Oil is in a big consolidation and has a smaller break zone. This is why showing 2 red zones, the bigger zone is more for a trend or swing type trade or heads up of primary direction and also support and resistance for turning points. The smaller red zone will be good for intraday trading showing chop or small trend for the day. I will be looking for 53 and then...
oil has a very nice set up range, any move below red zone I think will take us to 51 before decent support. and a move out the top of the red zone will have oil back into the top of this bigger 3-4 day consolidation. at 54 area
The action is balanced long and looks to want to move higher as long as red zone bottom holds. down side has some very close targets so a move down could be just a peak below to see if there is any action so watch for buys around these areas if short. The move above red high has more aggressive targets and looks to me to be where the bigger moves could come. In...
Today we have a up move inside a balancing range so will be look at 2 things, 1) a move below the top dashed line for a trade back to bottom dashed line and possibly to the Red zone bottom. If Red bottom break then a move through to 52. 2) is a move above the top of Red zone or a bounce of top dashed line for a run to 55. 3) A consolidation day looking for the...
CL is now at the daily low price. I am looking for a counter trend line break bullish towards the north.
TVC:USOIL
With no doubt oil is bearish and first plan would be to be looking for ways to get short. There are some bounce points that could happen but with this news cycle going to take a bunch of good stuff to cause this bounce. We are getting very over sold so bounce can happen but will need a new narrative to change the over all direction.
Follow this wonderful arrow with us We previously achieved nearly 100% as profits And now we have very important support at 10.53, we should not close below it A bounce of green is expected if the bounce occurs and support is maintained The target is close to 24 It means another 100%
Use this asa guide to develop your setup: Main items we can see on the Daily Chart: -The price was rejected from a major resistance zone. -The ascending channel has been broken. -Currently we can see a corrective structure (continuation pattern). -Our forecast is a continuation of the bearish movement towards the next support zone. -We will trade this...
Oil is balancing as it gets ready to tell us what it plans next. not only is this info critical for the day trade ( that is fine just staying in the Red Zone for back and forth action) but also critical for the oil big picture trade also. I targeted oil down to 56 area before big decision time and now we went a little lower. On the chart are lower important big...
TVC:USOIL
Well we hit my 56 area and things got interesting. I will be stalking a long term long side trade if it set sup, but now that we are under 56 for today the Red zone is very important and looks like lower we will go. So today will be leaning on any short set up, however a move back above 56 dot 25 I will look for day trad longs back into the high 56's to low 57's
Oil is back into that lower range i mentioned and now might go for the 46 buy zone i was targeting last week. Watch the red zone for directional clues and be ready to just trade the range. This is oil report day so little may happen till post the news
Oil has moved back down to the pricing level it hang out at most of last week and would balance out well with a move to 57. This also give oil a bigger range to slosh around in between 60 and 57.50. Will watch red zone for breaks or rejections to give me my days directional leaning or days range to trade.
Use this as a guide to develop your personal view and always take your conclusions. Main Items we can see on the 4hs chart: a)The Price was inside an ascending channel and made a reversal movement on a Daily resistance zone (check the daily chart) b)Currently, we can see a corrective structure that has been formed in the middle of the lower trendline of the...
The future USOIL, symbol CL, is in a Bear Market with price trading above the 50 ema, which is below the 200 ema, which is below the 800 week ema. The long term emas are mostly flat, indicative of an accumulation / distribution zone. Price has closed below the 13 ema at 58.85 on the weekly, so therefore, the Bear Market Rally can be considered over. Last week...