CL light crude oil, the line that tells the story of today
the light crude oil breaks a resistance with impulsive and volume look ONLY for the buy signals for next week
The technical view show how the value of crude oil is within a Bearish channel where the price has found two obstacles: The dynamic resistance of the bearish channel and the Fibonacci retracement 61.8%. The stochastic is in overbought with divergence and the volumes decrease, followed by a red candle that today breaks the moment of sydeways started on August...
Another scenario for the oil chart. This time, I predict a little closer flow with an hour chart. If chart creates a waveform with the following flow, you may see flying oil in 2022. Creating and responding to multiple scenarios is helpful.
Hello trenders, I am not really into futures but I like to see the future :) What I just saw is not pleasent, we are into a bearish channel and on top of it. So down we go with a long bearish trend. Retest failed, all indicators in a bubble ready to explode. Dollar loosing its power is another factor that confirms the idea. Check the larger view under....
The chart give you all details of ELLIOT wave count for NYMEX light sweet crude futures. I noticed that his commodity recovered in 'V' shape from ABYSS(3rd of3of wave5) and erased all its losses to $60 But this recovery has one more test for final wave C5v, I assume that this will finish nextmonth (april)for 0.618 times of c5i at $46 comments are welcome
Ranges are repeatable trading chart patterns. Ranges are consolidation chart patterns that can breakout either direction. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout...
Light Crude Oil Futures - Price Gap filled at 42.316. Now we can see strong resistance at 42.316, It will need to break this critical level to move forward. Major support is at 35.00.
Light Crude Oil 45 minutes chart below shows that the commodity has ended cycle from July 6 high as wave 2 at 38.56 low. The pullback unfolded as a flat Elliott Wave Structure. From July 6 high, wave ((a)) ended at 39.90 low. The bounce in wave ((b)) ended at 41.08 high. Afterwards, oil declined lower in wave ((c)), which ended at 38.56 low. This ended 3 waves...
If we cut the rectangle, we have a good probability that we are in an uptrend and we can touch the orange line in severals weeks.
Light Crude Oil Futures High probability to ride up to the price 22.50 USD
We see a strong pullback from buyers after an important down Mouvement crossing trend resistance line and the VWAP Price line, there is a great probability that the price will run to the VWAP price line During the upcoming days..
Currently it is forming the right shoulder. This gives a good opportunity to buy near the support and hold. The risk is low in case it breaks down. Reward is high to reach the H&S target.
IF THE MARKET BREACK ( 22.73) WITH POWER HIS NEXT MOVEMENT WILL GO DOWN TO TEST ( 20.15 ) AGAIN
the market still has the power to test 27.84 AND IF IT WILL BREACK THIS point with power it could go around 29.43 but in generally the market still Bearish so . pay attention