Longing 51.10 think ill be okay holding through weekend, not maxing leverage or anything.
SL 49.1x
SL 49.1x
3
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DislikedLonging 51.10 think ill be okay holding through weekend, not maxing leverage or anything. SL 49.1xIgnored
DislikedLonging 51.10 think ill be okay holding through weekend, not maxing leverage or anything. SL 49.1xIgnored
Disliked{quote} 51 support looking strong? I wouldnt advise futures since if 51-50 breaks shits gonna get extremely messy, but gl everyone!Ignored
Disliked{quote} Indices recovering a bit so oil moves in line with equity. Hope you make some money.Ignored
Disliked{quote} 51 support looking strong? I wouldnt advise futures since if 51-50 breaks shits gonna get extremely messy, but gl everyone!Ignored
Disliked{quote} Pussy'd out and filled 3/4 of order, ill take my few pips and sleep abit more easyIgnored
Dislikedis there a way to change your user name ? i think i have had my fun with this one . lolIgnored
DislikedNothings changed imo. Sellside ONLY to 50.45. FROM 53.80-54.40 zone (SPOT).Ignored
Disliked{quote} Definately, Here i my thoughts visually, any retest of that point A i will look for bearish signal there with stops near point A provided that the blue MA stay below the green MA..... Im just waiting to see how we open to check out some numbers for the week and Monday... Green Pips {image}Ignored
Disliked{quote} Short bias and outlook seems to be intact, price did catch a bid but didnt push high enough for my short to get filled, but just looking at Daily range, i am long here 50.09 SL 48.86 Tp Open... Im still of the opinion we dropped too quick too soon following the previous bullish run, so expecting some correction/ consolidation before we can look tot challenge those 2018 lowsIgnored
The barrel of West Texas Intermediate (WTI) lost nearly 16% in January and extended its slide on the first trading day of February as markets continue to price the impact of the coronavirus outbreak on the global oil demand. According to Bloomberg, crude oil consumption in China has declined by nearly 20% due to the outbreak.
Demand outlook weighs on WTI
The WTI hit its lowest level since January 2019 at $49.91 in the last hour and recovered modestly to trade around $50.30, where it still losing 2.4% on a daily basis.
In the meantime, Reuters on Monday reported that the OPEC and its allies, OPEC+, is considering to deepen the oil output by 500,000 barrels per day to offset the negative impact of the dismal demand outlook on prices. Nevertheless, the WTI's positive reaction to this headline remained short-lived, suggesting that markets don't think that this measure will be enough to balance the market.
Earlier in the day, Analysts at Citi Group announced that they lowered their oil price forecast for the first quarter of 2020, citing a drastic shift in the economic outlook for China and globally amid the coronavirus outbreak.
Markets will be paying close attention to OPEC+ headlines as the group is reportedly planning an emergency meeting next week.