Very good reasons for it to stay down for now. I believe though with all the bearish data it is holding up pretty well and all it might take is one positive data point for it to shoot higher.

WTI Crude Oil Trading

I see 54 as resistance on the daily chart. A few closes above that and there is potential to move higher. Closes below 54 put it back in the current 52-54 trading range.

WTI Crude Oil Trading

I think that crude just fell too hard and fast from the Saudi high. It went right through the previous 54-56 range straight down to 52 with very little pause or consolidation. Crude was due to bounce or consolidate a bit before it made it's next ...

High Impact Events Trading... Energy Edition

Back in the days before the internet and online trading I had a friend that was an oil pit trader. He told once he could see the order flow in real time and that made it fairly easy to see where prices were going on any given day. Not sure what is ...

WTI Crude Oil Trading

Good luck D. Turkey cease fire and GM labor agreement look positive to me.

Private Island Traders

This thread sure has been entertaining to follow lately.

WTI Crude Oil Trading

Above 27 has been rejected many times however I have a hard time wanting to short when the market seems to be looking for any reason to break out to new highs. I don't trade intraday though so everyone's analysis will be different.

Private Island Traders

I know where you are coming from. The hard part of trading pullbacks is if it is too deep you begin to wonder if it is actually the beginning of a trend change. Gold is just too hard for me to trade. It is sentiment driven and can change at any ...

WTI Crude Oil Trading

I have found that using a very simple system on longer timeframes and not listening to others predictions of where price is going works best for me. Less stress or second guessing trades.

WTI Crude Oil Trading

Do not: 1. Chase price 2. Trade with margin

Make your Trading Taboos "Do not"

Looking to start scaling into a long position. Waiting for Nymex close price to determine initial buy size.

WTI Crude Oil Trading

The ratio shows correlation. When it deviates from a baseline by a predetermined amount you place the trades and close them when it reverts to the mean. The baseline depends on you time frame. It could be just an SMA. Major caveats though. ...

Brent/WTI Hedging Strategy

A BRENT/WTI chart is on the homepage.

Brent/WTI Hedging Strategy

This strategy has possibilities to work. Years ago you could arbitrage EUR/USD and USD/CHF.

Brent/WTI Hedging Strategy

That makes sense. However today with equities up, supply data and FOMC minutes that could change in an instant. Today may not be the best day to predict. I'm waiting for end of day to evaluate.

WTI Crude Oil Trading

Front month expiration

WTI Crude Oil Trading

Oil seems to moving up and down with equities today. Not unusual. Still in a tight range on the daily.

WTI Crude Oil Trading

Haven't seen any news. May of been positioning during the last few minutes of pit trading.

WTI Crude Oil Trading

Yes, and that volatility is what creates opportunity.

WTI Crude Oil Trading

We are in the middle of a 52-60 range on the daily. The edge is patience. We are only a trade war news release or Trump tweet away from a big move in either direction.

WTI Crude Oil Trading