Jump to content

WTI to hit $26?


Guest ProTrader

Recommended Posts

Guest ProTrader

WTI is currently at $44 and I pedicted about a month ago that it will hit approx $26 before any major upside. I heard Golmans Sachs predicted $20. What do you think?

Link to comment

 I would not want to say one way or the other on this one.  There does seem to be a bit of a dual going on between OPEC and non-OPEC countries.  I think OPEC thought that the US would blink first but we that does not seem to be the case (yet).  Rig count is down and I expect to see it drop even further.  Production is due to drop whilst demand is expected to increase again next year.

 

I am still waiting for capitulation in the sector.  Yes there has been a reduction in drilling activity but I have yet to see any big names capitulate.

Link to comment

What has certainly caught my eye is the narrowing of the the spread between Crude and WTI.

I am betting it will widen a bit from here but I am keeping a close eye and will close the spread( long Brent/short WTI) if it narrows more than $1 more than the current $2.30 it is at now.

 

Any thoughts?

Link to comment
  • 2 weeks later...

Thanks Firing Squad.

I still want to be short JPY and EUR it's just a bit scary atm.

Took a small profit on GBPJPY long I had for a while . I want to be long but I see a lot more downside in the market short term.

The Yen seems to gain when the market gets hit, not that makes much fundamental sense. But it just keeps happening.

Will have to wait a bit for those trades.

I'm short the ASX200 and that's it atm.

Would like to get long WTI at some stage as I think its bottomed. Hard to do in this environment.

Link to comment
Guest FoxTrader

I agree Rich - but confidence seems to be returning? Today the spread between Brent and US is 6.47% - with Brent Crude at $ 49.23 - I would say confidence is growing?

 

Happy days

Link to comment
  • 2 months later...
Guest FoxTrader

hi  - just for interest's sake - I am eating my words of September hey - the future and unpredictability.......oil is falling like a leaf - I am wondering what the impact of the Paris Climate talks will be on OIL?

 

Happy days

Link to comment
  • 1 month later...

Sorry, , slowest reply ever.

Obviously the trading became so disconnected from reality that it nearly got to those $25 levels. Although today is proving just how baseless the markets are at the moment. There's no good reason that justifies the size of move today in crude. API numbers built etc. One hint of QE and the markets go bananas!

There's some interesting articles on zerohedge regarding the US fed possibly intervening in the situation with US shalers.

Markets just seem to be a product of government-level meddling with currency and market wars at the moment. Compounded by mass shorting and then covering and going long.Crazy volatility.

Link to comment

Archived

This topic is now archived and is closed to further replies.

  • image.png

  • Posts

    • The digital landscape is undergoing a profound transformation as attention, once a freely given commodity, is increasingly recognized as a valuable asset. Layer3 is at the forefront of this revolution, pioneering a new economy where attention can be owned, traded, and monetized   This innovative approach empowers individuals to monetize their engagement, providing unprecedented control over personal data. Simultaneously, advertisers benefit from transparent metrics that optimize campaign performance. Content creators are presented with diverse revenue avenues beyond traditional advertising, while the overall ecosystem experiences a more equitable distribution of value.   The implications of Layer3 extend across various sectors. Social media platforms, for instance, can leverage this technology to revolutionize user engagement and monetization strategies. Tokenomics play a crucial role in driving Layer3's economy, incentivizing participation and rewarding value creation. While challenges such as data privacy and market volatility exist, the potential benefits of Layer3 are immense   Anticipation is building as its native token $L3 is on Bitget Pre-market as users await its listing on the exchange. This milestone is expected to significantly increase the token's visibility and accessibility, potentially driving substantial growth and attracting new investors. As the countdown begins, the crypto community watches with keen interest, eager to see how Layer3 will perform in this new chapter.
    • I've been exploring the world of play-to-earn gaming recently, looking for something that's not just about endless grinding but actually offers a fun and rewarding experience. OGC really stood out to me because it combines gaming with a sense of community in a unique way. OGC isn't just a game; it's a platform where you can play, earn, and even help shape its future. You're not just a player; you're part of a community with a voice. The idea of earning crypto while playing games is exciting, but what makes OGC special is its focus on community involvement. Your feedback can directly influence the development of the game, which is a big deal. I've also heard that the OGC token is available for pre-market trading on Bitget. While I'm still getting to know the platform and its features, it's definitely something to keep an eye on. Has anyone else tried OGC? What has your experience been like? I'd love to hear your thoughts and any tips you might have.
    • I am anticipating the impact of this listing on Mongy. 
×
×
  • Create New...
us