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WTI Crude Oil Trading

Why is WTI dropping so much at this time of year? New to trading it.
if opec news doesn't push it pass $50, it will probably fall again
Quoting Kwame Freder
if opec news doesn't push it pass $50, it will probably fall again
WTI went up $2.46 today and did surpass the $50 price on my source chart. The high ATR produced a very good trading day.
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to me it hasn't broken the resistance in the $50 area yet but is trying its hardest to
WTI went up 71¢ today but it finally closed above $50 while the low ATR produced only good trades.
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Quoting Hutch
WTI went up 71¢ today but it finally closed above $50 while the low ATR produced only good trades. {image}
hello, would you mind sharing how to read your chart?
WTI went up 41¢ and stayed all day in a tight range above $50 that was a waste of time for traders.
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WTI went up $1.78 almost in a straight line today so it was a very good trading day.
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WTI went down 50¢ today but the low ATR produced a few good trades.
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WTI went up $1.11 today with an average ATR that produced quite good trades.
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Quoting Hutch
WTI went up $1.11 today with an average ATR that produced quite good trades. {image}
If you look at gasoline prices I think WTI will continue up. Demand is rising and crack spreads are wide.

That could all change if corona strikes hard enough though...
careful not to step in a pile of it
Quoting bulltrap
{quote} If you look at gasoline prices I think WTI will continue up. Demand is rising and crack spreads are wide. That could all change if corona strikes hard enough though...
Thank you for the information. The second wave of that darn corona virus is worse than the first so I doubt that it will beat it quickly. Once beaten though the energy market will surely benefit.
WTI went down 41¢ today with a below average ATR that produced very good trades.
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WTI went up 85¢ today with an average ATR that produced 1 average trade, 1 break even trade and a rare trade of 120+ pips.
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This rally in crude started back at the start of November when Russia announced they'd potentially support delaying the output taper. That was a strong signal that Russia (OPEC+) was going to play nice with the Saudis (OPEC) and it's turned out to be true. You've gotta wonder how much upside there is with demand still a big question mark for the foreseeable future. It's been on a tear:
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We must learn who is gold, and who is gold plated
WTI was totally the opposite of yesterday going down $1.64 with an excellent trade at the beginning of the session and another small trade.
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Quoting Hutch
WTI went up 85¢ today with an average ATR that produced 1 average trade, 1 break even trade and a rare trade of 120+ pips. {image}
Hutch, why would you have not entered short (and closed your long trade) after the first red down brick at the 2 positions I marked? In the live environment there was a down arrow AND the FxbayMACD was negative.
Thanks!
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Quoting Olarion1975
{quote} Hutch, why would you have not entered short (and closed your long trade) after the first red down brick at the 2 positions I marked? In the live environment there was a down arrow AND the FxbayMACD was negative. Thanks! {image}
This chart is the same live chart but with wicks. To enter into a trade you need both the arrow and the FxBay MACD to correspond. There was no down arrow but the FxBay MACD went slightly negative. Both of these bricks had a volume of zero so no wicks as indicated by the red up arrow I put in the chart. Because of the way Renko works it will always produce a brick even if there is a gap. In the second chart (natural gas) the first 6 bricks of 11 January had no volume. There was a big gap when the session opened but Renko still produced 6 red bricks before the first aqua brick.
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WTI went up 3¢ today with a very low ATR that provided only a 2 lousy trades.
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WTI went up 89¢ today with a low ATR that produced a break even trade and quite a good trade (second arrow for 50 pips).
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