RE:RE:Oil markets on the weekendGood summary Spanito.
I'd add this link too:
https://market24hclock.com/#_ The next link is is the best site for oil I have found. I am glued to it all day, watching live prices of WTI, crude, gas, stocks, but most of all, particularly the oil traders chat where oil traders around the world share info and post detailed technical analysis, 24 hours for the 23.5 hours that oil trades weekdays. You can create a free limited account to avoid pop ups, and customize the window as you like.
Go to the public chats icon on right side, scroll down to select Oil Chat - WTI and Brent, and detach the window. Watching and following these guys trade has helped me do as well as I did using my own simple style, and also kept me from stepping out blindly into traffic many times.
The damage to my account from this last rout since June 8 is my own doing due to my bullish bias on oil's strength due to incredible positive fundamentals in the face of negative sentiment and economic headwinds.
Many of these traders made out well during the slide as they follow price, not predict it, while changing directions in an instant. Needless to say they were mosty all short yesterday, getting short early on. A sidenote, many expect it to go up Monday. General market unknown.
It takes a while, like years and I am still learning, and some of these traders are way out of my league. Some offer great learning tips, some old professional traders, some are d!cks, with the odd crypto idiot passing through the chat for an hour bouncing off the wall. There is a learning curve to it, but if you are serious, it is an indispensable tool for real time trading, and also when to enter and exit longer term investing positions.
Like this board, with some experienced thinkers that often contribute relevant good ideas, I find it a very valuable information source that cuts through a sea of often useless investment noise.
https://www.tradingview.com/chart/?symbol=NYMEX%3ACL1%21 Spanito wrote: Hi Obscure1,
KEY NOTE: TIME ZONES - WORLD MARKETS
Personally my owh experience is that Europe & America typically rest on weekends. You have traders looking for any news that may impact direction on Monday, but in general traders in those two regions only do research on news. After hours markets are typically very low in volume, but can send clues on direction to a stock's open bell in America. Example what happened to Ford when they announced supply chain issues just a few days ago that sent a negative 4.5% plunge after hours, and then next day continued at the 4.5% loss. It also sent messages to GM and others in the automoble industry to drop as well. WTI, same thing when Brent goes up or down obviously you know that. Point is that Brent starts the show while we in America sleep.
Now, as for the Mddile East and Asia, these are economies that don't have the typical luxuries we are fortunate to have. Saturdays and Sundays are work days, but not their stock markets.
Now this is just a generalization. Anyways my point is that anything can happen to change direction on the weekend. With that being said the world on Monday always starts in Australia, Japan, China, Singapore, etc... down the time zone line (Sunday Night in America)
I find that China and Japan don't really move the needle that much for some reason. It is strange, but I am one that starts watching Markets at 10 p.m. E.T. on Sundays. Tyypically really slow until around 1 a.m. Eastern Time (Monday a.m.) when the markets start to show signs. India seems to be a very powerful player these days with the MCX exhange.
The price is in India currency so you need to convert oil to US dollars to see what's going with their buying or selling. I look at it every so often to see how they are playing the game with Oil.
https://www.mcxindia.com/ or just follow Investing.Com Brent Oil - LCO in USD
Anyways, I am not exactly sure what you really needed to find out about traders. All I was trying to state is that the World doesn't sleep when we sleep. Hope the below CNN link helps determine Market hours for Asia, Europe, & America. Just keep in mind that when OPEC, Russia, China, etc make decisions we are typically still sleeping. And then we wake up to a surprise news media coverage.
World Markets - CNN Link:
Asian Stock Markets - CNNMoney https://money.cnn.com/data/world_markets/asia/ Spanito
Obscure1 wrote: I have a lot of experience in certain areas of the market and virtually none in other areas. In the past, I have always stayed away from what I don't know. The generosity of those on this board that share information and strategies has got me thinking about expanding my horizons a bit.
Picking up a trading position on Friday afternoon like I did yesterday seems like a dumb move on my part. Traders typically don't want to carry positions over the weekend because so much can happen without the ability to buy or sell for 2 1/2 days.
Do the oil traders take a break on weekends because the stock and options markets are closed, or are the wheels always turning?