NYMEX:CL1! "Excellence is not a singular act but a habit. You are what you do repeatedly." -Shaquille O'Neal Last week Sellers were successful in pushing the price per barrel of OIL underneath Major Key Level ($80.00)... Now the reason I believe we are preparing for OIL to go LONG is due to price nearing a Major Unmitigated Daily Demand Zone and approaching a...
currently its in downtrend on 1h tf, price can reach 81.61(3%), if trade above RED(79.09)...
May is not always a good month for crude oil. When you look at the last 40 years, there is a positive change rate of less than 50%. However, Crude oil is moving to the support resistance point, and its performance in the last 8 election years, from the beginning of the may to the 21-22 of May during the election years, is 7 years positive and an average return of...
I've been very reluctant to publish any idea's this week intra day, as I believe we are in retracement from the amount we sold off recently. The 4hr wick CE is the point of interest I have where price respected I am aiming for the 15min SSL to be broken and a setup form this CME open.... Lets wait and see...
Equal Lows are the DOL and we are going from IRL > ERL
there could be a bounce of 1%(79.77 tp) from 78.87 sup zone
AT A GLANCE: Despite ongoing geopolitical conflict, oil prices and volatility are relatively low A rise in U.S. crude production and weak demand in China are helping oil inventories maintain average levels Considering many factors like the Russia-Ukraine war, OPEC+ cutting production by 3.6 million barrels per day and conflict in the Middle East, many...
NYMEX:CL1! continues to look bullish today. There might be a small pull back before the price resumes it journey towards 80. The plan is to wait for price action to confirm the direction clearly and look for buying opportunities around 78.70 area. Alternatively if there is no pullback in the morning session, wait for the price to break R1 or the 200 MA before...
The bearish trend is still dominant and we have had a clear downward trend. There has been some consolidation since last Friday and a bounce may be due soon. Entry Point: Wait for the price to break above the downward trendline conclusively during today's morning EUR session. Considering $79.50 as the profit target, with a stop-loss at $77.50. NYMEX:CL1!
**CrudeOil:** The forecast for Crude this week is for the price to fall to the 76.43 level, that matches with a lost pivot.
So I don't take too much of my time on the weekend trying to figure out where price is going to go as price isnt even active. So barring any exponential moves Sunday open I am still bearish and have : Monthly Wick CE and target 1 Weekly SSL as target 2 Pre CME open I will re analyse where the market is and publish further forecast for the day.
Crude Oil (June) Last week’s close: Settled 78.11, down 0.84 on Friday and 5.74 on the week WTI Crude Oil futures have trended with a lower high for five straight sessions and while trading below first key resistance at 79.49-79.63, it is gearing for the sixth straight session since the April 26th peak. Price action has now tested major three-star support at...
Elliot wave theory confluent with war situation in middle east wave 4 Zigzag deep correction seem to finish in pivot point (previous high) I long, aim WTI crude oil will go back at least 85 I going to partial close if price is reach 85 I also back-test using trend line and pivot point I found that using 3.5% SL is work well to protect whipsaw in trading I...
BUY CL at the 79.15 or the 78.00 price levels, going back up to the 90.00 to 95.00 price and beyond.
Over reaction and over sold on the 1st of May. NYMEX:CL1! could recover some lost ground tomorrow. Plan is to buy above 79.40.
As it appears, we could see another downward spiral in oil prices for next week and then maybe hit the support of $77 area?
analysis suggests that the optimal selling zone for crude oil stands at 6651. This assessment prompts strategic considerations for traders, with suggested take-profit levels at 6575, 6530, and 6500, offering multiple opportunities to secure gains. However, to mitigate potential losses, it's advisable to set a stop loss at 6720, safeguarding against adverse market...
Selling volume appears to be slowing down but does CL reach 77/75 before catching a bounce?