$CL_F looks like - to me - there is another leg down in store that will bring it down to the mid to high 50s range My gas tank and wallet would surely love this to pan out lol Plus, we should see some action here this election cycle IMO
1.8.24 On this video I did a quick review of the dollar, Oil, gold, The Russell, the es which I would not trade right now. This is more about looking at gaps and support resistance areas... for Scalp Trades.
Crude oil has risen over 2% since the beginning of the 2024 trading year, marking it as an outperformer among risk assets. Recent price action has displayed higher lows, and higher highs are soon to be tested. Recent Economic Data: Recent jobs data displayed larger-than-expected wage growth, as reflected by Average Hourly Earnings. Wages grew at 4.1% YoY, more...
Our overview: Weak demand balance Middle East tensions bringing to the market a substantial weakness. Resistance @$74.00 showed in the first days of the year to be strong enough to reject the price two times. Our overview in the short period is long with target in area $79/$80. Trends analysis: Primary(purple): upward corrective structure wave C,...
Oil is used in the running of machines that contribute to mining, manufacturing and transportation -- Oil has many benefits including: a store of energy, and can be used in vehicles such as cars. -- Also oil can be used in the production of electricity. -- The problem with oil is that if not properly regulated can damage the environment for example an oil spill...
Why not finish off nano 5up to 75.60, then back to 73...Then a rip your face off rally? Distinct possibility that price wants the larger degree wave 3 immediately, in which case price will smash this 21m count to the upside. Gap up and go towards 78.60. Not predicting...
Levels I'm watching for bullish confirmation 74.60, 76.60 and 78.60. Below $72 would suck for bulls.
The 4 hour charts doesn't offer to many more clues other than a tighter $65/75 range and an upwardly grinding channel I will keep an eye on it and see if it changes materially in the coming weeks.
The first impulse higher from the crazy lows back in 2021 to the 129.55 high in 2022 has been correcting, the first impulse lower reached 65.38 and we we now consolidating in a narrow 65/80 range. the current move could extend into $90/95 zone being the 38.2/50.0% retracement before completing its correction in the $45/48 area which marks the target for the...
This morning’s jobs report came in stronger than expected, and oil prices rallied. The 216k December NFP gain topped the +175k estimate, though revisions to the two previous months were sharply negative – a trend we saw throughout 2023. Average hourly earnings verified hotter than what economists were forecasting. At +4.1% on a year-on-year basis, workers are now...
Crude oil Chart Analysis 05/01/2024 Elliott Wave Theory Long : 6035 Sl : 5900 Closing Basis Target : 6340 / 6500 / 6770 Enjoy !
The last two weeks for NYMEX:CLG2024 were wild. We rallied around +10% due to geopolitical and macroeconomics events and the last three days we saw a retrace around -5%. Now to the technical part of the chart. Oil reacted to the volume imbalance (checkpoint "1") pushing price to go lower . We are currently touching the bullish order-block (checkpoint "2") that...
Strongest moves are taking place around 7am - 11am EST. 15 min trend is lining up with the 1 hour CCI momentum 5 min TrendCloud signals are laterally printing money in for the new 2024 Trade Plan.
TrendCloud is a price action mapping system that turns your charts into a highly visual representation of 6 elements. Trend, Momentum, Cycles, support and resistance, and supply and demand across multiple timeframes. Here are 2 shorting oportunities that popped up in the TrendCloud Scanning System this morning. Soybeans and Crude Oil
76 target, trend line bounce. 1st day that NY Algos open the day buying OIL since NOvember 30th
Crude could be setting up for a nice breakout and is poised for a year of outperformance.
CL possibly looking for a move higher. Confirmed +Breaker on the Daily. Looking for an entry on the lower time frame for a long run to IDPA 20 where there happens to be relative equal highs. Random....
Preferably suitable for scalping and accurate as long as you watch carefully the price action with the drawn areas. With your likes and comments, you give me enough energy to provide the best analysis on an ongoing basis. And if you needed any analysis that was not on the page, you can ask me with a comment or a personal message.. Enjoy Trading... ;)