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WTI Crude Oil Trading

  • #8,821
  • Aug 24, 2020 4:07pm Aug 24, 2020 4:07pm
Quoting Kwame Freder
doesn't look like its breaking north so i'm expecting a drop to the other side of the 4H range this week
WTI slightly did break north today but only by 15˘ so anything can happen. On the other hand it was a lousy trading day.
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  • #8,822
  • Aug 24, 2020 4:27pm Aug 24, 2020 4:27pm
Quoting mario83
long @ 43.68 / 44.10 / 44.25 etc... up to 45 USD @ BRENT {image}
closed all positions @45
i was pretty sure it will be fine since supporting news of closed rigs at Mexican Bay due to hurricane. It was stated at Reuter’s that it would be equivalent to 1.3mbd.

still wondering if I did not close too early?
  • #8,823
  • Aug 25, 2020 4:14pm Aug 25, 2020 4:14pm
WTI went up by $1.01 today. I can't remember the last time this happened. Looks like it will continue going up.
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  • #8,824
  • Aug 25, 2020 5:13pm Aug 25, 2020 5:13pm
Quoting mario83
{quote} closed all positions @45 i was pretty sure it will be fine since supporting news of closed rigs at Mexican Bay due to hurricane. It was stated at Reuter’s that it would be equivalent to 1.3mbd. still wondering if I did not close too early?
well, YES. I closed too early today there was 1usd move Up. Finally tomorrow new Contact on my broker new trades.

i wonder if there is still potential to move up?
on one hand there is hurricane and closure on the see and on the other hand once price is close to 45-50usd the new rigs might be opened. Usd is also weaker and it moves the price up
  • #8,825
  • Aug 26, 2020 10:27am Aug 26, 2020 10:27am
I'm having a hard time making a case for stronger crude prices. Prices are holding steady at these levels because of aggressive supply cuts, but pre-covid demand levels aren't coming back for a long time. Manufacturing seems to have rebounded for the most part but without a strong rebound in the transportation sector I'm not sure how crude keeps at these levels.

Also, the volume in the futures contract has been very low. Here's CL (CME) since the start of 2020.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #8,826
  • Aug 26, 2020 11:11am Aug 26, 2020 11:11am
Quoting EventsTrader
I'm having a hard time making a case for stronger crude prices. Prices are holding steady at these levels because of aggressive supply cuts, but pre-covid demand levels aren't coming back for a long time. Manufacturing seems to have rebounded for the most part but without a strong rebound in the transportation sector I'm not sure how crude keeps at these levels. Also, the volume in the futures contract has been very low. Here's CL (CME) since the start of 2020. {image}
If there weren't two tropical storms (Marco and LAura) heading towards the US I would have shorted these levels. Still on the sideline.
persistence and determination alone are omnipotent
  • #8,827
  • Aug 26, 2020 2:23pm Aug 26, 2020 2:23pm
This price action is pure feckless garbage. Can’t wait for it to start trending again
  • #8,828
  • Aug 26, 2020 4:23pm Aug 26, 2020 4:23pm
Quoting Kwame Freder
This price action is pure feckless garbage. Can’t wait for it to start trending again
WTI went up by three lousy cents today so it's far from a trend.
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  • #8,829
  • Aug 27, 2020 9:10am Aug 27, 2020 9:10am
They are really giving shorts a hard time. What a struggle to move lower
  • #8,830
  • Aug 27, 2020 4:23pm Aug 27, 2020 4:23pm
Quoting Kwame Freder
They are really giving shorts a hard time. What a struggle to move lower
Of the 4 potential trades today the short trade was the best since it was a continuation from yesterday. At the end of the day WTI lost 39˘.
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  • #8,831
  • Aug 28, 2020 4:12pm Aug 28, 2020 4:12pm
WTI lost t 4˘ today in a ranging market.
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  • #8,832
  • Aug 28, 2020 5:24pm Aug 28, 2020 5:24pm
Quoting lorenso
I'm searching for provides detailed reviews and research on thousands of software applications. Any suggestion?
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  • #8,833
  • Aug 31, 2020 4:20pm Aug 31, 2020 4:20pm
WTI lost 12˘ today with only one trade using Renko 10 pips bricks. This is a lot better than last Friday.
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  • #8,834
  • Sep 1, 2020 4:23pm Sep 1, 2020 4:23pm
WTI gained 19˘ today in a lousy trading day.
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  • #8,835
  • Sep 2, 2020 9:55am Sep 2, 2020 9:55am
Getting some movement now. Looks like it may move down a few
  • #8,836
  • Sep 2, 2020 10:02am Sep 2, 2020 10:02am
cl staying on high 41s support, if holds might be decent entry for quick scalp alot of volume
rennstimp
  • #8,837
  • Sep 2, 2020 10:26am Sep 2, 2020 10:26am
i would not buy this right now. its shaping up to go down
  • #8,838
  • Sep 2, 2020 12:40pm Sep 2, 2020 12:40pm
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persistence and determination alone are omnipotent
  • #8,839
  • Sep 3, 2020 7:40am Sep 3, 2020 7:40am
We’ve got a bounce. Will it go all the way back up or stall and come back down
  • #8,840
  • Sep 3, 2020 10:01am Sep 3, 2020 10:01am
Quoting Kwame Freder
We’ve got a bounce. Will it go all the way back up or stall and come back down
it shall go up once USD goes down. I bet OPEC countries have no money to go for another price war at those levels, they will be compliant.
Russia is the big question here now, Rurmors they over produce crudeoil atm.

Im all long with loss but hoping for coming back to 46USd @BRENT / 44USD WTI

cheers
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