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  1. #1
    Junior Member
    Join Date
    Feb 2021
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    Default US Crude Oil Inventories March 10 2021

    There are 4 main lines of data: -

    DOE Crude
    DOE Gasoline
    API Actual Crude
    API Actual Gasoline

    Remember that Oil is a commodity. More oil is bad for the market price and vice versa. A positive deviation means a SELL on OIL and a negative deviation means a BUY on oil! So we must reverse the triggers!

    Today’s forecasts are as follows :
    DOE Crude +0816
    DOE Gasoline -3467
    API Actual Crude +12800
    API Actual Gasoline -8500

    Therefore I’ll use the forecast of

    = + 6000 for Crude oil
    = - 6000 for Gasoline

    Trade plan
    Trade on - US Oil, Crude, WTI

    Crude and Gasoline Must deviate in the same direction, if Crude deviates by a minimum of 7000, then we can look to enter the market for some easy pips!

    We know that the market watches the API oil report for clues as to the possible outcome of The Crude Oil Inventories report today. Yesterday’s API showed another conflict between Gasoline and Crude. Let's hope that's not what happens today, as we don't want to take any trade if there's a conflict.

    Recent History...
    Check out the move that API private report created last night! See charts here...
    http://calendar.galaxysoftwareinc.co...021-03-09;r=M1

    We can see last week’s report had a huge deviation but also a huge conflict! The move was BIG but short-lasting, with few opportunities to get in on the trade. That's a dangerous situation, that's best avoided. See charts here...
    http://calendar.galaxysoftwareinc.co...021-03-03;r=M1


    Good luck James.

  2. #2
    Legend peat's Avatar
    Join Date
    Aug 2004
    Location
    Whanganui, New Zealand.
    Posts
    5,974

    Default

    I've been shorting oil last couple of nights. It seems high and turning to me.
    For clarity, nothing I say is advice....

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