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Oilfutures

WTI Oil July futures. Buy. Divergence 30min chartI have drawn the 1hr chart here to show the spike in volume with the low at 1780. We can see a break below the tredline and a lot of volume come back in. Actually the 30 min chart also shows a nice MACDH divergence at this point as well. All in all this actually constitutes a higher swing low on the oil charts after a lot of divergence at the major low of 1735 on the daily charts. I am preferring to trade the July contract due to oversupply concerns on the June contract. Stop at 1770 target 2020 in the first instance.
NYMEX:CLN2020Long
by breakoutfakeout
OIL FUTURES, STORAGE and STRATEGIC PETROLEUM RESERVEFuture prices may be related to the fulfillment of the contract associated to them. In the case of Oil, the Future Contract Specs for WTI can be found here (www.cmegroup.com). So upon the contract Expiration (Last Trade date that can be found here: www.cmegroup.com), you will have to receive the Oil Barrels (1000 per Future purchased as per this contract in this case). This requires storage capacity, and given the current Covid scenario, this has been compromised (read more about this here: www.nytimes.com). It seems that given that the price of the futures are negative, it means that sellers are willing to PAY buyers to take the asset from them... so this might mean that it is cheaper for them to have someone take the oil from them and take care of the storage, than having to do it themselves (having to store more than they can, or even drop production to be able to prevent more supply from compromising current storage capacity and the costs associated with it). I think that Governments and other entities with high storage capacities might stand to benefit from this. They can get paid to take the oil from these suppliers, while also increasing their Oil reserves. In the case of the US, for example, the US has the Strategic Petroleum Reserve (en.wikipedia.org(United_States)), read more here (www.spr.doe.gov). If they acquire the oil barrels now, when things normalize, they will be at an advantage with higher volume supply than others, to sell. They will be able to regulate the Oil market and other markets that depend on it. Will be looking into it as it evolves. Thoughts?
NYMEX:CLK2020
by gotomars
1
WLLZoomed in on WLL we can see that downside risk is very limited and upside potential is epic. The 200 EMA 4 hour is at $4.34 200 EMA D1 is at $8.55 Price gaps from $28-$26 Price Gap from $26-$24 Price Gap from $14.67-$13.56 52 week high $31 Oil storage facilities will at full capacity by June if OPEC doesn't make supply cuts. Descending Triangle top line being tested repeatedly. Break out seem more likely. My bias is that the bankruptcy filing is already priced in along with the crash in the oil market. The price of this stock has been destroyed and as we already know smart money gets out way b4 retail. So the dump from $60-.29c is in my opinion proof that all these events are in fact priced in.
WLong
by Big_Mike716
7
Is it time to buy some OIL? EngineeringRobo warned you!Oil prices have plunged this year, as supply has jumped and demand has plummeted. They are down more than 50% just this month. On Monday, they took a new leg down, with West Texas Intermediate crude futures temporarily falling below $20. The last time Texas oil settled below $20 was in 2002. Smart EngineeringRobo traders know when to enter when to exit OIL. EngineeringRobo offers strategic trading entry and exit points, so you can preserve capital before markets tumble, and take full advantage as they start to rebound. At a glance, market timing indicators tell investors whether market conditions are right or whether it’s safer on the sideline. When it comes to investing, time is of the essence. Keep tabs on market conditions, explore investing opportunities and trade; all in EngineeringRobo! Sadly with the amount of wrong information out there, learning how to trade profitably alone has become almost impossible. Even most advanced traders are lacking some key tools that could unlock their potential. Thus, EngineeringRobo suits beginners as well as advanced traders because it gives basic to complex tools in a very progressive and easy to follow way. ---- Does EngineeringRobo compatible only with crypto? No, our products are not only compatible with Crypto, but with Stocks, Commodities and Forex as well. Get benefited by using our products for all of the above markets. Start your one week free trial today!
NYMEX:CL1!
by CryptoEngineering
4
cl, oil, day trading for Mar 23rd 2020Today we are again digesting some extraordinary moves and need to look at what is really happening. I am watching 20.50 as a very important lower level . I am not looking at targets today but more observation of what the activity of the day will be, the range is massive and there is plenty of room inside the range to have large trades so as long as inside this range no targets. Everything has been very sold and a technical bounce could happen at any time
TVC:USOIL
by alleytrader
cl, oil, day trading for Mar 13th 2020Today we are in a very big consolidation, and inside that have to be thinking back and forth so as oil moves up to red zone and or the first blue target I will be looking to short oil, this can be a day trade or a longer time hold, however much over first upper blue target the bear maybe dead and oil could take off so play safe if a swing trade. and always when a day trade. Also in the event a move down to red bottom will attempt a scalp back to red high.
TVC:USOIL
by alleytrader