Crude Oil (July) Yesterday’s close: Settled 79.30, down 0.28 WTI Crude Oil futures started the week unenthusiastically with a failure at the psychological $80 mark that aligns with a key .382 retracement and fell short of pinging the 50-day moving average. OPEC+ instability was downplayed after the death of the Iranian President on Sunday, while prices have been...
Looks like a BUY to me Wycoff pattern generally quite reliable I'd say 80% Just had quite a big pull back
Note - One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all. ======= I use shorthands for my trades. "Positional" - means You...
Over view As per my previous weekly analysis, Crude oil had great ride from beginning of this year and paused from previous month. Fortunately this was necessary for having further movement. We can consider the previous month process was retracement thus by expecting further movement in upcoming weeks. Any small bounce from this level would be great bullish...
Maduro will lose the venezuelan election and liberate lots of supply to the market. USA will ease Venezuela sanctions.
Not too much to update here as we are still stuck in a range as expected. We got a new low last Wednesday with strong buyside reaction. Very trappy PA. This week, I would ideally like to see buyside liquidity @79.96 get taken and buy the retracement to catch a move higher. Area of interest below @77.85.
Thesre is a Wolfe Wave and Price hugging that Extended 1-4 Line in future is Possible . For price to pop above that Channel to 110.00 Area is also possible . All my Price levels are based on Fib's . So we could be locked in this Channel for a few Months
Technical Momentum Weakens Crude Oil futures are declining in 2024 after correcting down to the 200-day moving average at $77.94. The technical perspective shows momentum studies declining into oversold territories, with the 9-day moving average trading below the 18-day. DMI- is above DMI +, indicating that the market is in a correction phase, while the Average...
$CL1 is looking set for an intra-day long. The recent sharp drop below both key moving averages and subsequent movement indicate strong bearish pressure. But it has found short term support and is appearing to be reversing. Disclaimer: This analysis is part of my personal trading journal. It should not be considered as financial advice or a recommendation to...
Looking for short entry in NYMEX:CL1! price is forming double top break and retest
**CrudeOil:** The forecast for Crude this week is for the price to fall to the 76.43 level, that matches with a lost pivot.
Not alot of update from last week's chart. We have been creating a base in daily demand zone (green zone) and consolidating as expected. This week, I would like to see some movement to the upside. A break of $80 upside confirms trend for me with first macro target at $83-84.
- all rectangles are potential support/resistance with the last one blue being a probable exception - the 3 marked with dots levels can also become support/resistance, especially the first bottom blueish one, but they can also become like milestones levels or steps in the evolution of the price - the 2 green curves are also potential support/resistance acting as...
WTI crude oil futures are experiencing a downturn, currently priced at $79.37 per barrel, marking a 0.48% decrease. This decline is attributed to the global economic challenges that are negatively impacting the demand forecast. Similarly, Brent crude has seen a reduction in price, now at $83.88 per barrel. The economic recovery in China is progressing slower than...
The bearish trend is still dominant and we have had a clear downward trend. There has been some consolidation since last Friday and a bounce may be due soon. Entry Point: Wait for the price to break above the downward trendline conclusively during today's morning EUR session. Considering $79.50 as the profit target, with a stop-loss at $77.50. NYMEX:CL1!
I've been very reluctant to publish any idea's this week intra day, as I believe we are in retracement from the amount we sold off recently. The 4hr wick CE is the point of interest I have where price respected I am aiming for the 15min SSL to be broken and a setup form this CME open.... Lets wait and see...
We've been out of the #Oil trade for some time now. It since went about 10% higher, no big deal. Daily analysis: Broke its recent uptrend. RSI oversold - Usually gets a bounce at these levels. It has been trading in between mid 60's & Low 90's. Intraday looks like it is setting up for a bounce. -------------------------------- Weekly Analysis: You'd figure...
Technical Momentum Weakens Crude Oil futures are declining in 2024 after correcting down to the 200-day moving average at $77.88. The technical perspective shows momentum studies declining into oversold territories, with the 9-day moving average trading below the 18-day. DMI- is above DMI +, indicating that the market is in a correction phase, while the Average...