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


smitheric1970 smitheric1970 CL1!, 240,
CL1!: Oil - Possible 69-74 Ranging
1068 2 22
CL1!, 240
Oil - Possible 69-74 Ranging

I have been waiting for prices to break up into a 69.37-74.14 range and based on current prices action along with 2014 broken support levels, believe we may see extended sideways action in this range, for several weeks, if prices do indeed break upwards. With the Brent/Crude spread in excess of 4 dollars we are still favoring exports; along with potential Iran ...

Alif12399 Alif12399 CL1!, 60, Short ,
CL1!: Wave 4 Might Have Started (alternative wave count)
121 0 2
CL1!, 60 Short
Wave 4 Might Have Started (alternative wave count)

This idea is valid ONLY if price breaks 70.66. If price doesn't break 70.66 and rebound, my preferred wave count is still this one:!/fBlY98Lq-Wave-4-Was-A-Running-Flat/

Alif12399 Alif12399 CL1!, 60, Long ,
CL1!: Wave 4 Was A Running Flat
141 2 5
CL1!, 60 Long
Wave 4 Was A Running Flat

X went higher than top of wave 3 (green in bracket). Y made 5 legs (impulse) but didn't went down below W. And then price kept on making higher highs. That should gave us a hint that wave 4 was a running flat. Look out for the confluence of fibo levels in the white box and the blue horizontal line at 72.70. That might be the next target.

Alif12399 Alif12399 CL1!, 1D, Short ,
CL1!: Wave 3 About To End
130 0 4
CL1!, 1D Short
Wave 3 About To End

This is a big IF my wave count is correct.

Trade24Fx Trade24Fx CL1!, 1D,
CL1!: Range trading: Gold and Oil  as for 05/18/2018
45 0 1
CL1!, 1D
Range trading: Gold and Oil as for 05/18/2018

Here we publish signals of the indicator called “Ranger”. It was developed by our experts for intraday trading purposes. This indicator is based on statistical analysis of the data and provides information about possible maximum/minimum values of the day (just right after the day has started) with certain probabilities. What does this information give to the ...

TradeFxTrends TradeFxTrends CL1!, 240, Long ,
CL1!: Crude Oil Bullish Trend Intact - Will We See $75?
493 10 7
CL1!, 240 Long
Crude Oil Bullish Trend Intact - Will We See $75?

Good evening traders, After we had so much of fundamental outcome for oil, I thought of making a short analysis on it. Now, you can see that oil is in an intact uptrend. An easy definition of an uptrend is when the market makes higher highs and higher lows like oil is doing. I marked the higher highs and highs lows with green boxes. After oil breaking its ...

j_nathan j_nathan CL1!, 1D, Long ,
CL1!: WTI Crude - AB=CD Bull with ranges
627 14 6
CL1!, 1D Long
WTI Crude - AB=CD Bull with ranges

Oil "appears" toppy but is strong trading week of 04/15. After a $3 pullback week of 04/01 WTI saw a significant jump despite inventory numbers proving Bearish week of 04/08. This was accelerated due to obvious fundamental forces. But also, see my prior study below and notice how the technical's were demanding a $67 price point before last weeks Syria drama took ...

Anbat Anbat CL1!, 1D, Short ,
CL1!: CL/Oil - I See Bearish Oil Back To $60, Then Back Up
130 1 8
CL1!, 1D Short
CL/Oil - I See Bearish Oil Back To $60, Then Back Up

Next few months, I do not see Oil going pass $72 a barrel, in fact see oil going back down to $60. A lot of geopolitical pyschology is in oil, which appears to be subsiding at this time. Noted on chart a Cyhpher Pattern and being over bought at this time. Noted on chart is where C to D leg of bullish trading chypher pattern and where price action will retrace too, ...

HendricksUncorkded HendricksUncorkded CL1!, 1D,
CL1!: CL-WTI 5 Week Plan
244 0 4
CL1!, 1D
CL-WTI 5 Week Plan

Pure technical plan pending tensions in Middle East do not escalate. Short term H/S creating a medium term I/H/S to make new highs

CL1!: WTI Crude OIL Montly Chart
451 1 5
CL1!, 1M
WTI Crude OIL Montly Chart

A possible multi-years trend!

Tom_Leksey Tom_Leksey CL1!, 60,
CL1!: Crude Oil Futures by Locked-in Range Analysis
74 6 0
CL1!, 60
Crude Oil Futures by Locked-in Range Analysis

Locked-in Range Analysis: Preference: Long positions above support Locked-in Range. Preference: Short positions below resistance Locked-in Range. Alternative scenario: After the LR Cancellation look for opportunities for opening positions by a direction of a breakout About Locked-in Range Analysis LRA is the method of interpreting the price and volume chart to ...

CL1!: WTI Crude Oil Monthly Chart
626 0 5
CL1!, M
WTI Crude Oil Monthly Chart

The chart may show the future trend of the crude oil!

wolfstreetswinger wolfstreetswinger CL1!, D, Long ,
CL1!: aiming long  - oil
240 0 7
CL1!, D Long
aiming long - oil

oil could be long again in my view

Anbat Anbat CL1!, 1D, Education
CL1!: CL OR Crude - Did You See And Trade Bearing Bat Pattern?
68 0 1
CL1!, 1D Education
CL OR Crude - Did You See And Trade Bearing Bat Pattern?

Harmonic Patterns are winners, but like eveything in trading, you need to know what they are as they are happening in real time.

InvestingScope InvestingScope CL1!, 1D, Long ,
CL1!: Rising Wedge within a Channel Up
117 0 3
CL1!, 1D Long
Rising Wedge within a Channel Up

The next two 1D candles are very crucial for keeping the bullish short term momentum alive. If the 69.96 support holds then the Rising Wedge (overbought STOCH = 80.772, Williams = -19.841) will quickly jump to 72.60. If not then the Channel Up (RSI = 62.380) will look for a Higher Low (Highs/Lows = 0.7114) with the most probable candidates being 69.00 and 67.80. ...

Alif12399 Alif12399 CL1!, 60, Long ,
CL1!: Wave 4 of Wave 5 Completed
173 2 4
CL1!, 60 Long
Wave 4 of Wave 5 Completed

I believed Wave 5 of 5 had started. The first target should be 38.2% (yellow fibo level on the right). Need to check for confluence with the white fibo levels on the left and count your wave at smaller tf to estimate the peak of wave 5.

Alif12399 Alif12399 CL1!, 60, Long ,
CL1!: Wave 3 of Wave 5 Completed
128 0 6
CL1!, 60 Long
Wave 3 of Wave 5 Completed

There is a possibility that wave 3 of wave 5 of Wave C in Wave 4 has been completed. We can wait for wave 4 to bottom and long again. I don't expect price to climb much further. You can check the momentum at Weekly tf. Bearish momentum is obvious at weekly tf.

ManuelRodriguez ManuelRodriguez CL1!, 1D, Long ,
CL1!: Oil in Rise Up¡
76 0 1
CL1!, 1D Long
Oil in Rise Up¡

Well , so good this is only the logical course of the Oil cl1! price to follow according to the general factors concurrent to the present, following the upward trend created a some time ago. /// Note: logically this Rise up may be in the company of an increase in price volatility, - must pay attention to this factor ///

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