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Crude Oil Futures (May 2018)Crude Oil Futures (May 2018)Crude Oil Futures (May 2018)

Crude Oil Futures (May 2018)

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CLK2018 trade ideas

Crude Oil - Breakout AlertNYMEX:CL1! Watch for a breakout in Crude Oil. An $84 handle on Crude could indicate a run back to the March '22 highs is en route. We've seen Crude stuck in the $65-$80 trading range for around 8 months now. While this base is being built, we see bullish divergence on a number of different oscillators. Weekly candles found support right around the 200 Week EMA and price is leading short EMAs above long EMAs. Weekly DMI shows that +DI just crossed bullish. Setting Fibonacci time-zones from Covid Lows to March '22 highs, we see the 1.618 time-zone perfectly coincides with the post-Covid low in May '23. Looking out to the 2.0 Fibonacci time-zone, we see the intersection of the time-zone, Schiff Median Line and March '22 highs at $130, in mid-January 2024. *Due to the crazy wick in April 2020, I used the weekly open/close as the origin point for the Schiff ML. If the upward trajectory continues, I'm getting long and hoping to ride price back to $130 or higher. Additional Screenshots below. Fat_Fat
NYMEX:CL1!Long
by Cousin_Fat_Fat
2
Oil - A New Long Leg Down Soon BeginsThe oil markets have been something of a puzzle to everyone on account of the fact that they range sideways for long periods of time, move a little bit, decapitate one side of the market, and then range again. One thing I've been sure of is that after doing $120 post-Ukraine War, and after WTI literally hitting $0.00 ( $-40 settlements lol) this certainly was not the top. And yet the problem is, this retrace has gone on for too long, with any and every rally increasingly being melted away and melted away. So it's not bullish, either. There's major geopolitical problems right now. One for the oil long is that because Russian oil is banned from the market by the International Rules Based Order, it doesn't mean that demand increased for futures-traded oil. Like, futures oil is primarily the United States' domain, and you know the leftists in Washington are short hard on oil because they sold off the SPR. How it works is you ban Russian oil from the futures controlled markets. The catch is that Russia still sells oil and sellers always have buyers. It means Russia sells at a discount or sells in exchange for rupees and yuan instead of petrodollars. Which means that demand from smaller countries and even bigger producers moves away from futures-traded oil and into Russia's pockets, which ultimately drives the price of commodities down. Geopolitically, because of the problems between Mainland China, its current ruler Xi Jinping, and the IRBO who operates via Taiwan as a proxy, anything can happen at any time. China is the biggest wildcard in the world because it's the only 5,000 year old country, has an enormous population with exceptional natural resources, and is ruled by a Communist Party that has become exceedingly inferior and weak. What this means is that the CCP can either fall or be overthrown literally any day. You won't hear it's going to happen days before on CNN and from The Washington Post. It will happen during Beijing business hours, which means the middle of the night in Manhattan. And if Xi is smart, he'll throw the Party away himself and weaponize the 24-year persecution and organ harvesting genocide against Falun Dafa in order to protect himself and the country from "War With Taiwan," which really and always has meant the IRBO trying to take control of China via Taiwan Ukraine Maidan Revolution-style. Since this event is in the cards, if it unfolds, it means we'll see $200 oil and in a big hurry. Really, in a big hurry. But before this happens, it only makes sense to melt down all the early longs and liquidate some funds first. I have an open call on Taiwan Semiconductor where I believe this company, because of the Taiwan situation, is a super strong long hedge in the upcoming markets: TSM - Taiwan, Your Semiconductor Long Hedge So, here's the call. All we have to do is look at the yearly candles and we can see that last year's price action was something of a yearly wick play. And so if we take this logic and we expect that after taking the high wicks, the low wicks are next, we wind up with some clarity on a set of monthly candles that is otherwise nigh indiscernible. Unfortunately for bulls, that means we're looking at prices that start with a 3-handle. Nobody ever believes it when you make a call like this, unless it happens to unfold right away. And while these markets might manifest in a faster way in the coming months, oil is still something of a landslide down and tractor pull up kind of market maker who employs sharp shakeouts along the way. Here's the thing: The OPEC production cut news in April was a canary in the coalmine, only because the rally was clearly a stop raid and failed. The May dump afterwards was a bearish harbinger of doom. It confirms the market makers are seeking continuously lower prices on higher time frames. On monthly bars and with recent price action, the $62~ level is supposed to be "support." But this support is likely to be broken if this rally fails. I believe this rally will certainly fail and we are about to have an extremely significant optimal short entry at roughly $79. If the theory is true, see how fast $61 comes. And after $61 is broken, perhaps it will actually be a breakaway runaway. If that really happens, then the targets are 3-handles in the $34 and $36 range. You better believe it.
NYMEX:CL1!Short
by LordWrymouth
15
$CL_F: Oil trend is up, could continueI've got an exciting trading opportunity lined up in the Crude oil futures market. If the price manages to break above $82.14 on Monday, it could signal a promising long entry. This could be a chance to ride the upward momentum and potentially reap substantial gains. Keep a close eye on the market's movement as Monday unfolds. In case things go as planned and the trade is triggered, here's the strategy: set your stop loss at $78.06 to protect against unexpected downturns. On the upside, aim for a take profit price of $87.80. We're looking to hit this target before the market closes on September 14th. The time frame offers an exciting window of opportunity to capture a strong potential profit. Remember, trading involves calculated risks. If the stop loss isn't hit before September 14th, you close the trade manually at whatever price it is then. If the target is hit at any point between the entry time and the close of Sep 14th consider exiting 75% of the position. And to play it safe, adjust your stop loss to match your long entry price. This way, you're securing gains and minimizing potential losses to keep a risk free trade going. Remember to either use AMEX:USO or front month futures for this (you could use the continuous futures chart for alerts, and trade AMEX:USO based on the cues given by it, or even use options on futures or on AMEX:USO itself). Never risk more than 1-2% on a given trade if the setup fails and you're stopped out or your options expire worthless. Cheers, Ivan Labrie.
NYMEX:CL1!
by IvanLabrie
Crude Oil Price Reverses Ahead of 50-Day SMA to Eye Monthly HighThe price of oil seems to be tracking the positive slope in the 50-Day SMA ($77.50) as it reverses ahead of the moving average. Crude Oil Outlook The price of oil may extend the three-day rally as it carves a series of higher highs and lows, with a breach above the monthly high ($84.89) bringing $87.30 (78.6% Fibonacci retracement) on the radar. Next area of interest comes in around $93.50 (38.2% Fibonacci retracement), which comes in just below the November 2022 high ($93.74), and the price of oil may exhibit a bullish trend as it seems to be tracking the positive slope in the moving average. However, failure to test the monthly high ($84.89) may push the price of oil back below the $82.10 (50% Fibonacci retracement) to $82.60 (23.6% Fibonacci extension) area, with the next region of interest coming in around $78.70 (50% Fibonacci retracement).
NYMEX:CL1!
by FOREXcom
Crude Oil futures could be ripe for a September rallyCrude Oil futures have been range-bound since the start of August, trapped between $85 on the upside and $75 on the downside. The technical perspective shows momentum studies rising from oversold territories, with the 8-day moving average trending just above the 34-day. DMI + crossed back above DMI -, indicating that the bull market we have seen since July may have just been catching its breath in August and will make another run at new contract highs in September. EIA Inventories Concerns EIA Inventory tightness remains, indicating a tighter supply picture with current EIA inventories sitting at 423 million barrels versus the five-year average of 438 million barrels for this time period. The real stress remains in the Mid-West, where Cushing stocks recorded their fourth weekly decline in the past five, showing 29 million barrels in inventory versus a five-year average of 35 million barrels. Global demand remains firm Global demand has strengthened with the resiliency behind the U.S. economy and supportive measures from China (the world's second-largest economy). If we see a continued acceleration in growth, one strategy traders could consider is buying any correction below $80 with a target of $85 while risking a close below $77.50 on the October contract. www.tradingview.com CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs Disclaimers *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
NYMEX:CL1!Long
by Phil_Blue_Line
1
OIL FUTURES, These FACTORS Will Move To The HUGE SELL-OUT!Hello There! Welcome to my new analysis about OIL FUTURES on the 2-day timeframe perspective. In the past times important changes have reached the fundamental landscape of the OIL FUTURES accessments. As inflation is coming down this simultaneously has an effect on the oil prices which pumped up last year and now the disinflation events are also leading to a decline in the price-action of the OIL FUTURES prices. Furthermore, main investment banks forecasts expect lower prices for OIL FUTURES as well, such as Goldman Sachs mentioning that despite huge supply still remaining in the market there is not enough demand to reach out to the supply indicating a drop in prices. Many investors are speculating on a drop in the prices and from a fundamental perspective the indications also show a high likelihood possibility that this will happen. From a technical perspective as marked in my chart OIL FUTURES are trading within this continued downtrend forming several lower highs and lower lows down the line engraining this major downtrend that established. In the most occasions a massive drop is going to follow up within such a determined and prolonged downtrend as soon as a certain amount of longs are triggered and stopped out this will lead to increased volatility movements and a sharper drop in the prices compared to what OIL FUTURES developed within the recent times. Also important to consider here is the 50-MA which is serving as a main resistance level combined with the protracted ABC-wave-count with the wave B forming a decisive triangle formation ready to breakout and form the main wave C. Thank you everybody for watching. It will be great when you support my idea and we move on forward together. VP
MCX:CRUDEOIL1!
by VincePrince
6
Oil is set to break up the price channel. Lucky this time?August could be an essential turning point for prices in this regard. This is undoubtedly the case on the WTI price chart. Early last week, buyers supported oil immediately after falling below $78, the 61.8% Fibonacci retracement of the rally from the June lows (at $67) to the August highs (at $84). This correction has cleared the medium-term overbought condition, with the RSI on the daily chart moving back from over 70. The reversal to the upside also coincided with the formation of a golden cross, where the 50-day moving average crosses the 200-day MA from below, impacting market sentiment. The actions of OPEC+ to extend existing restrictions and the recent additional cuts are helping to create a bullish picture on the chart. These efforts have been fruitful so far, as Russia and Saudi Arabia have increased gross oil revenues despite lower production, as higher prices have offset lower sales volumes.
NYMEX:CL1!Long
by FxProGlobal
Short oil Above 38.2% Fib LineCrude oil is trading it highs to low short fib at the 38.2% line. Oil has a history of trading this short fib line in this downtrend. The last time it traded this level, crude dropped from 81.72 level to 77.57, hitting the objective to nearly the penny. Now, we are trading the highs to low 38.2 level. And, once again, we are having issues getting past it. So, let's take a small risk here and see if we can get a trade out of it. I am looking for a 15 minute candle with a wick or two above this 80.37 level. A rapid fall back beneath this level would be the right price action for a big break to the downside, targeting the objective at 75.87. The chart shows the previous Fib draw (left) and subsequent decline to the target objective. On the right, the current fib draw from low to highs, including this 38.2% line. For this trade risk no more than 25 cents on your fill. Based on projected move, this is a 20:1 Reward:Risk level.
NYMEX:CL1!
by CeresTrader
1
Crude oil: Three waves down keep the bull trend aliveCrude oil came down this week with risk-off flows as USD keeps moving higher ahead of details from Jackson Hole economic event. However, the drop is in three waves for the crude with the current price now approaching the upper side of the corrective channel, where successful breakout with a daily close above $80.50 or higher, can lead to a bullish trend once agian. From an Elliott wave perspective, we will be expecting a fifht wave up then, but possibly we may have to wait on stocks to stabilize as well (SP500 support is at 4300), before bulls may become more confident here and strong. Have a nice weekend everyone. GH
NYMEX:CLV2023Long
by ew-forecast