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The CL Crude-analysis Thread
Started:December 17th, 2014 (02:33 PM) by tturner86 Views / Replies:126,055 / 1,755
Last Reply:12 Hours Ago (02:44 PM) Attachments:450

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The CL Crude-analysis Thread

Old June 9th, 2016, 09:02 PM   #1621 (permalink)
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WilleeMac View Post
John Kemp ‏@JKempEnergy 7m7 minutes ago

OIL MARKET is back in balance

COLUMN-Oil market is back in balance: Kemp | Reuters

Side note H/T Viraj at TopstepTrader - start watching rig count, price of /CL etc ie 50, 51, 52 etc

-William

I'm not sure how long that can last. The Saudis have been fucking the Iranians by tying up the oil tankers, but as we've seen with that other article, it's only a matter of time before new tankers come on the market and at that point the Iranians will pump HARD. They need money. They NEED it.

But this is stuff that is so far outside the day frame...

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Old June 11th, 2016, 01:38 AM   #1622 (permalink)
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Guys I'm kind of confused about which ticker I should be charting on TOS - /CL vs /CLN6. When there is a change of contract, there is a gap in /CL and I was wondering if my technical analysis be still accurate? I would prefer to chart /CL so that all my horizontal price levels are there all the time and I don't have to repeat myself every month.

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The CL Crude-analysis Thread-9izzwjv.png   The CL Crude-analysis Thread-iotqr9z.png  
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Old June 11th, 2016, 10:31 AM   #1623 (permalink)
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I do not use ToS for futures trading anymore but I still use it to reference some of my studies etc. That said here are my settings

Since ToS forces rollover on you, sometimes I will use the contract specific symbol - in this case /CLN6 (as of this writing ToS has not forced rollover - most likely next THU FRI 6/17.)

/CL contract expiry is the 25th and a decent +/- rollover date is the 18th note weekends etc Crude Oil Futures Contract Specs - CME Group

In ToS go to >> style >> settings >> futures >>

Price type: last
Daily close: settlement
Adjust for contract changes: no (or yes)
Show extended trading hours session: yes (or no)
Highlight extended trading hours session: no (or yes)
Show contract change events: yes (or no)

I have up a /CL 180d 1h chart and it does not have the gap you are showing

My 2cents on ToS is they are not a good futures platform nor a good futures broker

-William

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Old June 11th, 2016, 04:10 PM   #1624 (permalink)
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Thank you for your explanation! It is very helpful!

I'm from Canada so my options are very limited. Currently, I'm with trading212.com and getting killed by their 4.8 spread on /CL. I will be leaving them ASAP. I will be moving to a commission-based platform. I'm currently looking to move to Interactive Brokers. Do you have any particular platform that you recommend?

I tried tradingview.com for charting, although nice initially, it gets clunky when you add a lot of things to the chart. So, that's the reason I use TOS for charting.

Edit: I tried your settings and I still see a gap on 180D 1 hour chart (attachments)

Attached Thumbnails
The CL Crude-analysis Thread-prz00uz.png   The CL Crude-analysis Thread-caizhdi.png  

Last edited by goldenboy48; June 11th, 2016 at 04:15 PM.
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Old June 13th, 2016, 11:50 AM   #1625 (permalink)
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Futures Edge on FIO
I have paper money AND live charts up, /CL 5d 5m

Paper showing gap, live is not

My 2cents, use Sierra Chart or Ninja or? - they have better data feeds. The data feed is your choice. ToS does not have a good data feed. ToS is good for options, stocks etc

-William

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Old June 16th, 2016, 07:14 AM   #1626 (permalink)
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@ goldenboy48 on CL platform


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Thank you for your explanation! It is very helpful!

I'm from Canada so my options are very limited. Currently, I'm with trading212.com and getting killed by their 4.8 spread on /CL. I will be leaving them ASAP. I will be moving to a commission-based platform. I'm currently looking to move to Interactive Brokers. Do you have any particular platform that you recommend?

I tried tradingview.com for charting, although nice initially, it gets clunky when you add a lot of things to the chart. So, that's the reason I use TOS for charting.

Edit: I tried your settings and I still see a gap on 180D 1 hour chart (attachments)


Hi, I experienced the combination of Interactive Brokers TraderWorkStation (TWS) in combination with Sierra Chart as reliable and fast, especially in connection with a good datafeed and not too exotic instruments. CL always worked reliable.
TWS runs side by side with Sierra Chart and connects through Interactive Brokers API (with some annoying glitches caused by Interactive Brokers > look here).

A great option might be InfinityFutures as a specialized futures brokerage offering their InfinityAT in tight combination with Sierra Chart: Futures Charting Software

As a Canadian you also might want to look at CFD which are pretty common in Europe and Australia. Interactive Brokers does not offer CL as a CFD, but there is an option with LMAX and Sierra Chart look here, commission based and very tight spreads.

After working with some of the common platforms (TradeStation, MarketDelta, NinjaTrader, AgenaTrader and so on) I always came back to Sierra Chart and in the last 3 years I never looked back to another platform. Took me some time and work to fall in love with SC, but I experience SC as the fastest and most reliable in the retail market - and it never ever gets clunky...
You might look at some information I collected here https://futures.io/sierra-chart/39641-thoughts-some-findings-sierra-chart-software.html#post577777 - with some diagrams on the platforms architecture.
.

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Old July 1st, 2016, 10:08 AM   #1627 (permalink)
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Off Topic but we've talked about shipping here before so posting as I found it very interesting...

NYTimes :- The New Panama Canal: A Risky Bet, How a $3.1 Billion Expansion Collided With Reality

http://www.nytimes.com/interactive/2016/06/22/world/americas/panama-canal.html

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Old July 1st, 2016, 08:33 PM   #1628 (permalink)
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Off Topic but we've talked about shipping here before so posting as I found it very interesting...

NYTimes :- The New Panama Canal: A Risky Bet, How a $3.1 Billion Expansion Collided With Reality

http://www.nytimes.com/interactive/2016/06/22/world/americas/panama-canal.html

I don't see how that news may affect the price of the Globex or ICE WTI, or BRN. Cool article though.

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Old July 2nd, 2016, 12:17 AM   #1629 (permalink)
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I don't see how that news may affect the price of the Globex or ICE WTI, or BRN. Cool article though.

Your right it doesn't in anyway. Hence the

SMCJB View Post
Off Topic ... posting as I found it very interesting


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Old July 5th, 2016, 10:51 AM   #1630 (permalink)
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Quoting 
At least two tankers carrying gasoline-making components have dropped anchor off New York Harbor for nearly a week, unable to discharge their cargoes in the latest sign that storage for the fuel is running out, traders said.

Several tankers with gasoline have also been diverted from the New York region to Florida and the U.S. Gulf Coast in recent days, a rare move that underscores oversupply in the pricing hub for the benchmark U.S. gasoline.
...
"Tanks are full to the brim in New York Harbor," a trader said.

Tankers Drop Anchor off New York

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