WTI Crude Oil Trading

Quoting tonny47

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{quote} Why should the price go to PP first before falling down?

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Quoting babayaga

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{quote} Probably for do not leave something where you have to come back than.., "missing pivot".., we have some already around 30 and even lower...

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Quoting tonny47

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{quote} not sure what you mean exactly. personally, i dont use pivots at all on oil because i dont see it as a number that price will come back to test. oil is just too fundamentally driven in my opinion.

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Quoting mario83

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you guys seem too pesimistic. Fundamentally nothing significant has changed. I honestly dont see a chance to have oil below 30USD atm. COVID cases are raising but noone is talking about lockdowns atm and i guess noone is so brave to call lockdown again. Demand is not picking up but... nothing significant has changed. I believe we will stop at 35USD. Just look at the chart... there was no real correction for so long... its pure PA {image}

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Quoting mario83

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you guys seem too pesimistic. Fundamentally nothing significant has changed. I honestly dont see a chance to have oil below 30USD atm. COVID cases are raising but noone is talking about lockdowns atm and i guess noone is so brave to call lockdown again. Demand is not pickinrichg up but... nothing significant has changed. I believe we will stop at 35USD. Just look at the chart... there was no real correction for so long... its pure PA {image}

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Quoting seth10

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{quote} Refer to Post 8297. We did have that rally in spot while wti was flat .Anyway, another crash to previous wti lows will not happen. If it does, you're going to be rich in the aftermath. To those of you who want to take advantage of wti longer term(holding for a month ) try oil etfs. They are cheaper. USL e.g you can buy it in the morning. In any event the path is up even if it does fall below 35 for a bit.

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Quoting bulltrap

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Hello fellow traders. {quote} mades I was drawn in by your recent comment because I have been waiting for a good time to buy Brent and sell WTI. Have you been following the spread for awhile? I feel it will retrace to where it was months ago, Brent prices were lagging WTI in the recent meltdown and I don’t see the overall relationship (transportation cost, distribution etc.) as significantly changed but could be missing something. My approach usually requires careful entry and a medium term investment horizon.

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Quoting tonny47

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{quote} Not sure how low it will go but you mentioned some fundamental reasons on previous page. Plus Saudis have slashed their October prices. In England, social gatherings are going to be reduced to 6 people indicating things are not getting better. I am expecting covid cases will rise a lot in winter as more people will get tested because every person who starts coughing will get tested

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Quoting bulltrap

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{quote} I agree, 35 looks like a nice buy opportunity. I'm not too hot on the ETFs for longer time frames and here is why - ETFs are prone to tracking error and decay, especially those with 3x leverage. For example, here are graphs of two different oil ETFs over the course of six months. One is long oil the other is short, which would you prefer to have held? {image} {image} Also, volatility in the underlier can wipe an ETF out. I was checking some of the ETFs I used to trade and sure enough, they are gone now. {image} I like to use ETFs for weeks...

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Quoting Kwame Freder

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Bulls have entered the market but I’m not sure that whatever caused the downward pressure is gone. This current move up could just be a pull back, could even get another 100+ pips up before a sell off

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Quoting seth10

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{quote} I understand your point . The two natural gas etns were credit swiss owned and not backed by the underlying, hence not etfs. They were a liability to credit swiss and were pulled . Did the same thing in 2016. I stay clear from them and leveraged ETFs. 3x. as well as inverse ETFs. With regards to uco I would have made money from may to August with 4 big trades easily. You buy dips, then sell on the highs as long as it's a bull market. Give the market time to move. The ETFs don't have to outperform the underlying, they just have to perform....

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