This week I have a eye on 80.50 for price to reach. We have closed in the weekly fvg and now lying within a Daily FVG and Daily V.i The Daily V.i is important to reference as Monday we can trade higher into this.
So as in my previous forecast we have now closed daily bellow the Weekly FVG My next target will be 80.50 by end of week. Thats it for this week.... :)
Bullish. After forming a new peak high, price retraced to the +FVG. Friday's "news wick" tapped the -FVG above and quick returned the +FVG. Should the +FVG hold, expecting price to move toward the highs, as price moves from Internal -> External liquidity. The LRLR to the lower left is a draw on LQ that bears watching. I enjoy any feedback or questions in...
NYMEX:CL1! “If my mind can conceive it and my heart can believe it - then I can achieve it.” - Muhammad Ali HOUSE CALL for a potential SHORT this week.....This is simple what I'll be looking for! 1) On the Daily TF we have a HUGE rejection Candle at the Daily Resistance leave $84.00 Per Barrell and now Price is currently trading above this Daily Demand Zone...
81.81-82.30 can play pivotal role for the next movement, if trade above, then 85.25 could be its target zone and if trade below, then oil can reach 78.81
Oil prices have retraced just under 8% from the MTD (month-to-date) high. And it looks like the market is trying to stabilise around a support cluster, just above the $80 handle. The cluster includes the 50-day MA, high-volume node and prior consolidation zone. A small doji also firmed around these levels to suggest a swing high has formed, or very near. A...
Which market is a better hedge when a geopolitical conflict started. I know many will say that it must be crude oil. Over the past 2 major conflicts, we could see that crude oil did not gain any momentum, in fact it came off. So which markets have reacted positively to all these tensions so far, and will continue to remain this way with future tensions? My...
And we are back into the dancing area. Of course the price went up because the news of the war, let's see tomorrow how the prices will dance, if in their "safety area" between 84.01 for longs and 87.60 for shorts... or will be up following Arabia Saudita wishes on 100
Technical Momentum Weakens Crude Oil futures have stalled after rising in 2024 after trading at the upper price band of $88/barrel and lower price band of $84/barrel. The technical perspective shows momentum studies correcting from overbought territories, with the 9-day moving average stalling above 18-day. DMI + is narrowing in on DMI -, indicating that the...
Crude oil stabilized this week around $84 per barrel on the May 2024 contract, from which we are seeing some nice rebounds after recent events between Iran and Israel. There is a risk that this escalation will not be over anytime soon, so energy prices may remain in an uptrend, possibly heading for a higher fifth wave back above last week's highs. If the market...
© Master of Elliott Wave Analysis: Hua (Shane) Cuong, CEWA-M The broader context indicates that wave (ii)-purple appears to have just ended, and wave (iii)-purple is being initiated to push lower. In the short term, wave (iii)-purple seems to be opening up to push lower. Wave i-blue is currently in progress, and surpassing the level of 82.14 would indicate the...
With FOMC looming today and NFC I don't see any reason for the Weekly SSL to be taken out and price to at least stab into the Daily FVG. I will be looking out for meaning full moves into these price points during NY session today. London may offer a little chance to create some false idea we have done it but usually the move is fake and revisited. 80.50 is my...
BUY CL at the 79.15 or the 78.00 price levels, going back up to the 90.00 to 95.00 price and beyond.
Daily Bearish Stay Bearish bias until 1hr -OB is closed above with a displacement candle @ 83.25 In this chart I am illustrating why IMO, this is a High resistance Liquidity run and not LRLR. The Price in the circle is Balanced, so for price to cut through this with ease is difficult all be it we have a signature LRLR bellow. So if a bearish setup appears don't...
Nobody knows the future so I just track parameters using Elliott Wave and also s/d zones. Let's see where support holds and I'll be watching for an impulse higher to signal the bottom is in. Otherwise, if we break 83 with feeling, then I'll watch 82 and 80.70 for support levels. If all of those break, then any meaningful rally is delayed for weeks or more. All imo...
These levels provide guidance for traders interested in trading Crude Oil MCX Futures in May, offering specific entry points, target prices, and stop-loss levels to manage risk. Range Point: 6,999 Intraday Range: 85 points Buy Above: 7,011 Average At: 7,001 Buy Target 1: 7,052 Buy Target 2: 7,084 Buyer Stoploss: 6,982 Sale Below: 6,990 Sale Target 1: 6,946 Sale...