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Crude Oil WTI

Education excerpt: OPECThe Organization of the Petroleum Exporting Countries (OPEC) The Organization of the Petroleum Exporting Countries (OPEC) is a permanent intergovernmental organization with main goal to coordinate and unify the petroleum policies of its member countries. This pertains mainly to securing fair and stable pricing in the oil market; efficient and regular supply of petroleum to consuming nations and fair return on capital to the producing countries. The OPEC was established in Baghdad, Iraq in 1960 by five countries. Founding countries were: Iraq, Islamic Republic of Iran, Kuwait, Saudi Arabia and Venezuela. One year later the organization was joined by Qatar in 1961. After that Indonesia and Libya followed in 1962. United Arab Emirates joined the cartel in 1967 and Algeria in 1969. Then Nigeria became member of the OPEC in 1971, Ecuador in 1973 and Gabon in 1975. Few decades later, Angola joined the OPEC in 2007, Equatorial Guinea in 2017 and Congo in 2018. Ecuador suspended its membership in 1962. However, it rejoined the cartel in 2007. But then again in 2009 Ecuador withdrew its membership from OPEC. Similarly, Indonesia suspended its membership in 2009 and rejoined the cartel in 2016 only to leave it again in 2016. Gabon also suspended its membership in 1995. Although, Gabon reactivated its membership in 2016. Qatar was the last country to terminate its membership in 2019. Current members: 1. Iraq 2. Iran 3. Kuwait 4. Saudi Arabia 5. Venezuela 6. Libya 7. United Arab Emirates 8. Algeria 9. Nigeria 10. Gabon 11. Angola 12. Equatorial Guinea 13. Congo The OPEC's executive organ is called the Secretariat and it is run by the Secretary General. Secretariat was originally established in 1961. It also functions as headquarters for the organization. In the beginning, OPEC had its headquarters in Geneva, Switzerland for five years. However, OPEC's headquarters were moved to Vienna, Austria in 1965. Executive organ is responsible for implementation of all resolutions passed by the Conference. Secretariat also conducts research and fullfills all decisions made by the Board of Governeros. The Secretary General is the representative of the OPEC who simultaneously acts as Executive of the Secretariat. The Secretary General is electable role and its term last three years. Although, there is possibility to renew this term once. The Secretary General is assisted by the Office of the Secretary general and several other officers and staff members of the OPEC. The Office of the Secretary general helps the executive chief of the Secretariat to maintain efficient relations with relevant international organizations and governments. Another important organ of the organization is the Legal Office which supervises legal matters of the Secretariat and provides legal advice to the Secretary General. In addition to that, there is also the Research Division that consists of three departments: Data Services, Energy Studies and Petroleum Studies. The Research Division is responsible for conducting research with regards to the energy and related matters. Infrastructure and services are provided by the Support Services Division. OPEC Fund The OPEC Fund for International Development is international finance development institution that was established in 1976. It consists of 12 members: Algeria, Ecuador, Gabon, Indonesia, IR Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates and Venezuela. Its purpose is to provide financial help to the developing countries and support advancement in these low-income and middle-income countries. Disclaimer: This content serves solely educational purpose.
TVC:USOILEducation
by Tradersweekly
6
Today’s Notable Sentiment ShiftsHigh-Beta – AUD, CAD and NZD benefited from rising commodity prices on Tuesday, as markets set aside concerns about the spread of the Delta coronavirus variant. The notable outperformer in the commodities complex was oil prices, with WTI approaching $68 per barrel, up almost $2.50/+3% on the day. Indeed, following today’s strong performance in WTI, TD Securities noted that: “With the impact on demand fueling chatter that OPEC+’s next monthly output hike could be delayed, and China’s “Zero-Covid” strategy appearing to have quickly contained the outbreak, crude oil could once again have a solid footing to challenge the $70s.”
OANDA:WTICOUSDEducation
by thunderpips
5
Crude Oil Spreads: A Quick Intro.Spreads are complex instruments. This is just an introduction and some ideas to get our brains ticking over. I had started writing a guide to understanding these three types of spreads, but it just got a little long. It might be easier to do it this way: What do you see above? Here are some observations to get started: 1 All spreads topped out well before June Crude Oil topped out. From about 17th Feb, those spreads stopped gaining. Could spreads be a way to take a contrary position as a trend exhausts itself, and have a little room for error? It certainly is here (although not always the case). 2 Look at the ATR for each. Spreads show lower volatility. 3 Correlations (the CC shows the spread correlation to the underlying June contract). Correlations seem strong during a trend then do their own thing at other times. Change creates opportunity. Constant correlations are not as fun. 4 Basic spreads: bull and bears – are directional. That is, they move closely with the underlying. More complex spreads, like the fly and condor seem to be suited to shifting sentiment along the forward curve. 5 Flies and condors are very similar. The condor tends to have a little more volatility than the fly. In this case, it’s not much. - It can be a complex subject, worthy of something closer to a book, than a comment here, but it’s a start. Just a warning – going down the spread trading path might change everything. - A couple of futures markets where flies and condors are often traded: Crude, Natural Gas, Grains, Eurodollars (and most other STIRs). Options - that's a totally different chat....
NYMEX:CLU2021Education
by TheTradarien
You Can't Predict Which Trade Will Succeed. How To Deal?This is why I prefer to open many small positions - you never know which one will be successful! --- How to understand price action. It is very easy to read price action if you have a reference point. These support/resistance lines are there to help you read where the buyers and sellers are likely to make a stand. You can also think of these indicators as moving pivot points . MasterChartsTrading Price Action Indicators show good price levels to enter or exit a trade. The Blue indicator line serves as a Bullish Trend setter. If your instrument closes above the Blue line, we think about going Long (buying). For commodities and Forex, when your trading instrument closes below the Red line, we think about Shorting (selling). For Stocks, I prefer to use the Yellow line as my Bearish Trend setter (on Daily charts ). A stock has to close below the Yellow line first, then rally towards the Red line and top out there. This is where I would short it. Be sure to hit that Follow button! Please find me on social networks via the link on my profile page for more ideas from @MasterCharts!
NYSE:WTIEducation
by mastercharts
2
Bitcoin set to smash ATH in the next 8 to 12 WKS thanks to......Astronomical returns possible: Bitcoin set to smash ATH in the next 8 to 12 WKS thanks to "Big Oil" signal after SPX setting ATH's >> WK 16 DEC 19 63% 8 WKS >> WK 25 SEPT 18 437% 11 WKS >> WK 28 JAN 13 1383% 10 WKS. The only time signal did not work was when bitcoin MACD histogram was in red. CAVEAT: WTI Crude Oil Weekly MACD line (source HIGH) has not yet closed >0. Big Oil signal still needs to confirm. NOT ADVICE. DYOR.
TVC:USOILEducation
by Felix000
CRUDE OIL (WTI) Weakening Market & Consolidation Crude oil is becoming weaker and weaker. though many fundamentalists promised a quick return to "normal" price levels after the lockdown removal, it looks like things are much more complicated than that. if you are a swing trader and you are looking for an opportunity to jump in in the market, I guess it is not the best moment. for the entire month, we could not set a new high. ATR drops as crazy and volatility is missing:) let the market start moving. let it pick the direction and then just act accordingly. swaps are now very expensive on oil, so no need to incur these losses.
FX:USOILEducation
by VasilyTrader
13
If BTC is Steady, We Are Steady in Small Caps BoiCheck out the latest blog post for more boi: www.derzzycharts.com Same deal, short weakness, buy strength. When BTC is giving the market room to breath, we own altcoins. It works every time. We don’t need to know why, we just know that it does. So what did we do today? We looked at the top 500 coins, and picked some charts to buy. Let’s have a look. Here we have WTCUSDT and FTMUSDT. You don’t even need to know what they are, just that they have strong charts. That is the beauty of technical analysis, it could be anything! It could be corn, it could be soybeans, it could be any altcoin out there. If the chart looks good, we put in an order. We bought WTCUSDT earlier, but we are waiting for the pullback in FTMUSDT. So how did we pick these out of all of the charts? Good question… well we didn’t want bearish divergences on the RSI, we wanted a good cloud, and a MACD that had room to run. A lot of coins have pumped, but you don’t want to hold bags in crypto. So you have to pick positive charts. Don’t chase bro! For a look at the indicators and the decisions, see the linked post. Happy Trading! Brandon Anderson brandon@derzzycharts.com @derzzycharts www.derzzycharts.com
BITSTAMP:BTCUSDEducation
by derzzycharts
Why Knowledgeable Traders Lose MoneyI've been trading for 20+ years and I believe I have almost seen it all. I've had big winning trades, and huge losses. Some of my biggest wins came when I was a beginner aka fomo trader, and my biggest losses came when I become more knowledgeable of the market. My most consistent trading came in my latter years when I gained experience and felt real pain, and I would like to share what I observed. I believe most retail traders naturally follow the same path if they stay solvent and interested enough to stick through it. 1. Beginner trader (1st year trading) : These traders generally tend to be profitable. You can call it beginners luck, but it's what gets most people to learn more about trading and put them into the 2nd class of traders (knowledgeable traders), which are the losers in the market. You can recognize a beginner trader as they believe in generalities. Those who believe "stonks only go up bro", yes they likely outperform you. It's only a matter of time before they don't, but this is where they get their confidence to invest more. 2. Knowledgeable trader : I believe most Tradingview users fall into this category. They likely had some great luck starting out by fomoing into a stock that was in an uptrend which made them want to learn more about trading, and with this newfound knowledge and tools like Tradingview they can't figure out why they are consistently losing money. They theorize in the back of their mind that the more they learned, the more they lost, and they are correct, but it's hard to accept this realization. The frustration they feel only leads to further losses which results from deleting stop losses because they're sick of losing. These are traders who upgraded their account to margin trading and they now have the awesome ability to short stocks. They imagine catching the top of a trending market and riding it all the way down. It's a fantasy I believe we all shared at one point. Instead of trading with the trend, they trade in the direction of their emotions, namely disbelief. They believe stocks are too oversold or overbought, and they look for setups to match their bias. In general, they are against the long term trend which makes their amazing setups likely to fail. When they're stuck in a trade, they resort to media and other traders to give them hope that the market will go their way. In general, the media is only adding to the traders disbelief and giving them false hope. Most traders fit into this category, and they are part of the reason for these extreme trends. They consistently get squeezed by going against the market, adding fuel to the trend. High frequency traders / institutions make a killing running these traders out of the market, while the beginner traders enjoy the gains from their fomo trades which are generally aligned with the trend of the market. 3. Experienced trader : These are traders who have been trading for 4 or more years and have stayed solvent enough to make it through phase #2. They have likely lost a lot of money trying to catch reversals and they has since realized most money is to be made in the middle by trading with the long term trend within the context of larger patterns. They also know how to take a stop loss and see it as an opportunity for a new trade. They realize they are wrong at least 40% of the time and they are at peace with it. They still get frustrated when a trade doesn't go their way, but they know this is a game of risk and reward, it's not about fortune telling. They know they will generally feel more pain if they don't take their stop, and while they may delete their stop in their weakest moments, the largest majority of the time they take the stop or exit with a loss before the loss becomes greater. The hardest part is knowing it's okay to be wrong, and it's okay be to be stopped out 4 or 5 times in a row and not be a failure. They see themselves as risk managers, not traders. They know there is no such thing as oversold or overbought, and have likely removed stoch and RSI indicators as they cause fomo to bet against a trend. They know nothing is oversold or overbought unless price reaches an area of extreme on a higher time frame chart or price is contained inside of a large well defined pattern that at least appears on an hourly chart that spans for days if not weeks. This analysis will likely not help anyone as emotions overpower logic 20:1. Most traders need to feel enough pain before they transition from phase 2 to phase 3, it's not something that can be taught. They need the financial and emotional scars. They need the natural feeling of pain in the moment they feel they might delete their stop loss or bet against a trend when the price is not at strong resistance / support in a longer term pattern. In general human behavior, most people have a plan but the plan is usually thrown out the window in the moment a decision has to be made. The purpose of this analysis is just to let you know that it's okay to be in the middle, and if you can at least have the control to trade with smaller amounts when you're in phase 2, you'll one day likely make it to phase 3. This analysis wont make anyone transition from a phase 2 to a phase 3 trader, I mainly wanted to make it clear that your emotions will likely continue to rule your trading, even in phase 3, the big difference is that you'll naturally feel pain before you make a mistake a phase 2 trader will make. Embrace your scars and the journey ahead.
CME_MINI:NQM2020Education
by ttrending
51
Update - My post April 2, 2020, "Bitcoin & Big Oil" Update - My post April 2, 2020, "Bitcoin & Big Oil" . First point of interest - Using MACD of USOIL (WTI) point before precipitous decline. See what happened when bitcoin closed month end above $365 NOV 2015 and thereafter. Notice in each case c.55% drop before rise. Bitcoin has yet to close out month above $9084.7. Second point of interest - Monthly Dollar Index if close below 98.82 (Mid point of volatility Mar 2020) see what happened to SPX when closed below 95.48 (Mid point of volatility Aug 2015) March 2016. NOT ADVICE. DYOR.
TVC:USOILEducation
by Felix000