Oil has found it way for now and that is up, so looking for bottom of red zone test below and bounce or a red zone top retest up move. I Flip short if we move below red zone and stay below.
watch today my es charts are on April and usoil on TV does not look to be on the same expiry period. Yesterday has a fantastic accumulation and unless we can move back into the prior distribution oil looks like it wants to go higher. The early session high (red top) will be the clue as to if this happens today.. Move down I think would get back into some choppy stuff.
Today we test the top side of the big range mentioned yesterday, so we are at a very important level, a level that will help show the going forward path. A solid rejections probably takes us down to range bottom, not saying in one day. And now a break above with buying will have a move to 53 and then we see if consolidates or keeps going.
we are in a big range and will widen the red zone to the outside of this consolidation and until we move out of this range will look for small trends inside the big range, and no clear direction until this clears this zone. That said the down side looks the most likely in the big picture.
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oil is off to a bullish start heading for the top of the big range I have mentioned a few times. The first targets are close to the current action to see if oil can push past where some selling is likely to happen. This is either a look for buyers and in that cause we find them or we do not. If they are found a good sized up move could be coming and top of...
Oil is in the same positions as yesterday so will link that post, however oil staying below 51 I say keeps us only trading the bottom part of the range. And a move above 51 takes us tot eh top of the range close to 51.50. I will not get to bullish on oil anytime soon.
today the early session is setting up my boundaries very well, I do however have a light red zone for short at 49.8, and this could take s right past red low to the prior range bottom. In the event we break that low I then will look for targets, until then i have no values lower. Oil is and has been trading in a larger range from 49.5 to 51.90 and until this is...
so a bit of a slide over night but balanced in a declining flag so watch the red top for the break to the up side. action that is not impulsive to eh down side could be hared to trade if it remains inside the flagging set up. the red zone range is big enough to just trade the action inside if that is all it wants to give to us today.
as of typing oil is testing support of the red zone bottom and this would be the break of yesterdays range bottom, non rth session has traded inside the range of yesterday so a decent move could happen on break. I will watch the reaction on this break and probably short a retrace if the move is outside the red bottom.
today oil does not have a real red zone, so placing it at support and resistance area of a 5 day consolidation. I will be trading red top to balance (dashed line) and red bottom to balance in a small trend back and forth method until oil gets out of this range or provides more information. So i say big range chop for the time being.
from last session close oil has been moving up to the top of yesterdays early session and is finding a happy place there. If not break above red top then will not even think long, and last nights low is the area I will look to see if oil is finding buyers. So that said will be looking to trade this range from 49.25 to 51.50 and looking for impulsive trends...
Oil is already breaking out of the red zone and looking nice for the upside. I will look for a retest or a break back inside.
From last close oil has been balanced long and in a decently tight consolidation looking for it next move. As always watch the red zone for the first directional clue. A move lower could come fast and expect a move higher will be more grindy, but what do I know, this is only my thoughts. The trick is let the market prove me wrong and take advantage of what it is...
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...