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WTI Crude Oil Trading

WTI, Asia price increase anouncement, created nice spike up, was lucky to sell the top of spike.

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Quoting Jolita
WTI, Asia price increase anouncement, created nice spike up, was lucky to sell the top of spike. {image}
Just curious what is your pink line? Whether is it some resistance line? Where is it based on and why?
Quoting Shantala
{quote} Just curious what is your pink line? Whether is it some resistance line? Where is it based on and why?
Pink line is manually drawn sell entry.
I was watching this move up, sold when price bounced of daily resistance. Oil likes its levels.

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More analysis:
https://www.tradingview.com/symbols/NYSE-WTI/
Quoting Kwame Freder
{quote} it got pretty close to $77 on my charts earlier this morning. may not get over $80 b by others,, y years end but seems heel bent on ending the year "Bullish"
Yes, certainly a good finish to the year, Kwame_Freder, almost 78.00, not complaining. The 'precious one' has had a bit of a bounce, I couldn't help but notice, 1825. Oh dear.

HNY to you and all, bye for now!

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"Don't Shoot Me I'm Only the Piano Player"
Some interesting charts/comparisons at macrotrends, for all the do or die goldbugs, in particular.

One random one:

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"Don't Shoot Me I'm Only the Piano Player"
Quoting yani38
Some interesting charts/comparisons at macrotrends, for all the do or die goldbugs, in particular. One random one: {image}

Interesting comparison, possible to share the link?
Thank you
Entered step lower

4h
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omicron may be cooling oil demand for now but i expect it will return over the next couple weeks and there will be another push above $80
Quoting Jolita
{quote} Interesting comparison, possible to share the link? Thank you
Sure, https://www.macrotrends.net/charts/stock-indexes
"Don't Shoot Me I'm Only the Piano Player"
Powering on, isn't it? I see 79.99 then 81.29 as temp resis, mid.

'Spot' pundits are chopping and changing their views like a Melbourne weather forecaster, seemingly, 1800 odd atm.


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"Don't Shoot Me I'm Only the Piano Player"
Sharing my view on OIL! OIL is in imminent break-up. A day closes above 78.8 and we will see 83 level very quick. MACD is also confirming it. I'm not in yet, waiting for the day close. GL!
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Quoting Kwame Freder
omicron may be cooling oil demand for now but i expect it will return over the next couple weeks and there will be another push above $80
well looks like we may get Over $80 even sooner than i expected. WTI is very bullish, would love another pullback before it breaks out but let's see how the week ends.
Yes, 80 reached.
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Quoting Jolita
Yes, 80 reached. {image}
Yes, well done. Bit of a pullback atm, think that's just about done for now short term. 79.45/50, then 79.95/00 coming up again. 78.82 right now cash bid.

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"Don't Shoot Me I'm Only the Piano Player"
All good, running with a trail from here, bullish.

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"Don't Shoot Me I'm Only the Piano Player"
could bounce from here or we get a further pullback to shake out weak longs. wouldn't be surprised either way. overall my sentiment is still bullish and expecting a push into the 80s
Quoting Kwame Freder
could bounce from here or we get a further pullback to shake out weak longs. wouldn't be surprised either way. overall my sentiment is still bullish and expecting a push into the 80s

Yes. Here we are again. Chart has help up well so far. Markets are erratic pending Fed Chair Powell Testifies in about 5 hrs. He will probably say something like he 'warns not to become too complacent with interest rates at recent lows, rises are inevitable in the current environment'. Big deal, we'll have to wait and see how specific he gets. WTI on a bit of a spike right now, 79.65 bid.

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"Don't Shoot Me I'm Only the Piano Player"
we may get a little pullback from this area. wouldn't mind it to reload on longs. will stay out and watch and see what inventory data does.
if and when we get above $90. i'm expecting some heavy selling may even drive it back into upper 70s. but for now enjoy the bull run!
Quoting Kwame Freder
if and when we get above $90. i'm expecting some heavy selling may even drive it back into upper 70s. but for now enjoy the bull run!
Yeah $90.00 would be a happy thing. Anyway yeah, we got to close to $88.00, a few days ago. Totally all good.

I note "The Precious One", the be all and end all, and its pundits have been riding the $1800 level like joy riders for what seems like an eternity, in market terms. LOL.

Bring on $92.00 re WTI Cash, still long : )
"Don't Shoot Me I'm Only the Piano Player"
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