UCO is the best. Calls 5 weeks out on every good support zone.

WTI Crude Oil Trading

Going to start falling again. Up 5 million barrels.

WTI Crude Oil Trading

Thanks for the book. Looks like we could be seeing a trend of mild inventory builds and draw downs.

WTI Crude Oil Trading

$72 is fine for me. Bought today at the NY close.

WTI Crude Oil Trading

The Non farm payrolls Friday also. We should have a good draw down based on the 2.5 million draw from the API data but the stock market in general is topping. Lots of layoffs reported during this earnings season.

WTI Crude Oil Trading

I'm seeing a break of structure in the H4 chart. Instead of $84 it looks like we are heading to $74.

WTI Crude Oil Trading

We could see $84 on this run. China is attempting to shore up their economy, the draw downs, inflation uptick and middle east conflict growing.

WTI Crude Oil Trading

The China GDP release will be a big mover for oil.

WTI Crude Oil Trading

Long. Let's hope we get a draw this week on inventories.

WTI Crude Oil Trading

DXY is at a 100 WEEK support. Dollar up and commodities down. Heading to $65?

WTI Crude Oil Trading

So yesterday the US dollar got slammed down on a 75 basis point rate cut projection for 2024 on the same day of the first inventory draw down for many weeks. I see $76 in a month or less, which is the 200 day MA resistance level.

WTI Crude Oil Trading

Nice draw down of over 4 million barrels on WTI. This is the bottom I think

WTI Crude Oil Trading

The hedge funds are short but this week or the next those production cuts should start showing draw downs instead of inventory builds every week.

WTI Crude Oil Trading

Unless there is a total market crash, i think that would be the bottom. $68 last week could be the bottom also. We will see the $76 resistance again. 14 week average.

WTI Crude Oil Trading

i really wonder if we will see $65 at the 200 WEEK average after CPI data tomorrow.

WTI Crude Oil Trading

Same here. I missed that brief $68 touch but got into some option contracts long at $69+. Very short term expire for a month out.

WTI Crude Oil Trading

Yes, I see the USD at the 100 WEEK average support line after being down 9 weeks straight. When USD starts rising. Gold, Oil, DOW Jones all down. In sync with all of it is the volatility index, at a yearly low. USD up, volatility uo, everything down ...

WTI Crude Oil Trading

There is some confusion on the output cut agreement among OPEC members but just the thought of more cuts will keep prices supported.

WTI Crude Oil Trading

I am so mad at myself. Focusing on $70. I missed a good entry at $72.63

WTI Crude Oil Trading

$70 is next. The stock markets of the world and economies are about to collapse. That is what $70 oil is telling me.

WTI Crude Oil Trading