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WTI Crude Oil Trading

  • #8,741
  • Jul 25, 2020 9:07am Jul 25, 2020 9:07am
Waiting for longs to clear their bet

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COT: The precious data ignored
  • #8,742
  • Jul 26, 2020 8:38pm Jul 26, 2020 8:38pm
The longer it struggles at this level the greater the chance of this dipping back into the Twenties. Maybe it’s that anticipated second Covid wave
  • #8,743
  • Jul 27, 2020 2:18pm Jul 27, 2020 2:18pm
Quoting Kwame Freder
The longer it struggles at this level the greater the chance of this dipping back into the Twenties. Maybe it’s that anticipated second Covid wave
Well at least WTI went up by $0.35 today ending up above $40.
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  • #8,744
  • Jul 28, 2020 4:54am Jul 28, 2020 4:54am
The price action is literally cartoonish. Who said that oil won't move during summer? He was 110% correct.
  • #8,745
  • Jul 28, 2020 2:24pm Jul 28, 2020 2:24pm
Quoting mades
The price action is literally cartoonish. Who said that oil won't move during summer? He was 110% correct.
I agree 100% WTI went down by $0.57 today but it was a bad trading day as compared to yesterday that was a great trading day.
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  • #8,746
  • Jul 29, 2020 7:43am Jul 29, 2020 7:43am
I am short now. Even much lower than expected inventories are not pushing the price higher. Lots of uncertainty about demand. I am expecting for price to dip below 39-40 in the next few days.

Let's see, fingers crossed
  • #8,747
  • Jul 29, 2020 12:43pm Jul 29, 2020 12:43pm
Market is completely dead. Wouldn’t count on it going anywhere
  • #8,748
  • Jul 29, 2020 2:07pm Jul 29, 2020 2:07pm
Quoting Kwame Freder
Market is completely dead. Wouldn’t count on it going anywhere
No kidding trading was a total waste of time while WTI went up by $0.22 today
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  • #8,749
  • Jul 30, 2020 4:00am Jul 30, 2020 4:00am
Quoting tonny47
I am short now. Even much lower than expected inventories are not pushing the price higher. Lots of uncertainty about demand. I am expecting for price to dip below 39-40 in the next few days. Let's see, fingers crossed
so far so good, price is dropping. lets see how low it goes

also European stocks (DAX index) are taking serious beating today
  • #8,750
  • Jul 30, 2020 5:48am Jul 30, 2020 5:48am
Watch it go right back up to previous range. They r just toying with us.
  • #8,751
  • Jul 30, 2020 7:00am Jul 30, 2020 7:00am
Quoting Kwame Freder
Watch it go right back up to previous range. They r just toying with us.
I stand corrected down we go
  • #8,752
  • Jul 30, 2020 8:03am Jul 30, 2020 8:03am
I managed to get out at 38.88. over $2 ride down of profit
  • #8,753
  • Jul 30, 2020 10:48am Jul 30, 2020 10:48am
Based on that bounce I wouldn’t be surprised if we made a new high by weeks end
  • #8,754
  • Jul 30, 2020 10:53am Jul 30, 2020 10:53am
Quoting Kwame Freder
Based on that bounce I wouldn’t be surprised if we made a new high by weeks end
I actually can see it going lower to 36-37 in next two weeks. I suspect US job numbers could be quite bad which would impact demand. Just my thoughts
  • #8,755
  • Jul 30, 2020 2:07pm Jul 30, 2020 2:07pm
WTI went down by $0.95 today but with a $2.64 trading range it was a great trading day.
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  • #8,756
  • Jul 31, 2020 2:19pm Jul 31, 2020 2:19pm
WTI hardly moved today gaining only $0.12 but there were two good trades in the second half of the trading day.
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  • #8,757
  • Aug 1, 2020 9:58am Aug 1, 2020 9:58am
What has govt done to us with their lockdowns? 6 years of economic progress gone! It might not be long until stock and oil markets look like this GDP chart.
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  • #8,758
  • Aug 1, 2020 2:15pm Aug 1, 2020 2:15pm
Quoting timingchain
What has govt done to us with their lockdowns? 6 years of economic progress gone! It might not be long until stock and oil markets look like this GDP chart. {image}
I agree with you 100% but it's better to have a lockdown and save lives than protecting the economy. We can always fix the economy later but we cannot bring back the dead. As an American living in Cyprus I can tell you that there was a strict lockdown here while our compatriots were partying and protesting. The result is that everything opened here more than a month ago and there are not many new cases every day. Lets hope that this crappy virus will be beaten soon.
  • #8,759
  • Aug 3, 2020 4:44am Aug 3, 2020 4:44am
Supply demand balance play...I know today is quiet...but it is a valid setup.

After Spring 1 on heavy volume, that supply is not sufficiently absorbed, then supply re-asserts dominance, and demand has no reply! I shorted with a relatively moderate stop. That level of stop may be propped before it goes down...if it does. If I am stopped out by Upthrust...and a setup comes again, I will re-enter!
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  • #8,760
  • Aug 3, 2020 8:13am Aug 3, 2020 8:13am
Shorted now at 41.05
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