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CME Trading Challenge - FX, Equities, Energy, Crypto, Metals 81 replies

Attachments: High Impact Events Trading... Energy Edition
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High Impact Events Trading... Energy Edition

https://www.energyexch.com/#detail=118722

Volatility is expected in about an hour as crude, distillates, and gasoline are coming off record builds/draws. Here's the recap of exactly what happened last week. Remember, crude/heating oil/gas will all take the same direction. Last week the markets shrugged off the build in crude in favor of the huge draws in the other two.

Forecasts are usually difficult to make after such extreme data. I expect some significant deviation from forecasts. API data historically has not been a good predictor of the EIA data but it's worth considering. Here's how it came in yesterday:
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Extreme caution is advised. Wait for a direction, if one emerges. Otherwise, it never hurts to remain a spectator. Good luck!
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We must learn who is gold, and who is gold plated
Quoting EventsTrader
https://www.energyexch.com/#detail=118722 Volatility is expected in about an hour as crude, distillates, and gasoline are coming off record builds/draws. Here's the recap of exactly what happened last week. Remember, crude/heating oil/gas will all take the same direction. Last week the markets shrugged off the build in crude in favor of the huge draws in the other two. Forecasts are usually difficult to make after such extreme data. I expect some significant deviation from forecasts. API data historically has not been a good predictor of the EIA data but it's worth considering. Here's how it came in yesterday: {image} Extreme caution is advised. Wait for a direction, if one emerges. Otherwise, it never hurts to remain a spectator. Good luck!{image}
ET what do you think about this OPEC debacle? Tomorrow seems ripe for volatility!
Quoting yieldjunkie
{quote} ET what do you think about this OPEC debacle? Tomorrow seems ripe for volatility!
OPEC played this well. They knew going in that UAE and Mexico were going to be tough to convince to agree to the easing of cuts, as well as the DOC. They seem to have gotten Mexico on board (not an OPEC member), but UAE is standing firm (an OPEC member). Lots of drama.

OPEC delayed this expected drama until late on a Friday and will have the weekend (plus the Monday US holiday) to come to an agreement that won't send oil prices into a sell off. Very well played by OPEC.
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We must learn who is gold, and who is gold plated
  • Post #64
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  • Last Post: Jul 2, 2021 4:22pm Jul 2, 2021 4:22pm
Quoting EventsTrader
{quote} OPEC played this well. They knew going in that UAE and Mexico were going to be tough to convince to agree to the easing of cuts, as well as the DOC. They seem to have gotten Mexico on board (not an OPEC member), but UAE is standing firm (an OPEC member). Lots of drama. OPEC delayed this expected drama until late on a Friday and will have the weekend (plus the Monday US holiday) to come to an agreement that won't send oil prices into a sell off. Very well played by OPEC. {image}
As you said EventsTrader, they planned this move and was precisely played! Well done OPEC...
Grüße, Marias
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