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WTI Crude Oil Trading

I dont think its breaking out anytime soon, its gonna trade sideways and there is no point in even looking at the damn chart.
took small sell at 22.96
That which does not kill us makes us stronger
Quoting agazzi86
{quote} From where you get this data ? Is there any historical data for a view month or years a go?
This data comes from CMEgroup and list the current Future prices.

https://www.cmegroup.com/trading/ene...es_globex.html

As you might know CFDs are derived from futures or spot. Currently the spot prices (around $29.xx) are higher then the current future price (around $22.xx) which means were in backwardation. Normally spot and the current future price are somewhat inline but this month they aren't which means a heavy rollover.

More on future based CFD rollovers:

https://www.fortrade.com/faq/what-is...oes-it-happen/
persistence and determination alone are omnipotent
14 April 2020


Still looking for a bullish push above that $24 mark and then $28,

Price seems to have bottomed out at the bottom of this sideways range.
D1 chart still showing the inverse HnS pattern but may take some time to play out, PATIENCE.

Key levels for today
26.25
25.41
23.86
23.49
19.14


Green Pips
4&1 All Time Profit: $33,472
Quoting shiftyxxpc
I dont think its breaking out anytime soon, its gonna trade sideways and there is no point in even looking at the damn chart.
Based on what though?
4&1 All Time Profit: $33,472
Front contract (May) is more or less done proly, not much potential, July contract is already at 34 USD, so the move on the production cut was already made mostly, despite what most say. CFDs holders are in worse position, they will roll over to June, but the brokers will substract the difference, so you will not profit of it and will have effective opening price over 30..
Sacrifice is the price for glory
Quoting Ll1979
{quote} This data comes from CMEgroup and list the current Future prices. https://www.cmegroup.com/trading/ene...es_globex.html As you might know CFDs are derived from futures or spot. Currently the spot prices (around $29.xx) are higher then the current future price (around $22.xx) which means were in backwardation. Normally spot and the current future price are somewhat inline but this month they aren't which means a heavy rollover. More on future based CFD rollovers: https://www.fortrade.com/faq/what-is...oes-it-happen/...
So with this current price ($22) if i have buy 1 lot, my balance will get cut rollover 1x$7000 ?
Quoting agazzi86
{quote} So with this current price ($22) if i have buy 1 lot, my balance will get cut rollover 1x$7000 ?
IF you buy 1 CFD at current price your account will be subtract with $700 (most cfd broker 1 tick is 1 dollar -> 1 point = $100). In the end your balance is the same since the CFD is increase in value. But some future based CFD brokers will also charge you swaps (of the complete month) while you rollover. While those swaps aren't transparent in the way they are calculated i personally would avoid rollovers.
persistence and determination alone are omnipotent
Quoting Ll1979
{quote} IF you buy 1 CFD at current price your account will be subtract with $700 (most cfd broker 1 tick is 1 dollar -> 1 point = $100). In the end your balance is the same since the CFD is increase in value. But some future based CFD brokers will also charge you swaps (of the complete month) while you rollover. While those swaps aren't transparent in the way they are calculated i personally would avoid rollovers.
Ouh oke thankyou so much for the explanation, my broker dont have swap on oil, just rollover every month..
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#WTI / Weekly,H4 & H1
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Quoting Ayax.TSS
#WTI / Weekly,H4 & H1 {image}{image}{image}
i really hoping that 36 will come before rollover contract..
Maybe all member Opec & Opec+ need to stop production and make oil rare on the market will bounce oil to 41
Quoting moneymove
took small sell at 22.96
closed and reverse.
Buy @ 22.37
That which does not kill us makes us stronger
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It is very puzzling, but due to recent/developing events, right now.. EU etc... (some clue about restoring the production etc...)... all would indicate the RISE... But the CHART might suggest we should be somewhat careful... so I will OBSERVE for the/this week and then decide about how much to throw in the market....
Can you afford to take that chance?
CHEETAH LIVE TE Return This Year: na
Quoting Ll1979
{quote} IF you buy 1 CFD at current price your account will be subtract with $700 (most cfd broker 1 tick is 1 dollar -> 1 point = $100). In the end your balance is the same since the CFD is increase in value. But some future based CFD brokers will also charge you swaps (of the complete month) while you rollover. While those swaps aren't transparent in the way they are calculated i personally would avoid rollovers.
Hey, man, I have one pretty nooby question about rollovers you were mentioning. I am currently holding a long with 0.5 lot and I was charged a -1.03 Swap overnight, which sounds reasonable to me. Your post got me worried that my broker might charge me additional Rollover fee at the end of the month? If so, how much could that fee be? Because in that case, it makes no sense holding for too long.
Quoting auricforecas
It is very puzzling, but due to recent/developing events, right now.. EU etc... (some clue about restoring the production etc...)... all would indicate the RISE... But the CHART might suggest we should be somewhat careful... so I will OBSERVE for the/this week and then decide about how much to throw in the market....
+1 (besides some scalps)

Lots of variables to consider:

  1. COVID19
  2. Supply
  3. Demand
  4. Inventory capacity

It all comes down to timing.

persistence and determination alone are omnipotent
Quoting Ll1979
{quote} +1 (besides some scalps) Lots of variables to consider: COVID19 Supply Demand Inventory capacity It all comes down to timing.

  1. COVID19, some more optimistic news are spotted, in EU at least... (might suggest WTI up)
  2. Supply (were just CUT, quite good, and agreed) (might suggest WTI up)
  3. Demand restoring after production restores... linked to COVID19... (might suggest WTI up)

Will leave "Inventory capacity" for others to contribute

Can you afford to take that chance?
CHEETAH LIVE TE Return This Year: na
Quoting auricforecas
{quote} COVID19, some more optimistic news are spotted, in EU at least... (might suggest WTI up) Supply (were just CUT, quite good, and agreed) (might suggest WTI up) Demand restoring after production restores... linked to COVID19... (might suggest WTI up) Will leave "Inventory capacity" for others to contribute
Possible shake and bake? everyone expecting it to rally....think we need some patience...
4&1 All Time Profit: $33,472
Don't think I've ever seen this big of a price difference between consecutive month contracts in oil futures. When roll over to the June contract comes aroung, there's gonna either be a rip your face off rally, or a slow descent in price of June contract to the present/ jmho
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