Strategy Overview:
The chart shows Spot Crude Oil on a 30-minute timeframe, where price action is consolidating around the 70.00 USD level. The market is currently trading in a tight range, suggesting the possibility of an upcoming breakout.
Key Levels:
Support Levels:
The price is finding support at 69.871, which acts as a critical level for potential upward...
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“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
Monday DAY 1 Opening Range
Tuesday DAY 2 Initial...
Hi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
Monday DAY 1 Opening Range
Tuesday DAY 2 Initial...
Taking a short-term view, the oil market feels delicately poised and what happens over the next 24-48 hours could be very telling for the near-term passage of play.
After a near 14% rally from the 4 June lows, which took price through the May range highs of $80.91, and after a huge bullish position adjustment in both Brent and WTI futures, we’ve seen price pull...
Hi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
Monday DAY 1 Opening Range
Tuesday DAY 2 Initial...
Hi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
Monday DAY 1 Opening Range
Tuesday DAY 2 Initial...
Hi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
Monday DAY 1 Opening Range ✅ no daily cycle
Tuesday DAY...
Hi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
Monday DAY 1 Opening Range
Tuesday DAY 2 Initial...
Hi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
Monday DAY 1 Opening Range
Tuesday DAY 2 Initial...
Hi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
Monday DAY 1 Opening Range ✅ No cycle started yet
Tuesday DAY 2 Initial...
Hi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
Monday DAY 1 Opening Range ✅ day 2 cycle
Tuesday DAY 2...
Hi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”
Let’s jump into the Technical Analysis:
WEEKLY TEMPLATE (1hr chart):
Yesterday, Monday, the market broke through the previous...
The high on our Brent crude price has been $89.68 – hit at midday – but while our clients are long of crude (65% of open interest is held long), we’re seeing better sellers in the broader market, as we roll towards EU trade. The early rally felt reasonably orderly, but a lot of questions were being asked and without many immediate answers to obtain the certainty...
Further highs in crude have been seen in this momentum move. This time courtesy of some punchy OPEC forecasts for a 3.3m barrel p/d deficit in Q4. The IEA (International Energy Agency) are due to provide their update in the session ahead, and one can also expect a change in the forecast, given they previously pencilled in a 230k bpd deficit. $90 is the obvious...
Having reached the double top target, we see that Crude is now 15% below from its 50 day MA - in the past 2 years we've been as stretched as 17% below this average before we saw solid mean reversion kick in - we are in oversold territory and that offers an elevated risk of short covering
By way of flow, we now see 67% of open positions in crude are now held long...
The technicals in crude continue to break down as the buyers stand aside – the 26 Sept swing low looks close to being taken out at $76.61 and a break here sees $65 come into play – it does feel like these lows will be tested, so a short bias is preferred. The fact we see crude down 4% when copper is up 1% speaks to the EU price caps as the driver, over just a...
As I had mentioned earlier, this market is trading within a descending triangle and I was waiting for the daily close to decide if I was going to enter or not. Well, today's candle close was a long-tailed doji rejecting support. I am now long and looking for a potential move up to triangle resistance (about 120.000). Other important levels are 105.000 and 115.000.
