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WTI Crude Oil Trading

Quoting yani38
Selling the precious one 1814 on stop, currently 1816. Holding WTI for the moment.
bb 1/2 1805 with a tight trail on the rest, not complaining. The mm's seem well placed, flushing out a lot of short coverers @ 1810, an ominous sign. Australia 200 has been trashed, lots of buying around for AUD/USD earlier. See how it goes from here, I guess. WTI 110/11. Precious 1804/5.

PS No probs J, hope the trading is is going well. : )
'Those are my principles, and if you don’t like them… well, I have others.'
Good feeling when levels respected
Support on recent bullish trend broken, currently @ 106.46, Biden is pushing, Putin starts negotiating, who said trading is easy...
Exactly I think WTIUSD will be at $100 till friday.
Quoting jatin55
Exactly I think WTIUSD will be at $100 till friday.
Welcome jatin55, nice to see new members joining in. All the best!
THURSDAY 30th JUNE, US OPEN - BEAUTIFUL SHORT DECISION
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Wise decision Cools. Well done!

I will be waiting for 102ish next.
Oil should continue lower according to my analysis.
Quoting Temujin
{quote} It will bounce at $100 again and then break right through. Another rate hike is coming July 13. After that another and another. The market knows the Fed is pulling liquidity at the same time and oil is a major target to pull down.
Indeed it is major concern and target. Without knocking fuel prices down, inflation will go through the roof. Naturas gas plummet over 13% today. Nice surplus.

Are you still holding to your short?
I am.
Quoting Jolita
{quote} GOLD is holding on 20 EMA monthly chart, clear double top (I call batman). I would only sell if goes below 1800. Remember long term sentiment is bullish. Current weakness is due to gold sanctions on Russia. In Russia gold is major asset, they will fnd a way to bypass the sanctions. Of course only my sentiment. I've closed one of my long position, holding one more. Good
Hi Jolita, I am not that optimistic, maybe I understand the news differently... I think they never made that clear for the public what they did with the Gold ban...
They stopped Russia buying gold or they put sanctions to deny Russia pay with gold... Because pretty sure since 1999 Russia is probably the biggest gold buyer every year but we also know they produce a lot of refined gold so it's not easy to jump on conclusions .
The cost of gold mining is rising day after day but the price it's not , we can't predict are they gonna stop mining until chemical price will be back to normal or they will try to sell gold higher. Have a good day!
Nice bounce off $106, I see $111/12 first test this run up.

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'Those are my principles, and if you don’t like them… well, I have others.'
Quoting yani38
Nice bounce off $106, I see $111/12 first test this run up. {image}
Then back to $100 in 2 weeks.
Be humble or be humbled.
Quoting yani38
Nice bounce off $106, I see $111/12 first test this run up. {image}
Quoting Temujin
{quote} Then back to $100 in 2 weeks.
A bit far away, working hard for me for me atm, let's wait and see. Good luck.

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'Those are my principles, and if you don’t like them… well, I have others.'
Quoting Stiv
{quote} Hi Jolita, I am not that optimistic, maybe I understand the news differently... I think they never made that clear for the public what they did with the Gold ban... They stopped Russia buying gold or they put sanctions to deny Russia pay with gold... Because pretty sure since 1999 Russia is probably the biggest gold buyer every year but we also know they produce a lot of refined gold so it's not easy to jump on conclusions . The cost of gold mining is rising day after day but the price it's not , we can't predict are they gonna stop mining...
Hi Stiv,


They didn't stop Russia buying gold but banned selling. Gold profits contribute largely to Russias economy, G7 ban is in place to stop the country supporting war in Ukraine.

Some data:
Russia, after Switzerland (top) is the second largest exporter of Gold.
In 2020, Russia exported $18.7B in Gold. The main destinations of Russia exports on Gold were United Kingdom ($16.9B), Switzerland ($693M), Kazakhstan ($424M), Turkey ($380M), and India ($96.6M).
Russia earned $15.2B in gold export in 2021.

Last week G7 banned Russian Gold imports.
EU is following similar steps, therefore Gold lost - 2% on Friday.

https://www.gov.uk/government/news/u...n-gold-exports

Who is buying Gold from Russia?

  1. Switzerland: US$92.3 billion (23.4% of total gold imports)
  2. India: $55.8 billion (14.1%)
  3. United Kingdom: $53.7 billion (13.6%)
  4. China: $43.7 billion (11.1%)
  5. Hong Kong: $29.1 billion (7.4%)
  6. Singapore: $14.5 billion (3.7%)
  7. United States: $13.9 billion (3.5%)
  8. Germany: $11 billion (2.8%)

https://www.reuters.com/markets/comm...ic-2022-06-27/

Will this lower gold price? Doubt it, as demand will increase, similar what happened after oil sanctions where implemented.
Russia can sell the metal to China, India and Africa.

Good trading! Thanks

The power of the Fed is like an economic black hole. When they run off their balance sheet and drain liquidity all commodities are affected. December is the season for gold. I've read in December buy at any price, seasonality.
Be humble or be humbled.
Close call, but all good. Happy 4th July celebrations.

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'Those are my principles, and if you don’t like them… well, I have others.'
Looking skittish in NY. Sold that pop to $110. Selling the rips not buying dips.
Be humble or be humbled.
Nice M, falling knives as Saudi Arabia can increase productivity if needed
Resistence 116 slammed, guess 100 first.
Quoting Temujin
Looking skittish in NY. Sold that pop to $110. Selling the rips not buying dips.
Amazing! Hope no one got hurt.
I was holding my trade from 114.

US back after holiday, sale re-assumed, is this what caused this drop?
At work, I wasn't following today's news.
Guys,what happen' today with Crude?
Quoting Jolita
Home work done. Not far from Rising wedge and a big one. Fingers trade safe {image} Wedges and how to trade https://www.babypips.com/learn/forex/wedges
Finally! Long waited tp hit at 97.40.
Happy pips
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