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WTI Crude Oil Trading

Have the bulls got the legs ?
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All charts/ideas based on UK time zone
Quoting sponge
50 pips before breakfast ha, I think 26.03 is the key level atm {image}
Nice trading Sponge!
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persistence and determination alone are omnipotent
I have taken 129 points in WTI this morning, what a difference when it moves !

27.60 could be next test area imo

I'm all out now may trade this after if the wife lets me

Are the markets getting used to corona or are they just cheap ?
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All charts/ideas based on UK time zone
Can anyone make sense of this movement?
It' can't keep going up forever but it sure does seem that xD....
Quoting AmmaBoss
Can anyone make sense of this movement? It' can't keep going up forever but it sure does seem that xD....
Every time I try to make sense of it I lose money so I just stick to the charts
All charts/ideas based on UK time zone
Quoting sponge
I have taken 129 points in WTI this morning, what a difference when it moves ! 27.60 could be next test area imo I'm all out now may trade this after if the wife lets me Are the markets getting used to corona or are they just cheap ? {image}
Out of my trading account and into yours
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persistence and determination alone are omnipotent
Quoting Ll1979
https://www.youtube.com/watch?v=whX01qnoZkI
he said there is no demand and storage space is running out so why wouldn’t a big cut be possible??
I think we are at that point already.These are desperate times for the oil industry not sure I agree that a big cut is not possible
Quoting Kwame Freder
{quote} he said there is no demand and storage space is running out so why wouldn’t a big cut be possible?? I think we are at that point already.These are desperate times for the oil industry not sure I agree that a big cut is not possible
I guess he ment to say (based on the capacity of Saudi and Russia alone (both around 10mbps each)) they wont cut that much. Other countries need to contribute as well. Saudi and Russia wont cut 50% to make up a 10 mbps global cut. The US needs to cut as well if they wanna get Russia to get involved.
persistence and determination alone are omnipotent
Quoting Ll1979
{quote} I guess he ment to say (based on the capacity of Saudi and Russia alone (both around 10mbps each)) they wont cut that much. Other countries need to contribute as well. Saudi and Russia wont cut 50% to make up a 10 mbps global cut. The US needs to cut as well if they wanna get Russia to get involved.
i think there would easily be consensus in the US shale industry to do whatever it takes to fix this situation. They are hurting badly
Volatile day. One mistake and you could be in the hole several hundred points especially with the weekend upon us.
#WTI / H4
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WTI bulls hit target

S&P 2525 for some upside, bearish below

Anyone think the Gov's have over reacted to corona ?
All charts/ideas based on UK time zone
Quoting sponge
Anyone think the Gov's have over reacted to corona ?
moi
https://www.zerohedge.com/energy/put...-us-needs-join

this was always the end game, to get US oil producers to fall in line. i'm sure any deal reached would have a cap on US shale production and market share going forward. i would not hold any oil short positions over the next 2 weekends.
and just like that we are near $30. Putin may soon get his wish ($42)
Good evening,
nice run today

Hopefully the train will stop and rest a little bit to add long positions. Hmm, around 23,8 would be nice.

Good weekend @ all
Quoting Kwame Freder
https://www.zerohedge.com/energy/putin-responds-trump-oil-gambit-10mm-production-cut-possible-us-needs-join this was always the end game, to get US oil producers to fall in line. i'm sure any deal reached would have a cap on US shale production and market share going forward. i would not hold any oil short positions...
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Quoting Kwame Freder
and just like that we are near $30. Putin may soon get his wish ($42)
Actually because I mostly trade on D1 charts I keep positions opened for a long time sometimes but only for currency pairs. Because of the geopolitical situation I always close my CFD trades at the end of each day even if there is a very good possibility that the trend would continue.

I don't think that Putin wishes that oil will go only to $42 but I'm sure that all shale oil drillers would start to be a bit happy if it did reach $42 soon although that price is not high enough for most of them to make a profit but at least it would be a start
WTI went up 17% yesterday but intra-day trading was quite difficult because the price went all over the place too quickly. Today WTI went up $4.01 or 14% but in a much more orderly manner so trading was quite easier. I hope this will continue next week. Have a nice weekend everyone
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Crude oil prices have risen. Is this the supply already showing signs of decreasing? and the reason for the increase in crude oil swap is too strong
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