US Crude Oil Inventories March 03, 2021

[JamesThatcher]

DOE Crude Forecast is -0928
DOE Gasoline is -2300
API Actual Crude is +7400
API Actual Gasoline is -9900

I'll use a forecast of -/+3000 for Crude oil
Will therefor use a forecast of = -5000 for 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!!

Recent History
Check out the move that API private report created last night here!
See charts here....
https://kenc4jbhyi.execute-api.eu-we...TAzLTAyO3I9TTE.

Last week's DOE report gave us a very small T1... small move!
See charts here...
https://kenc4jbhyi.execute-api.eu-we...TAyLTI0O3I9TTE.

Trade plan
Trade on any oil symbol USOil, Crude, WTI, Brent etc
We need both lines of data to arrive within a set time to trade. If it doesn't arrive within those times I won't fire a trade.

For platforms without slippage, I will set the timeout to 100ms
For platforms with slippage, I will set a timeout of 500ms


T1 = 5900 dev, with max conflict of 2500 on Gasoline
T2 = 6900 dev, with max conflict of 3500 on Gasoline
T3 = 8000 dev, with max conflict of 5000 on Gasoline

Additionally, we can set up another T1 trigger of +-5000 on Gasoline if Oil deviates by at least +-1750

[langtuvn]

With the current Covid epidemic, oil price increases is something which does not seem very relevant. In terms of technical analysis, I still evaluate, from now to the end of April, it is likely that Oil will drop below 60 $, the available area will be 53 $ - 60 $.