Mikkelfo
Long

Bullish Crude Oil

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
Crude Oil             is signaling a possible reversal. We have a falling wedge , a 5-wave             pattern and bullish indicators (with weekly divergence). Therefore everything is signaling an uptrend. The only problem is that we have a lot of resistances overhead, which might make the uptrend either choppy or unsuccesful. However, everything in the chart is screaming "UP"

Weekly chart with RSI/MACD divergence
snapshot

Related Ideas

manish_damani
a year ago
If above 33 then possible target 37.49-43.72. So i feel you prediction may go right. Double bottom breakout above 33 if sustains possible.
Reply
johnmknox
a year ago
I think it trades sideways and probably drops some more before heading up. I don't think we have seen the bottom yet. Market still flooded. Iran only just started shipping. Nobody really cutting yet.
Reply
Mikkelfo johnmknox
a year ago
Yah longterm I'm not convinced of the bulls, but this formation SHOULD at the very least, result in short-term bullish movement
Reply
Mikkelfo Mikkelfo
a year ago
I'm not convinced (YET)*
Reply
mhctrader
a year ago
Diamond bottom OIL
Reply
mhctrader
a year ago
Further USOIL Long Analysis

Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out