Decentralized Oil Trading (WTI)

Decentralized Oil Trading

Decentralized Oil Trading (WTI). Discover the benefits of decentralized trading, technical analysis for WTI and direct access to the trading platform.

Decentralized oil trading allows trading the WTI without a broker, keeping complete control over your money.

What are the benefits of decentralized oil trading (WTI)?

Decentralized oil trading, particularly with West Texas Intermediate (WTI), offers several benefits:

  1. Increased Transparency:

    Decentralized platforms often use blockchain technology, providing a transparent and immutable ledger of all transactions. This transparency helps reduce fraud and ensures all participants have access to the same information.

  2. Reduced Intermediaries:

    By eliminating intermediaries such as brokers or banks, decentralized trading can reduce transaction costs and increase the efficiency of trading processes. This can lead to better pricing for traders.

  3. Enhanced Security:

    Blockchain technology used in decentralized trading platforms provides a high level of security. Transactions are encrypted and decentralized, making it difficult for hackers to alter the data or steal information.

  4. Accessibility:

    Decentralized trading platforms can be accessed globally, allowing participants from different regions to trade oil without the need for a centralized authority or compliance with specific regional regulations. This can increase market participation and liquidity.

  5. Faster Settlement Times:

    Traditional oil trading can involve lengthy settlement periods. Decentralized trading platforms can significantly speed up the settlement process, as transactions can be executed and verified almost in real time.

  6. Reduced Market Manipulation:

    The transparency and decentralized nature of these platforms make it harder for single entities to manipulate the market. All transactions are visible on the blockchain, which can deter manipulative practices.

  7. Improved Efficiency:

    Smart contracts can automate various aspects of trading, such as the execution of trades, settlement, and compliance checks. This automation reduces the need for manual intervention and speeds up the trading process.

  8. Cost-Effectiveness:

    By cutting out intermediaries and reducing the need for extensive paperwork and manual processes, decentralized trading can lower the overall costs associated with trading oil.

  9. Anonymity and Privacy:

    Decentralized platform trading can offer greater privacy and anonymity for traders who prefer to keep their trading activities discreet. This can attract participants who are concerned about privacy.

  10. Global Market Access:

    Decentralized platforms are often accessible from anywhere in the world, providing opportunities for investors and traders from different regions to participate in the oil market without the constraints of local regulations or market access issues.

Overall, decentralized oil trading can bring about a more transparent, efficient, and secure market environment, benefiting traders and the market as a whole.

Decentralized Oil Trading (WTI) – technical analysis

WTI – The current situation:

The current price of West Texas Intermediate (WTI) crude oil is around $80 per barrel. Over the past three months, the price has shown a slight increase, rising by 0.05% over this period, and a more significant 11.50% since the start of the year.

On a daily basis, we see that we have a pivot price located in the $79.60 to $80 zone. This price is roughly in the middle of the range, with support at $75.60 and resistance at $87.60.

The green MM20 is still below the red MM50, which is short.

As we can see, to become bullish again, it’s important to get back above the $80 zone with volume. We’re currently there, but we’ll have to see if this price zone becomes a solid support.

Prices to watch :

  • upwards: $82.60 – $87.60 – $89.70
  • falling: $79.60 – $77.90 – $75.60

Future forecasts:

One can assume a slight decline in WTI futures for the coming months. For example, contracts for July 2024 could trade at about 81 dollars, while those for December 2024 at 77 dollars. This downward trend could continue until December 2025, with a projected price of $72.75 per barrel.

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