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WTI Crude Oil Trading

  • #10,421
  • Apr 27, 2022 6:04pm Apr 27, 2022 6:04pm
Quoting Jolita
Not much is happening on the chart today. Price is squeezed and trying to break resistance.
https://oilprice.com/Energy/Crude-Oi...-Momentum.html

https://www.forexlive.com/news/eia-u...cted-20220427/
Be humble or be humbled.
  • #10,422
  • Apr 27, 2022 6:11pm Apr 27, 2022 6:11pm
Resistance is holding. Waiting to see which way it breaks out. May get supm nice within the next 2 sessions
  • #10,423
  • Apr 28, 2022 2:49pm Apr 28, 2022 2:49pm
I was stopped out on my short position. Fundamentals and inventories were bearish. U.S. GDP was even NEGATIVE for Q1. Teaches me a lesson, never short oil. In good times there is investment and high draw downs. In times of war and trouble there still long interest. Buy the dips, my rule from now on.
Be humble or be humbled.
  • #10,424
  • Apr 28, 2022 3:19pm Apr 28, 2022 3:19pm
Quoting Temujin
I was stopped out on my short position. Fundamentals and inventories were bearish. U.S. GDP was even NEGATIVE for Q1. Teaches me a lesson, never short oil. In good times there is investment and high draw downs. In times of war and trouble there still long interest. Buy the dips, my rule from now on.

Sorry to hear, hope you will make double profit back soon. Good

Russia continue the threats, gas supply was cut to Poland and Bulgaria, more countries to follow.
Unknown situation and panic makes bullish sentiment.

I think we still have to touch $106, then see if resistance holds, if it does, we should go lower...
Again, chances are 50/50.
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  • #10,425
  • Apr 28, 2022 5:45pm Apr 28, 2022 5:45pm
Quoting Jolita
{quote} Sorry to hear, hope you will make double profit back soon. Good Russia continue the threats, gas supply was cut to Poland and Bulgaria, more countries to follow. Unknown situation and panic makes bullish sentiment. I think we still have to touch $106, then see if resistance holds, if it does, we should go lower... Again, chances are 50/50. {image}
Thanks! Yeah, crazy geopolitical events.
Be humble or be humbled.
  • #10,426
  • Apr 28, 2022 6:17pm Apr 28, 2022 6:17pm
Quoting Temujin
{quote} Thanks! Yeah, crazy geopolitical events.
Yes, daily tensions are building between Russia and USA.
Biden has proposed new xxbln in funding for the Ukraine. Germany sending tanks to Ukraine..
Putin has no other way but to step out. His army is a joke, poorly prepared.

Covid cases are rising in South Africa and Taiwan. Shanghai still under lockdown.

Cant wait all this nightmare to end.

Night.
  • #10,427
  • Apr 28, 2022 7:55pm Apr 28, 2022 7:55pm
Quoting Temujin
{quote} This is the great thing about trading oil guys; even on the way down there are so many bounces. Like a beach ball under water it pops back up faster than FOREX, Indexes or Metals. I've learned the instrument you trade is a MAJOR factor in your success as a trader. Have a good weekend all.
Certainly never says die. How have you all been going? Been trading a narrow band for a while. Good to see $106 earlier this morning, the wait worth it.
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"Don't Shoot Me I'm Only the Piano Player"
  • #10,428
  • Apr 29, 2022 7:11am Apr 29, 2022 7:11am
it being friday market is always unpredictable for me. could get profit taking or another surge up. definitely would be anticipating more bullishness next week. all this talk of oil embargo's is spooking the markets so i'm expecting wild swings . got to trade carefully and small (relatively)
  • #10,429
  • Apr 29, 2022 1:53pm Apr 29, 2022 1:53pm
Quoting Kwame Freder
it being friday market is always unpredictable for me. could get profit taking or another surge up. definitely would be anticipating more bullishness next week. all this talk of oil embargo's is spooking the markets so i'm expecting wild swings . got to trade carefully and small (relatively)
so it did the reverse made a mini surge up to 107 and then a drop below 104 (probably profit taking). glad i stayed out, let's see what next week brings
  • #10,430
  • Apr 29, 2022 5:34pm Apr 29, 2022 5:34pm
Wow! what a day. The stock indexes totally crashed again.
Be humble or be humbled.
  • #10,431
  • Apr 29, 2022 8:43pm Apr 29, 2022 8:43pm
A pretty good day for WTI, ends $104/5 after touching 108.49 earlier in the session.

GOLD closed sub-1900, wiping out earlier small gains, $1,896.

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"Don't Shoot Me I'm Only the Piano Player"
  • #10,432
  • Edited 3:26pm May 1, 2022 3:15pm | Edited 3:26pm
Hope you've had a good weekend.

Pressure on cutting oil supplies from Russia continues.

https://www.reuters.com/world/europe...ay-2022-05-01/

Germany is planning to cut oil supply from Russia by the end of the summer.
https://www.bloomberg.com/news/artic...in-late-summer

Six missiles landed close near Iraq's refinery.

Schwedt refinery will be under temporary state control.

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Same pattern on GU ended with bearish break of structure.
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  • #10,433
  • May 2, 2022 8:13pm May 2, 2022 8:13pm
Thanks Jolita, hope you enjoyed the weekend as well, we had a holiday yesterday (Labor Day).

WTI currently strong, @ 106.00 as I type. Hope it breaks above resis @ about 108.00, then 110.00.

GOLD Cash current 1862.

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"Don't Shoot Me I'm Only the Piano Player"
  • #10,434
  • May 3, 2022 2:43pm May 3, 2022 2:43pm
Revisiting $101
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Covid cases in Beijing created bearish sentiment.
  • #10,435
  • May 3, 2022 3:06pm May 3, 2022 3:06pm
Quoting Jolita
Revisiting $101 {image} Covid cases in Beijing created bearish sentiment.
Down and then pops up, strange price action. Yes, bearish factors with fears of tight supply to keep it floating up there at $100
Be humble or be humbled.
  • #10,436
  • May 3, 2022 4:31pm May 3, 2022 4:31pm
Quoting yani38
Thanks Jolita, hope you enjoyed the weekend as well, we had a holiday yesterday (Labor Day). WTI currently strong, @ 106.00 as I type. Hope it breaks above resis @ about 108.00, then 110.00. GOLD Cash current 1862. {image}
Thanks Yani. Oh, nice. Have you done anything special?
We also had a bank holiday on Monday. At it is spring time in London I spent a few hours outdoors, walking in the woods.

Yes, Gold temporary dipped to 1850. I believe will retrace back up.
  • #10,437
  • May 3, 2022 5:03pm May 3, 2022 5:03pm
API Data this week

A draw of 3.47 MILLION BARELLS.
Be humble or be humbled.
  • #10,438
  • May 3, 2022 6:35pm May 3, 2022 6:35pm
There is very high impact FOMC meeting and press release tomorrow. Commodities could get slammed down hard. Be careful.
Be humble or be humbled.
  • #10,439
  • May 4, 2022 4:24am May 4, 2022 4:24am
Quoting Jolita
{quote} Thanks Yani. Oh, nice. Have you done anything special? We also had a bank holiday on Monday. At it is spring time in London I spent a few hours outdoors, walking in the woods. Yes, Gold temporary dipped to 1850. I believe will retrace back up.

Thanks Jolita, a late reply but yes had a fun long w/e, spent with friends. Yep, GOLD dipped to 1850, was in fun bagging out that sector earlier, have been short from Friday from around 1895, and sold more up to 1916, as posted, a good result. Bit of a retrace going on there atm, but a dull subject.

Anyway, WTI 106+ right now, trust it keeps going, I'm running with a few for nothing this one now, from $32 odd.

Thanks for your analysis and charts, always of interest. Good luck bye.
"Don't Shoot Me I'm Only the Piano Player"
  • #10,440
  • May 4, 2022 4:32am May 4, 2022 4:32am
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"Don't Shoot Me I'm Only the Piano Player"
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