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WTI Crude Oil Trading

Quoting Temujin
{quote} Will be around this area for some time as the draws are pretty substantial lately on inventories.
Inventories increaseby a lot, OPEC added productivity, all looking good. Lows been back tested again, oil heads towards $69 EMA50 monthly. No way!? Keeping my short running for a bit.
Quoting Jolita
{quote} Inventories increaseby a lot, OPEC added productivity, all looking good. Lows been back tested again, oil heads towards $69 EMA50 monthly. No way!? Keeping my short running for a bit.
Get ready for a bounce at $86
Be humble or be humbled.
Anyone interested in NatGas talk? Not much recent here.
Quoting Temujin
{quote} Get ready for a bounce at $86
$89 will do for me very well
Quoting Jolita
{quote} $89 will do for me very well
Hi Temujin, day later and we have touched previous support $87


US gov really trying hard to beat energy prices.
Quoting Jolita
{quote} Hi Temujin, day later and we have touched previous support $87 US gov really trying hard to beat energy prices.
Yes bearish now, higher rates and Fed liquidity drain also sucking the price out of oil. A bounce is coming. I'm averaging down on a 2X oil fund.
Be humble or be humbled.
Non farm payrolls for July in a couple hours. My opinion the number will be high enough to take us to $91
Be humble or be humbled.
Does anyone day trade CL futures for living?
Quoting Crudewizard
Does anyone day trade CL futures for living?
I’m also wondering this.
i switched to ES futures because quarterly contracts and AMP broker after covid rolls over oil contracts early making it impossible to trade oil futures evwry week. In fact some months you can only trade it 2.5 weeks ffs.
Are there any GOOD futures brokers out there that allow oil trading upto volume rollover at least?
Quoting Cools81
{quote} I’m also wondering this. i switched to ES futures because quarterly contracts and AMP broker after covid rolls over oil contracts early making it impossible to trade oil futures evwry week. In fact some months you can only trade it 2.5 weeks ffs. Are there any GOOD futures brokers out there that allow oil trading upto volume rollover at least?
Interactive brokers margin increased to 27k from 9.5k since ukraine war. So you are saying they rollover contract earlier at AMP? Their margin is 8.5k per contract which is reasonable.
Quoting Crudewizard
{quote} Interactive brokers margin increased to 27k from 9.5k since ukraine war. So you are saying they rollover contract earlier at AMP? Their margin is 8.5k per contract which is reasonable.
Yes AMP are ridiculous. Great for commissions, reliable and OCO but with OIL contracts as I said 2.5 weeks some months. Plus they haven't switched to TETON ordering system on sierra charts. Stage 5 brokers I think maybe the best to use.
Anyway Ill stick to ES for now. Heres some thoughts on todays USA closing session on OIL.
https://i.gyazo.com/093f5be4a240e381...a764e136bf.png
#NGAS / Weekly
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Quoting Ayax.TSS
#NGAS / Weekly{image}
You're brave, anyway thinking 90.994 will need to hold for now, WTI Cash.


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"Don't Shoot Me I'm Only the Piano Player"
Quoting Cools81
{quote} Yes AMP are ridiculous. Great for commissions, reliable and OCO but with OIL contracts as I said 2.5 weeks some months. Plus they haven't switched to TETON ordering system on sierra charts. Stage 5 brokers I think maybe the best to use. Anyway Ill stick to ES for now. Heres some thoughts on todays USA closing session on OIL. {image}
Do they give you a headsup that contract is about to expire so you can switch to next month contract earlier.
Not exactly no. Its about a week before volume rolls over. Meaning can only trade 3 weeks a month and if expiry falls on certain days it can mean 2.5 weeks only.
What broker do you use?
Quoting Cools81
Not exactly no. Its about a week before volume rolls over. Meaning can only trade 3 weeks a month and if expiry falls on certain days it can mean 2.5 weeks only. What broker do you use?
IB cant trade amount of lots as I used to. Increased margins by 3 fold lol
Here we go again, staying short for now. Precious still struggling with that 1800 level, retirement fund a bit nervous tho ; )

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"Don't Shoot Me I'm Only the Piano Player"
Quoting Crudewizard
{quote} IB cant trade amount of lots as I used to. Increased margins by 3 fold lol
damn. Maybe try Stage 5 Brokers.
Quoting yani38
Here we go again, staying short for now. Precious still struggling with that 1800 level, retirement fund a bit nervous tho ; ) {image}
Short is the way to go. Inflation numbers showed a good drop and most likely a big build in inventory tomorrow not a draw. $86 soon and then $80 will be a buy level.

Actually it is a tough one to figure out this time because we are at the 200 Day MA.
Be humble or be humbled.
Oil retraced this week to $94.35, looks we are pausing here at resistance.
Atm sl at $96 is safe, will look for short entry should return back to support, circa $90.00 and lower.
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