Get started

Lightcrudeoil

Correction on 1W completed. Medium term uptrend. Long.Since the last report, the price pulled back after the 1D Rising Wedge exhausted. Technically the correction on the 1W Channel Up is completed (at 63.50) and already the price has crossed (marginally) the 0.618 Fibonacci retracement level (69.23). 4H has developed a Channel Up (RSI = 61.796, Highs/Lows = 0.6614, B/BP = 1.300, MACD = 0.770) which will serve as the initial mechanism for this medium term bullish reversal. We are buying with first TP = 70.52, second TP = 71.88.
NYMEX:CL1!Long
by InvestingScope
Crude is retesting the broken up trend lineCrude broke a year long up trend line earlier this month. It has now tested the bottom of the up trend line several times and looks ripe for drop. Take your loss on a daily candle close back above the trend line . Target the three indicated levels. You can even hold a portion of the trade for the June 2017 low. Follow your stops as the trade moves in your direction. Be sure to size your trade according to your risk parameters. NEVER BET THE FARM! No trade is guaranteed 100% to work. You NEVER know what the market will do. Your first job is to protect your trading account.
NYMEX:CL1!Short
by Tradingstrategyguides
6
Rejection on Higher High, buy opportunity lowerAs seen on the chart, the price was rejected emphatically on the Higher High of the 1D Channel Up (RSI = 53.179, MACD = 1.090). As a consequence (with the 4H Rising Wedge also broken) the Channel Up will now look for a Higher Low (Highs/Lows = -0.3729) and the potential buy zones are: 69.01 - 69.50 and 67.80 - 68.20. We will enter equal long positions on both zones, expecting a maximum downside period of two weeks. Long term, CL remains bullish as long as 1W is a Channel Up (RSI = 65.582, Highs/Lows = 2.8521, B/BP = 8.5860, MACD = 4.030).
NYMEX:CL1!Short
by InvestingScope