Light Crude Oil Futures NYMEX:​CL1!

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CL1! Commodities Futures Chart

Technical Analysis Summary


Crude Oil is a naturally occurring liquid fossil fuel resulting from plants and animals buried underground and exposed to extreme heat and pressure. Crude oil is one of the most demanded commodities and prices have significantly increased in recent times. Two major benchmarks for pricing crude oil are the United States' WTI (West Texas Intermediate) and United Kingdom's Brent. The differences between WTI and Brent include not only price but oil type as well, with WTI producing crude oil with a different density and sulfur content. The demand for crude oil is dependent on global economic conditions as well as market speculation. Crude oil prices are commonly measured in USD. Although there have been discussions of replacing the USD with another trade currency for crude oil, no definitive actions have been taken.

Related Symbols

CFDs on Brent Crude Oil
CFDs on WTI Crude Oil
West Texas Oil
Brent Crude Oil


Alif12399 Alif12399 CL1!, 1D, Short ,
CL1!: Daily Wave Count for Crude Oil
260 3 4
CL1!, 1D Short
Daily Wave Count for Crude Oil

The red arrow is the next target, I believe. The long term target, I have posted it at the "Monthly Wave Count for Crude Oil" analysis below. These are just probabilities. It might go higher/lower than I've forecasted.

ew-forecast ew-forecast CL1!, 1D,
CL1!: CRUDE OIL Is Breaking Lower- Elliott Wave
842 3 25
CL1!, 1D
CRUDE OIL Is Breaking Lower- Elliott Wave

Hello traders, and welcome to another update about Crude OIL. Crude Oil has been trading quite bullish the last year, unfolding a five-wave price movement from July of 2017 lows. We know that once a five-wave price movement fully unfolds, that is when a new change in trend may happen. In our case, this may have already occur as we see price currently sharply ...

CrypTedor CrypTedor CL1!, 1W,
CL1!: Crude Oil, Bullish Parallel Channel Analysis
199 0 4
CL1!, 1W
Crude Oil, Bullish Parallel Channel Analysis

Crude Oil is bouncing between the Support and the Resistance of this Bullish Parallel Channel. Now we are also retesting the long-term support level. Bullish Volume is strong and the RSI is in the range. It's an Interesting Area! In this case three things can happen. Bounce higher, the Target would be the long-term Resistance Zone Break Down the Current Support ...

nmkvijay nmkvijay CL1!, 60,
CL1!: limit buy  trade idea
179 2 3
CL1!, 60
limit buy trade idea

All information given inside the chart. I shared this for Educational purpose only.

smitheric1970 smitheric1970 CL1!, 240, Long ,
CL1!: Oil - Long to 70
629 8 20
CL1!, 240 Long
Oil - Long to 70

Last week prices initially showed signs of equilibrium between 64.6 and 65.8; however towards the end of the week it H4 chart is showing Higher Points of Demand and it appears that sellers are getting absorbed in that range. Based on last weeks close a Weekly Inflection has been created at 65.71 and if we see volume move above this level then I will look for my ...

Alif12399 Alif12399 CL1!, 1D, Short ,
CL1!: Short Setup for Wave 3 of 5 of C
177 0 5
CL1!, 1D Short
Short Setup for Wave 3 of 5 of C

I believe Crude Oil is in the midst of completing Wave 2 of 5 of C. My target for subwave Y of Wave 2 is at 68.11 area (Wave Y = 161.8% of Wave W). My justification for the target is base on the wave count for WXY of Wave 2 as shown below. Once Wave 2 is completed, I'm expecting a substantial fall for Wave 3. The target for Wave 3 is at around 54.17, which is ...

j_nathan j_nathan CL1!, 240, Short ,
CL1!: WTI Crude ABCD Bear
106 2 3
CL1!, 240 Short
WTI Crude ABCD Bear

CL had some nice price action this week to complete required fib level for leg C of an AB=CD pattern. See the chart for details but its pretty straight forward. We have room to test the 67.70 price point but that just pushed the target price further down. GLTU!

Esoptions Esoptions CL1!, 1D, Short ,
CL1!: Bear flag
100 0 3
CL1!, 1D Short
Bear flag

Liukely to keep dropping to 62 according to price pattern, short term trend & seasonality.

nmkvijay nmkvijay CL1!, 1D,
249 1 6
CL1!, 1D

All information given inside the chart and i shared this trade idea for the educational purpose only.

Joseph_King Joseph_King CL1!, 1W, Short ,
CL1!: Crude Oil Bearish Butterfly
347 0 9
CL1!, 1W Short
Crude Oil Bearish Butterfly

It appears that a bearish butterfly hasn't completed with perfect Fibonacci rations at 7290 as well as .382 of $147/$26. Crude oil may now correct, either to 0.382 of the C/D line or deeper, possibly back to .236 of $147/$26 and 0.618 of $42/$73.

Trade24Fx Trade24Fx CL1!, 1D,
CL1!: Several arguments in favor of medium-term oil sales
47 0 2
CL1!, 1D
Several arguments in favor of medium-term oil sales

Given the nature of the news that has recently come out on the oil market, we believe that it's time to seriously talk about mid-term oil sales. This is a reduction to $ 40 per barrel and lower. What can be the basis for such a movement? Here are a few key arguments: 1. Saudi Arabia and Russia are increasing their oil production (the Saudis have increased their ...

FXRenew FXRenew CL1!, 60,
CL1!: Crude Oil - First Target Met, Bias remains Long
85 1 1
CL1!, 60
Crude Oil - First Target Met, Bias remains Long

We continue to hold our long Crude view, as we are pressuring 67.00 this morning again and look poised to break through it. THe rise has been volatile so also trail stop/scale out here as a precautionary measure.

SuppasitWechprasit SuppasitWechprasit CL1!, 60, Short ,
CL1!: Crude Oil Future JUL18 (1h)
81 1 2
CL1!, 60 Short
Crude Oil Future JUL18 (1h)

Trading Signal Short Position (EP) : 65.67 Stop Loss (SL) : 65.78 Take Profit (TP) : 64.81, 64.11 Description CLN2018 formed Double Repo Failure Sell at 1h time frame. Trade setup with Sell Stop at 0.382 level (65.67) and place stop loss after 0.618 level (65.78). Once the position was hit, place take profit before an agreement zone (64.81) and 64.11 Money ...

Alif12399 Alif12399 CL1!, 1M, Short ,
CL1!: Monthly Wave Count for Crude Oil (extended count)
309 3 7
CL1!, 1M Short
Monthly Wave Count for Crude Oil (extended count)

Some countries (i.e Malaysia) are making a smart move by pegging the retail oil price when crude oil was at around peak of wave 4 of C. That will bring extra revenue for the country at times of turbulence (but at the expense of the people).

mamqua mamqua CL1!, 1W, Long ,
CL1!: time to go long to final target
88 0 2
CL1!, 1W Long
time to go long to final target

Final target is on the air and will take a big decision about taking atour lower or getting near 100 area

santosraim santosraim CL1!, 1M, Short ,
82 0 1
CL1!, 1M Short


InvestingScope InvestingScope CL1!, 240, Short ,
CL1!: Rejection on Higher High, buy opportunity lower
145 0 2
CL1!, 240 Short
Rejection on Higher High, buy opportunity lower

As 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 ...

FinanceRhino FinanceRhino CL1!, 1W, Short ,
CL1!: Bearish Butterfly
159 0 7
CL1!, 1W Short
Bearish Butterfly

Extremely well measured bearish butterfly with bearish divergence. I strongly believe we could see crude go down to $52

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