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Oil - Crude (WTI)

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OIL_CRUDE trade ideas

A prophecyHearken, O ye seekers of wisdom, for I have communed with the gods of trade. Verily, they have once more cast their vile spittle upon me. Mine eyes, enshrouded with their unclean saliva, were opened unto the truth. Lo, they spake unto me, and in mine accursed plight did reveal unto me a realm of boundless possibility—a vast ocean of failures and improbable designs. Henceforth, I know the one true verity. Fear not, for this vision is no idle fancy but a prophecy divinely ordained. Be it known: this is not counsel for thy investments. I am but the humbleth clown of the realm.
TVC:USOIL
by GuillaumeRpn
Oil updateNot much to update on oil as its doing exactly what it was setting up for in January. I have a swing trade from the high, one of my targets should be reached by the end of this month. When price reaches my targets and a long set up appears I will take it. for now I'm just riding my shorts. All these levels I marked out in December and broke this move down. Price has been respecting all my levels for a month, I'm locked in. There is a lot of potential for a further decline in oil prices but ill attend to it when it gets there. I have a lot of trades running that I don't post. There is a lot more detail and understanding of price action that goes into catching these pinpoint entries. my work speaks for itself, its less about profit and more about understanding price action. The profits will follow with good trade management. let's see how it goes.
TVC:USOILShort
by Golb
Crude remains under pressureCrude oil spent most of Wednesday morning drifting lower, giving back yesterday’s gains and more. Approaching midday, European time, front-month WTI was hovering above $72 per barrel, which, while off over a dollar from Tuesday’s high, was still a couple of dollars above the lows from last week. The daily MACD has flattened out, suggesting a small decline in upside momentum. On top of this, oil is nowhere near back to ‘oversold’ levels which would indicate a buying opportunity. Fundamentally, nothing major has changed this week, other than the unexpectedly-large build in US crude stocks as reported yesterday by the American Petroleum Institute (API). President Trump’s ongoing tariff programme may weigh on economic activity. The US Federal Reserve has said it is in no hurry to cut interest rates further, a point repeated yesterday in Fed Chair Powell’s testimony to the Senate Banking Committee in Washington. Mr Trump’s determination to increase US oil production could also add to supply, which is price-negative. Meanwhile, global demand growth has been falling thanks to China’s severe economic problems. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
TRADENATION:WTI
by TradeNation