 2020 10:46am Jun 17, 2020 10:46am
Quoting Kwame Freder
WTI in a holding pattern awaiting the inventory numbers. Looks like we might get a big reaction. I closed my short from earlier, not worth the risk. Will stay out until direction is clearer.
No big reaction still in a range. i think if it settles at the higher end of the range we will break out later or tomorrow. will not short
  • #8,517
  • Jun 17, 2020 10:52am Jun 17, 2020 10:52am
So sorry......I am reasonably new to trading, so excuse my "dumb questions"!! So the news wasn't bad, so do you expect the market to keep an upward trend? I was concerned after reading articles that it could go back down to the 32/34 price....but keep seeing prices trying to head upwards. Thank you for your patience!! :-)
  • #8,518
  • Jun 17, 2020 12:08pm Jun 17, 2020 12:08pm
Quoting swissclaire
So sorry......I am reasonably new to trading, so excuse my "dumb questions"!! So the news wasn't bad, so do you expect the market to keep an upward trend? I was concerned after reading articles that it could go back down to the 32/34 price....but keep seeing prices trying to head upwards. Thank you for your patience!! :-)
The way I understand it private survey expected bigger build up oil. Actual numbers, although worse than forecast, showed smaller build up of oil, hence somewhat positive news.
Where is the price going to go? No one really knows in the short run, but should go higher in the long term. There are many factors
  • #8,519
  • Jun 17, 2020 12:24pm Jun 17, 2020 12:24pm
my bias is ofcourse long. when it breaks out of this range it will probably give 200+ pips. patience is required. probably will be the move of the week/the last real move
  • #8,520
  • Jun 17, 2020 12:26pm Jun 17, 2020 12:26pm
Quoting Kwame Freder
the reaction to API should be interesting, wti is proving to be very bullish and resilient but last weeks api data drove the market down. my guess would be either a spike down which is bought into or a big nothing burger.
API data showed builds in crude, gasoline, and distillates. We say a noticeable spike down:
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EIA data showed a build in crude, but it seems that the draws in gasoline and distillates outweighed it and crude prices actually spiked on the data:
Attached Image (click to enlarge)
Click to Enlarge Name: SNAG-0307.png Size: 13 KB
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