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Crude Oil (WTI)

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The 4 hours candles are 'walking above' the Bollinger.  a backtest of the past 2 years shows that this will almost certainly not end well for me.  Took the loss, and now I'm out of the position.  

Public service announcement: DO NOT FALL ASLEEP DURING BIG NEWS ON AN OPEN TRADE!

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8 hours ago, elle said:

I guess it's too late to say "never short crude" especially when the US & Iran are making noise !  Price in an upward channel short term  in my opinion.  Some overhead resistance. $60 has been a price @ which a lot of OPEC & others seem to want. 

Capture cr 1hr.PNG

inventories shortly, will find out if that was true or false

Capture cl ig.PNG

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The prelim data proved correct, inventories today  -12.8M, while the expected figure was  -2.7M.

WTI jumped to just short of 60 before pulling back.

image.thumb.png.9eab218975cfd2854efe4b722547c1d9.png

 

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Its crazy that its not rallying much more.  This is the biggest drawdown in inventory since Sept 2016.  Its a pretty big deal.  

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23 minutes ago, backwardation said:

Its crazy that its not rallying much more.  This is the biggest drawdown in inventory since Sept 2016.  Its a pretty big deal.  

Oil likes round numbers and 60 was also previous resistance so a likely place for sellers to congregate, whether there are enough sell orders waiting there as yet unfilled for another attack on 60, if the news events to come (US GDP and the G20 meeting) warrants it, remains to be seen.

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On ‎26‎/‎06‎/‎2019 at 15:15, elle said:

inventories shortly, will find out if that was true or false

Capture cl ig.PNG

 

Capture cr aug.PNG

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Been trading US Crude for a while - whilst Iran/global concerns are supporting prices in the short term ultimately demand concerns will push prices back down to 5000 levels.

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Guest crudeoli

yesterday i have taken an sell call in crudeoil at 3904 and exited from call 7:30 pm at 3880 

Total Profit : 26 Point 

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Yesterday I have taken a sell call in crude oil at 3873 and exited from the call Today 8:10 pm at 3849

Total Profit: 24

 

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