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WTI Crude Oil Trading

  • #11,401
  • Feb 20, 2024 9:43am Feb 20, 2024 9:43am
Quoting FT.Trader
{quote} out 77.92. Looking to reload 77.40 Still Long UCO
out UCO
I made a mistake...
I bought $85 worth by mistake...a mistake that yielded -$2.55 loss
I would have been down thousands...lucky
  • #11,402
  • Edited 10:59am Feb 20, 2024 10:07am | Edited 10:59am
Long 77.07
add 76.96
target around 77.40
Out 77.20
  • #11,403
  • Feb 21, 2024 4:11am Feb 21, 2024 4:11am
Quoting FT.Trader
Long 77.07 add 76.96 target around 77.40 Out 77.20
Looks to be topping out again.
Be humble or be humbled.
  • #11,404
  • Feb 21, 2024 8:17am Feb 21, 2024 8:17am
Quoting Temujin
{quote} Looks to be topping out again.
i don't like the way it's trading
sidelines mode for me
  • #11,405
  • Feb 21, 2024 8:54am Feb 21, 2024 8:54am
Quoting Temujin
{quote} Looks to be topping out again.
WTI has some support at the 200 sma
  • #11,406
  • Feb 21, 2024 1:17pm Feb 21, 2024 1:17pm
Quoting FT.Trader
{quote} WTI has some support at the 200 sma
$75 yes you're right. They will sell it off before the NY open tomorrow.
Be humble or be humbled.
  • #11,407
  • Feb 22, 2024 4:45am Feb 22, 2024 4:45am
I figured why prices have been pinned despite a 12 million barrel build up; the Chinese had a big rate cut to stimulate thier economy and the Hang Seng has been up 7 days in a row. They think eventually draw downs will appear again because of the CCP buying oil.
Be humble or be humbled.
  • #11,408
  • Feb 27, 2024 5:44am Feb 27, 2024 5:44am
Lower high, looks to be turning down to $74.
Supported with the Saudis holding back a million barrels a day and China rate cuts with the 40 billion $ stimulus package.
Be humble or be humbled.
  • #11,409
  • Feb 28, 2024 2:49am Feb 28, 2024 2:49am
DEmand is picking up, China flights at the peak highs, inventories tom.
I would think $77.39 and go for $80 and $82.00.
Attached Image (click to enlarge)
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  • #11,410
  • Feb 29, 2024 5:55am Feb 29, 2024 5:55am
Been up for a month now. I think the market is getting tired on inventory builds.
Looking to short it here to $75.
Be humble or be humbled.
  • #11,411
  • Mar 1, 2024 12:14pm Mar 1, 2024 12:14pm
[quote=Jolita;14772838]DEmand is picking up, China flights at the peak highs, inventories tom. I would think $77.39 and go for $80 and $82.00.{image}[/quote

Nice but slowww.
Closed my few positions. Left one running open for $82, maybe higher, will see.
  • #11,412
  • Mar 1, 2024 2:20pm Mar 1, 2024 2:20pm
[quote=Jolita;14777576]
Quoting Jolita
DEmand is picking up, China flights at the peak highs, inventories tom. I would think $77.39 and go for $80 and $82.00.{image}[/quote Nice but slowww. Closed my few positions. Left one running open for $82, maybe higher, will see.
$80 hit and then it backed off. Let's see for next week.
Be humble or be humbled.
  • #11,413
  • Mar 4, 2024 8:48am Mar 4, 2024 8:48am
Definitely going to be oil up, stocks down with that 2 million barrel cut until the end of June. Just another expense becoming more expensive.
Be humble or be humbled.
  • #11,414
  • Mar 5, 2024 2:17pm Mar 5, 2024 2:17pm
Looking like a buy the rumor, sell the news event. Big round number looking like $80.because the rest of the market is tanking.
Be humble or be humbled.
  • #11,415
  • Mar 6, 2024 10:23am Mar 6, 2024 10:23am
WTI is back in the race
  • #11,416
  • Mar 6, 2024 1:47pm Mar 6, 2024 1:47pm
Quoting Jolita
WTI is back in the race
Maybe $83 once it can get past this $80 barrier. We will see how the non farm payrolls affects it. Dollar is still down but volatility is rising. Every dip is buy for sure.
Be humble or be humbled.
  • #11,417
  • Mar 6, 2024 2:34pm Mar 6, 2024 2:34pm
Quoting Temujin
{quote} Maybe $83 once it can get past this $80 barrier. We will see how the non farm payrolls affects it. Dollar is still down but volatility is rising. Every dip is buy for sure.

Looks like key areas for long tp $80 - $82 and $85
sell between $78-$75.

Yesterdays data from CME
Attached File(s)
File Type: pdf OpenInterest.pdf   115 KB | 331 downloads
  • #11,418
  • Mar 6, 2024 2:51pm Mar 6, 2024 2:51pm
Added levels

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  • #11,419
  • Mar 6, 2024 2:58pm Mar 6, 2024 2:58pm
I will not favour price to go below $78, this is hourly
Attached Image (click to enlarge)
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  • #11,420
  • Mar 7, 2024 10:12am Mar 7, 2024 10:12am
What oil is doing since beginning of this year is almost unprecedented, its the definition of chaos and randomness. This asset went from the best to the worst in blink of an eye. There is not a strategy for it, daytraders are focked, swing traders focked, even range traders are focked because it tends to break range only to come back immediately instead of following the break. The amount and size of wicks on daily bars is insane.
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