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WTI Crude Oil Trading

  • #11,061
  • Dec 8, 2023 5:25am Dec 8, 2023 5:25am
Quoting FT.Trader
{quote}selling some 70.71 before nfp
flat now
  • #11,062
  • Dec 8, 2023 6:38am Dec 8, 2023 6:38am
Volume on nyse 1st 5 minutes light. Could be a choppy day
  • #11,063
  • Dec 10, 2023 8:40pm Dec 10, 2023 8:40pm
getting long 72.24
  • #11,064
  • Dec 11, 2023 6:10am Dec 11, 2023 6:10am
Quoting FT.Trader
getting long 72.24
Adding 71.74
  • #11,065
  • Dec 11, 2023 7:41am Dec 11, 2023 7:41am
i really wonder if we will see $65 at the 200 WEEK average after CPI data tomorrow.
Be humble or be humbled.
  • #11,066
  • Dec 11, 2023 8:44am Dec 11, 2023 8:44am
Quoting Temujin
i really wonder if we will see $65 at the 200 WEEK average after CPI data tomorrow.
i think we could be at a seasonal low
oih etf and xle etf trading up
xop etf trading down
currently long
  • #11,067
  • Dec 11, 2023 8:46am Dec 11, 2023 8:46am
Quoting Temujin
i really wonder if we will see $65 at the 200 WEEK average after CPI data tomorrow.
you could be right about a liquidation flush to $65
  • #11,068
  • Dec 11, 2023 10:26am Dec 11, 2023 10:26am
Unless there is a total market crash, i think that would be the bottom. $68 last week could be the bottom also.
We will see the $76 resistance again. 14 week average.
Be humble or be humbled.
  • #11,069
  • Dec 11, 2023 4:39pm Dec 11, 2023 4:39pm
"A break above 71.80 should lead to 72.35, 73.05, and 73.70.
A break below 70.35, should retest 96, 85, 50, 20, and 68.80".
  • #11,070
  • Dec 12, 2023 5:23am Dec 12, 2023 5:23am
The hedge funds are short but this week or the next those production cuts should start showing draw downs instead of inventory builds every week.
Be humble or be humbled.
  • #11,071
  • Edited 11:34am Dec 12, 2023 10:26am | Edited 11:34am
What happened today, any news I missed that it sold so heavily?

I was looking on 6Dec and 2nd Aug. The inventories were negative and smaller (bigger in absolute value) than the previous/predicted.
As result, the prices of Brent decreased strongly. Why, shouldn't have this increased the prices ? What am I missing ?
  • #11,072
  • Dec 13, 2023 12:39pm Dec 13, 2023 12:39pm
Nice draw down of over 4 million barrels on WTI. This is the bottom I think
Be humble or be humbled.
  • #11,073
  • Dec 14, 2023 12:31am Dec 14, 2023 12:31am
Quoting Temujin
Nice draw down of over 4 million barrels on WTI. This is the bottom I think
Do you think there is a possibility price dips lower to $64? Can this $70 price mark hold resistance for sells? What are your thoughts?
  • #11,074
  • Dec 14, 2023 2:38am Dec 14, 2023 2:38am
Quoting Dancefriq
{quote} Do you think there is a possibility price dips lower to $64? Can this $70 price mark hold resistance for sells? What are your thoughts?
71.26-71.59 is important:
1- if price can't break it. Downtrend may reach to 68.00-67.50
2- if price can break it. we have an uptrend to 72.91-73.40
this is my plan. have a nice trading
  • #11,075
  • Dec 14, 2023 3:19am Dec 14, 2023 3:19am
Quoting Dancefriq
{quote} Do you think there is a possibility price dips lower to $64? Can this $70 price mark hold resistance for sells? What are your thoughts?
So yesterday the US dollar got slammed down on a 75 basis point rate cut projection for 2024 on the same day of the first inventory draw down for many weeks. I see $76 in a month or less, which is the 200 day MA resistance level.
Be humble or be humbled.
  • #11,076
  • Dec 14, 2023 12:22pm Dec 14, 2023 12:22pm
Causious zone, sellers might step in again.
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  • #11,077
  • Dec 14, 2023 2:55pm Dec 14, 2023 2:55pm
Quoting Jolita
Causious zone, sellers might step in again. {image}
Yes they will, I expect them to, atleast to $70
  • #11,078
  • Dec 15, 2023 7:37am Dec 15, 2023 7:37am
Quoting FT.Trader
{quote} you could be right about a liquidation flush to $65
out at 72.00 forgot to post
  • #11,079
  • Dec 18, 2023 1:40pm Dec 18, 2023 1:40pm
Im not so good at oil. But i think it will be cheap asf running up to the election.

maybe 40-50 dollar/barrel(around summer)
don’t think that Suez Canal problem will add anything more than some volatility.

let me know if i went to low or to high lol Im not a rocketsurgeon
You have an IQ lower than 90 if you interact with this user.
  • #11,080
  • Dec 18, 2023 2:48pm Dec 18, 2023 2:48pm
Quoting Ferna
Im not so good at oil. But i think it will be cheap asf running up to the election. maybe 40-50 dollar/barrel(around summer) don’t think that Suez Canal problem will add anything more than some volatility. let me know if i went to low or to high lol Im not a rocketsurgeon
hey saw your post
i have done alot better trading wti than the eurusd
wti was my main source of income this year.

i think that we are at or near a seasonal low at this time
i'm trading the jan futures contract..looking to get long...support around $65 is what i am watching for
last years closing price was 76.78 i think we will see it again
that would be a big gain for me.

about $40-50. it could happen but not likely
i listen to ray dalio on youtube. one of hid tennents is...if it did good the last decade it probably won't do good thid decade
oil did horribly last decade...
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