smitheric1970

Oil - Supply/Demand Exchange Zone

NYMEX:CL1!   Light Crude Oil Futures
Weekly Inflections, Fibs, Supply&Demand Lines - Keeping it simple - Selling Entry in the yellow zones, Buying Entry in the Green - SL's on a break of the red zones - for this first Short Opportunity I believe 72.90 offers the best risk/reward short; however I will be Entering Short at 72.00; I think we may see a lot of consolidation in this overall Range during the next several months with a high possibility of seeing an extended range in the upper zone marked (Roughly 71.75-76.50 Range).

The two heavy black lines are our Long Term Supply/Demand Lines.

Good trading all!
Sep 24
Trade active
Sep 27
Comment: Prices continue to hold in the Supply zone; and I continue to hold my shorts. Note: I am moving my 'Partial' profit taking level from 70.20 to 70.56 and will re-add those short positions at 72.00
Good day! Note: On my 72.00 entry level shorts I will take Partial profits at 70.20 and re-add them at 72, if that scenario presents itself.

Good trading all!
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out