Look at FRIDAY from 600 a.m. EST to 7 30 a.m. EST, on 1 minute chart. What do you see? Yes, that would have been a 1.08 tick move down or a $1,080.00 profit if you would have sold one CL contract until the bottom. In 1.5 hours of time, that is not bad money. CL Exchange: NYMEX Contract Size: 1,000 barrels Tick size: 0.01 = $10.00 ABOUT NYMEX CRUDE OIL...
Please read and save it (because it is a FREE and a PDF), if you are interested or trading crude oil futures: Here are the SEVEN SECRETS 1) Trade from 9:01 a.m. EST to 1030 a.m. EST ( 1.5 hours only)- Mon, Tues, Thurs & Fri. 2) Weekly Inventory report- Released exactly at 1030 a.m. EST (or Thursday, if holiday)- trade after release of report, from 1032 a.m to...
Couple of expected targets to the downside are in place for Crude Oil if we break the $42 level. First, we will have the $39 and then the $37 @ the .618 Fib. With all the inventory of oil, and no one stepping in to catch a falling knife the bears will probably have the control of the market until we reach those levels.
Support seems to have held up quite well into the close today so i'm looking for a break above 44.4 and then a move towards 45 At that point we will get to the 9 day SMA which should provide a good short opportunity. So long for a technical bounce on Sunday/Monday and then short at 45
resistance and trigger $47 - support and SL is $43.5 - my TP $58 ,maybe i'm crazy ! just saying
After an amazing move up as illustrated by the Dragons Belly pierce to the Oceans Surface and beyond, We are currently in a neutral position as the Dragon has formed an Eye and a Dragon Breathes Fire pattern., HOWEVER, the surface has been pierced on a weekly basis. I will be looking for a short position as price retests the $48.75 level (yellow dotted line). Any...
If CL can break and hold $44.30's I think we have a shot at pit closing $44.80s. We could roll off this level we could end up back on the lower trend line around $44.00 which is not good for bull case. But it is also a Friday and things are slowing down already
Oil 1.25% Ranges: 25.99 32.17-33.74 37.02-39.83 40.43-44.11 43.83-48.39
Yesterdays Crude Oil inventories saw bullish inventory numbers for price – the price responded but failed very quickly. A sign of further weakness for WTI? $44,$41 then early $37's are the next possible downside test levels. Support back up around $49?
Strong resistance on 47.13. Short oil to the retracement around 43.4 and stay in price action.
From late June to July , low to high, a 50% retracement and hard bounce already took place. Could see another test of 50% fib at $44.60 area Still seems to be within rising channel. As a bull, like to see the lower trend line hold. Under $44.60 and/or trend line break with consolidation and volume,,the bull party could be over for a while and a $42.00 retest likely
See no reason to think bullish short term trend is reversing. API and EIA did nothing to suggest otherwise. Rare these reports actually change trend. Pullbacks are expected.
We have been bullish Crude over the past 2 weeks and currently have nice profits on 2 of our prior entries. Yesterday we saw a wide ranging day close down on heavy volume, and this is a warning signal that should catch our attention. Over the prior 3 months we have seen 2 similar candles, which then proceed to form a bear flag with ascending price on lower...