Jump to content
Sign in to follow this  

US OIL

Recommended Posts

3 hours ago, AbDXB1345 said:

Hope everyone else had better luck with this trade, placed a LONG order on opening price at around 60USD, but the gap up opened me at 69.10, rised but not enough to hit my limit and then the market obviously recoiled and closed me out at 66.06 :(

yes the hazards of trying to second guess and front run the market, Brent put in a 1 minute candle of over $10, I think I read that a jump that size has not been seen for near 30 years.

  • Like 1

Share this post


Link to post

Outage length of time scenarios and their affect on price from Goldman Sacs;

 image.png.bf2e2aefc19d11302e099217884ecf17.png

  • Like 1
  • Thanks 1

Share this post


Link to post

Look at how nicely U.S. oil bounces off the Fibs on a weekly chart.  It's a thing of beauty.

2019-09-16_23-35-25.thumb.jpg.50d7be59d10276a6a70ed10bacf06e66.jpg

Edited by dmedin
  • Like 1

Share this post


Link to post

For those that care, the Saudi energy minister is scheduled to hold a press conference later today to provide details on the plant. This will be the first formal statement.

Sources are reporting that the damage was worse than initial suspected, and the expectation is that half of the lost production will remain offline for weeks to months.

Using the guidance provided by Goldman and shared by @Caseynotes, we could potentially be seeing $70 - $75.

  • Like 1

Share this post


Link to post

Saudi press conference set for today 18:00 UK time, reports that Aramco are signalling to customers of delays to loading, also a report yesterday that Japan contractually has first dibs on storage stocks.

  • Thanks 1

Share this post


Link to post

 

08:38 (SA) Saudi Arabian oil output will return to normal levels sooner than initially believed, according to sources with knowledge of Saudi oil operations - press - Saudi source: Saudi Arabia is near to restoring 70% of 5.7M bpd oil output loss - CTNews.pro

H1 chart;

image.thumb.png.919aa5efd5d3bfc9d97f3ccb6fd491d1.png

  • Like 1

Share this post


Link to post

Oil is rising again on reports that Aramco have asked Iraq for 20mil barrels of crude and have asked China to accept delivery of a heavier grade than ordered.

Daily chart;

image.thumb.png.9cbabcc06c2ca9df03778b8f7ee083cf.png

Share this post


Link to post

So oil is going up and down and up and down.

How does one actually trade it and make any money?

😕

Share this post


Link to post
3 minutes ago, dmedin said:

So oil is going up and down and up and down.

How does one actually trade it and make any money?

😕

 it's useful to firstly have a clear idea of the direction of a market, secondly it's a case of finding a potential target, and then thirdly (last) you would look for a good entry point if one presents.

trade selection needs to be done in that order,

if unsure of direction look no further, 

if direction is clear is there an obvious target? (us oil for example has just been stopped at a prior high) if not, look no further,

if direction is clear and a target is obvious is there a good entry point - a pullback that's turned to continue the trend or a breakout.

it needs to be done in that order not the other way round, many new traders just jump in on a breakout or even worse just on FOMO, then realise there no real clear direction or target, which means price isn't actually going anywhere with purpose but is just meandering.

 

  • Like 1

Share this post


Link to post

Difficult to call, oil looks trapped in a consolidation range since 17th Sept, tried to break down today with the indices but recovered as the indices found support and headed back to the daily pivot after the US market open.

H4 chart;

image.thumb.png.ca0c7a1e302d09beb720bfc9b8d7a55c.png

Share this post


Link to post

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Member Statistics

    • Total Topics
      13,136
    • Total Posts
      66,708
    • Total Members
      89,355
    Newest Member
    Firas
    Joined 29/11/20 02:08
  • Posts

    • The Covid Hoax continues. Everything centers on the PCR test and it's deliberate misuse. A PCR of 25 cycles identifies the infectious with a minimal amount of false positives, the more cycles you do the more false positives are included. Fauci himself has said 35 cycles and above most results are false positives for infectious material. Western countries are running the PCR test at 45 cycles which is mathematically known to give 90%+ false positives. Govt and health officials know this. Groups in Portugal have joined groups in Italy and the UK in starting legal action against the fraudulent misuse of the PCR test used to justify continuing lockdowns and social restrictions. Meanwhile new research from the US finds: “All of this points to no evidence that COVID-19 created any excess deaths. Total death numbers are not above normal death numbers. We found no evidence to the contrary,”  Just as has already been found in many other countries (see recent posts above for data from Sweden and Ireland).  https://web.archive.org/web/20201126223119/https://www.jhunewsletter.com/article/2020/11/a-closer-look-at-u-s-deaths-due-to-covid-19  
    • Doh! Maybe I should have thought it through a bit more aha. Not been having much luck instraday atm, so was going to try and take advantage of moves that last multible days, and so was wondering about overnight charges. But like you said, it's proably cheaper than the spread anyway. Cheers
    • SAT MORN 3AM NZ TIME MARGINS PUSHED WAY TOO HIGH CAUSING MARHIN CALL.. WHAT HAPPENED? 
×
×