Technical Momentum Weakens Crude Oil futures are declining in 2024 after correcting down to the 200-day moving average at $77.94. The technical perspective shows momentum studies declining into oversold territories, with the 9-day moving average trading below the 18-day. DMI- is above DMI +, indicating that the market is in a correction phase, while the Average...
NYMEX:CL1! is shaping up for a possible long position. Wait for the oscillators to confirm the bullish reversal and buy on bounce from the support trend line or the on a bounce from S1 77.34. Revisit of 79.20 as a possible target.
Equal Lows are the DOL and we are going from IRL > ERL
So as per previous forecast for Crude we are bearish bias. We have come to the weekly wick ce again and come CME or NY open I am anticipating a retracement that respects the FVG marked in the chart... Sure sometimes price might 'mowhawk' above like sense says. Be patient and wait for price to make a MSB on at least the 5min before using your entry model to target...
Technical Momentum Weakens Crude Oil futures are declining in 2024 after correcting down to the 200-day moving average at $77.94. The technical perspective shows momentum studies declining into oversold territories, with the 9-day moving average trading below the 18-day. DMI- is above DMI +, indicating that the market is in a correction phase, while the Average...
With no news injections today I would stay on the side lines. We have Daily Wick level in conjunction with a 1hr FVG which if Crude Oil is substantially bearish should respect leading upto NY open and CME open. The overall bias for me is still bearish with weekly ssl in the lower half of the charts marked with a magnet. This is the draw and what I will be waiting...
Wait for the oscillators to turn bullish on 1H for $NYMEX:CL1!. We are looking at a possible long here.
Quick after market analysis for possible overnight trade First trade Is a possible short at the newly formed resistance and I would have my Sl back up again the trend line downward So entry would be 78.8 Sl would be 79.1 Tp would be 78.3 Here we could counting that when price reach the previous resistance it would have little to no volume to support more upward...
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...
there could be a bounce of 1%(79.77 tp) from 78.87 sup zone
$CL1 is looking set for an intra-day long. The recent sharp drop below both key moving averages and subsequent movement indicate strong bearish pressure. But it has found short term support and is appearing to be reversing. Disclaimer: This analysis is part of my personal trading journal. It should not be considered as financial advice or a recommendation to...
Looking for short entry in NYMEX:CL1! price is forming double top break and retest
**CrudeOil:** The forecast for Crude this week is for the price to fall to the 76.43 level, that matches with a lost pivot.
Not alot of update from last week's chart. We have been creating a base in daily demand zone (green zone) and consolidating as expected. This week, I would like to see some movement to the upside. A break of $80 upside confirms trend for me with first macro target at $83-84.
- all rectangles are potential support/resistance with the last one blue being a probable exception - the 3 marked with dots levels can also become support/resistance, especially the first bottom blueish one, but they can also become like milestones levels or steps in the evolution of the price - the 2 green curves are also potential support/resistance acting as...
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...