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  • #10,681
  • Aug 3, 2022 12:01pm Aug 3, 2022 12:01pm
Quoting Temujin
{quote} Will be around this area for some time as the draws are pretty substantial lately on inventories.
Inventories increaseby a lot, OPEC added productivity, all looking good. Lows been back tested again, oil heads towards $69 EMA50 monthly. No way!? Keeping my short running for a bit.
  • #10,682
  • Aug 3, 2022 2:11pm Aug 3, 2022 2:11pm
Quoting Jolita
{quote} Inventories increaseby a lot, OPEC added productivity, all looking good. Lows been back tested again, oil heads towards $69 EMA50 monthly. No way!? Keeping my short running for a bit.
Get ready for a bounce at $86
Be humble or be humbled.
  • #10,683
  • Aug 3, 2022 5:12pm Aug 3, 2022 5:12pm
Anyone interested in NatGas talk? Not much recent here.
  • #10,684
  • Aug 3, 2022 5:56pm Aug 3, 2022 5:56pm
Quoting Temujin
{quote} Get ready for a bounce at $86
$89 will do for me very well
  • #10,685
  • Aug 4, 2022 12:36pm Aug 4, 2022 12:36pm
Quoting Jolita
{quote} $89 will do for me very well
Hi Temujin, day later and we have touched previous support $87


US gov really trying hard to beat energy prices.
  • #10,686
  • Aug 4, 2022 2:07pm Aug 4, 2022 2:07pm
Quoting Jolita
{quote} Hi Temujin, day later and we have touched previous support $87 US gov really trying hard to beat energy prices.
Yes bearish now, higher rates and Fed liquidity drain also sucking the price out of oil. A bounce is coming. I'm averaging down on a 2X oil fund.
Be humble or be humbled.
  • #10,687
  • Aug 5, 2022 5:49am Aug 5, 2022 5:49am
Non farm payrolls for July in a couple hours. My opinion the number will be high enough to take us to $91
Be humble or be humbled.
  • #10,688
  • Aug 6, 2022 12:27pm Aug 6, 2022 12:27pm
Does anyone day trade CL futures for living?
  • #10,689
  • Aug 7, 2022 9:19pm Aug 7, 2022 9:19pm
Quoting Crudewizard
Does anyone day trade CL futures for living?
I’m also wondering this.
i switched to ES futures because quarterly contracts and AMP broker after covid rolls over oil contracts early making it impossible to trade oil futures evwry week. In fact some months you can only trade it 2.5 weeks ffs.
Are there any GOOD futures brokers out there that allow oil trading upto volume rollover at least?
  • #10,690
  • Aug 8, 2022 10:11am Aug 8, 2022 10:11am
Quoting Cools81
{quote} I’m also wondering this. i switched to ES futures because quarterly contracts and AMP broker after covid rolls over oil contracts early making it impossible to trade oil futures evwry week. In fact some months you can only trade it 2.5 weeks ffs. Are there any GOOD futures brokers out there that allow oil trading upto volume rollover at least?
Interactive brokers margin increased to 27k from 9.5k since ukraine war. So you are saying they rollover contract earlier at AMP? Their margin is 8.5k per contract which is reasonable.
  • #10,691
  • Aug 8, 2022 5:53pm Aug 8, 2022 5:53pm
Quoting Crudewizard
{quote} Interactive brokers margin increased to 27k from 9.5k since ukraine war. So you are saying they rollover contract earlier at AMP? Their margin is 8.5k per contract which is reasonable.
Yes AMP are ridiculous. Great for commissions, reliable and OCO but with OIL contracts as I said 2.5 weeks some months. Plus they haven't switched to TETON ordering system on sierra charts. Stage 5 brokers I think maybe the best to use.
Anyway Ill stick to ES for now. Heres some thoughts on todays USA closing session on OIL.
https://i.gyazo.com/093f5be4a240e381...a764e136bf.png
  • #10,692
  • Aug 9, 2022 1:44am Aug 9, 2022 1:44am
#NGAS / Weekly
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  • #10,693
  • Aug 9, 2022 2:13am Aug 9, 2022 2:13am
Quoting Ayax.TSS
#NGAS / Weekly{image}
You're brave, anyway thinking 90.994 will need to hold for now, WTI Cash.


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"Don't Shoot Me I'm Only the Piano Player"
  • #10,694
  • Aug 9, 2022 12:29pm Aug 9, 2022 12:29pm
Quoting Cools81
{quote} Yes AMP are ridiculous. Great for commissions, reliable and OCO but with OIL contracts as I said 2.5 weeks some months. Plus they haven't switched to TETON ordering system on sierra charts. Stage 5 brokers I think maybe the best to use. Anyway Ill stick to ES for now. Heres some thoughts on todays USA closing session on OIL. {image}
Do they give you a headsup that contract is about to expire so you can switch to next month contract earlier.
  • #10,695
  • Aug 9, 2022 6:12pm Aug 9, 2022 6:12pm
Not exactly no. Its about a week before volume rolls over. Meaning can only trade 3 weeks a month and if expiry falls on certain days it can mean 2.5 weeks only.
What broker do you use?
  • #10,696
  • Aug 9, 2022 11:00pm Aug 9, 2022 11:00pm
Quoting Cools81
Not exactly no. Its about a week before volume rolls over. Meaning can only trade 3 weeks a month and if expiry falls on certain days it can mean 2.5 weeks only. What broker do you use?
IB cant trade amount of lots as I used to. Increased margins by 3 fold lol
  • #10,697
  • Aug 10, 2022 12:33am Aug 10, 2022 12:33am
Here we go again, staying short for now. Precious still struggling with that 1800 level, retirement fund a bit nervous tho ; )

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"Don't Shoot Me I'm Only the Piano Player"
  • #10,698
  • Aug 10, 2022 12:40am Aug 10, 2022 12:40am
Quoting Crudewizard
{quote} IB cant trade amount of lots as I used to. Increased margins by 3 fold lol
damn. Maybe try Stage 5 Brokers.
  • #10,699
  • Edited 4:44pm Aug 10, 2022 4:09pm | Edited 4:44pm
Quoting yani38
Here we go again, staying short for now. Precious still struggling with that 1800 level, retirement fund a bit nervous tho ; ) {image}
Short is the way to go. Inflation numbers showed a good drop and most likely a big build in inventory tomorrow not a draw. $86 soon and then $80 will be a buy level.

Actually it is a tough one to figure out this time because we are at the 200 Day MA.
Be humble or be humbled.
  • #10,700
  • Aug 12, 2022 6:38am Aug 12, 2022 6:38am
Oil retraced this week to $94.35, looks we are pausing here at resistance.
Atm sl at $96 is safe, will look for short entry should return back to support, circa $90.00 and lower.
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