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- Jade Gate replied May 21, 2020
It will be interesting to see what price does here. May get some pullback ahead of momo for another north push.
- Jade Gate replied May 13, 2020
WTI having an allergic reaction to the 19.85 handle, 4th rejection. Don't think it's going to crack 20 until contract rolls over (unless there's some earth shattering news 'tween here and there).
- Jade Gate replied May 13, 2020
Read this, it may help - in this case the broker covered the loss themselves because it was a platform issue their end. url
- Jade Gate replied May 13, 2020
Inventories and price - url Brent crude oil prices averaged $18 per barrel (b) in April, a decrease of $13/b from the average in March. EIA forecasts Brent crude oil prices will average $34/b in 2020, down from an average of $64/b in 2019. EIA ...
- Jade Gate replied May 11, 2020
Price encountering some rejection as expected at the base of the flag
- Jade Gate replied May 11, 2020
Both WTI and Brent have breached below the ascending wedge bull flags (1H, 4H, Daily charts). Difficult to say if price will return to inside the flag or find resistance on the lower edge of the flags, we shall see. Typically a breach like this ...
- Jade Gate replied May 11, 2020
Well there's the pump north. Now let's see if we get the dump south. url Countries have also signed so-called “barter deals” with China, and they are “in an even more difficult position,” Yu said. Some Chinese loans are reportedly denominated in ...
- Jade Gate replied May 10, 2020
Saudi money about to hit the trading floor, then Frankfurt, then London
- Jade Gate replied May 10, 2020
Thoughts for this week ahead of contract rollover... bullish Mon-Wed, pushing price as high as poss in effort to avert another -ve plunge into rollover. Thur-Fri, consider shorts, subject to TA confirmation. Economies may be coming out of lockdown ...
- Jade Gate replied May 8, 2020
Two underlying issues for oil at present, imo…. 1. Contract roll over end of next week, market will either buy ahead of this event or get the jitters about the on-going lack of storage capacity and the potential to revisit May's negative territory. ...
- Jade Gate replied May 8, 2020
These were my trades before hitting the hay last night. Nice to wake up to the south traffic morning. The 200 sma (red, WTI 4H chart) is such a hot piece of TA. Booked them this morning (its now evening here)…. didn't like the look of either chart's ...
- Jade Gate replied May 7, 2020
Storage capacity is still a major problem, especially for WTI "That inventory overhang means there’ll be a lag in the price rally compared to equity markets, Khoman said. “In the immediate couple of weeks, we still expect significant volatility with ...
- Jade Gate replied May 6, 2020
Well this is going to be interesting. Price looks bid at this level (wicks on the 4H charts, both WTI and Brent, and resistance kicking in). Between NFP tomorrow and the June contract rolling over end of next week, will market sell off as the ...
- Jade Gate replied May 5, 2020
7 more business days until the June contract rolls over into July... url
- Jade Gate replied May 5, 2020
Now then, let's look at the weekly charts for both, and what do we see? Bull hammers on both. And not just hammers, but tweezer hammers.
- Jade Gate replied May 5, 2020
Last Friday, this pattern appeared on WTI and Brent - in technical analysis, these are called ascending wedges or bull flags. When price breaks above the horizontal of the triangular flag, it typically continues north. As price approaches the tight ...
- Jade Gate replied Apr 27, 2020
Nice example of support becomes resistance (or resistance becomes support being the flip side of that equation), or in this case, support tests twice at the resistance line and is rejected again, WTI 4 hour chart, blue line
- Jade Gate replied Apr 27, 2020
Buddy you need a new broker asap. Oanda is good.
- Jade Gate replied Apr 27, 2020
Higher time frames tend to rule over lower time frames. Price will likely try to find some support there, but more likely the higher time frame will push it further south to re-test the recent lows, and imo, that 4 hr support line is weak (as in ...
- Jade Gate replied Apr 27, 2020
The TA seems to confirm another round of south traffic, wicks on the daily charts, both Brent and WTI (a collection of wicks usually means price will head in the opposite direction to the wicks). "Oil tankers sit anchored off the coast of Long ...