Get started
BlueHatInvestor

Crude Oil Futures ~ Golden Pocket Support (2H Intraday)

Light Crude Oil Futures (NYMEX_DL:CL1!)  
BlueHatInvestor  
NYMEX_DL:CL1!   Light Crude Oil Futures
Trend Analysis Fibonacci Parallel Channel Crude Oil Futures WTI (CL1!) Crude Oil Crude Oil WTI Crude Oil Brent Commodities oott chartanalysis Technical Analysis parallelchannels
1
0
trendanalysis fibonacci parallelchannel cl1! crudeoil usoil ukoil commodities oott chartanalysis technicalanalysis parallelchannels
CL1! intraday mapping/analysis.

Crude Oil Futures finding support on Golden Pocket + lower range of descending parallel channel (white dashed) confluence zone after flat bottom break, while hovering above lower range of ascending parallel channel (green) + 66% Fib confluence.

  • Price action accumulating while digesting recent sell-off
  • Bias leaning towards bullish reversal to re-test break aka "return to scene of crime", TBC
  • Heavy confluence zone(s) underneath to keep price elevated (unless wrecked by major economic/geopolitical news catalyst)
  • Breakout above accumulation to validate bullish reversal &/or tap parallel channel (green) + 66% Fib confluence & rip back up to trigger fake dump/liquidity grab
  • Eyes on US Yields for correlation (linked via Related Ideas)


Set alerts - wait for trade to setup - hyper-awareness for potential oil manipulation by either OPEC+ or US (SPR refill narrative)

Related Ideas

BlueHatInvestor
US10Y ~ Intraday Analysis (2H Chart)
BlueHatInvestor
Crude Oil Futures ~ November TA Outlook (4H Intraday)
BlueHatInvestor
US10Y ~ November TA Outlook (Weekly Chart)
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.