Crude**CrudeOil:** This week's forecast is for the price to fall to the bottom of the channel and reverse to the top of the channel.Shortby simaoxceps110
Crude Monday Drab Bias and ForecastI am HTF bearish on Crude OiL I have PD arrays marked out that should be respected if market was to retrace and take some BSL. The targets for today are Lows marked out. Pretty simple. Stay bellow 1hr fvg and 1hr -OB = BEARISH Close above the 1hr FVG start looking for short term BSLShortby IamThattraderUpdated 0
WEEKLY FOREX FORECAST: NASDAQ, SP500, DOW, CRUDE OIL (Part 2)We are covering the indices and crude oil in this video. Providing analysis for the week of June 3-7th.20:00by RT_MoneyUpdated 110
#202423 - a weekly price action market recap and outlook - oilGood Evening and I hope you are well. wti crude oil futures Quote from last week: bull case: Bulls rejected 76 area 4 times now. At some point one side will concede and we see a bigger move. Patience pays. Bulls want retest of the daily 20ema and bear channel next (78.8). Afterwards break above the bear channel. Bears had two clear pushes down and now a tripple bottom. I think they will give up and market trades back up again. But I wait for clear confirmation on this. comment: Here is also my comment from last week “Market in total balance 76 - 80. Buy low and sell high. Right now I prefer a spike below to around 75 which bulls gladly buy and we then trade back to 83 over the next weeks. Invalid below 74.” Nothing changed in Oil. Bulls got a very small spike above 80 which was rejected again and we are 77 again. Play the range until we get a breakout with follow through. One funny “coincidence” is that the 50% pull-back from the 2021 low to the 2022 high, is about 78.3 and now guess where the freaking 50% pb of this trading range is. Market is always giving some hints. Learn to spot them. current market cycle: Trading range key levels: 76 - 80 bull case: Ascending triangle with around 4 highs and 4 lows. Market is in breakout mode and will probably test lower or higher prices next. I have absolutely no idea where we will break out first so just do the high probability thing here, buy low and sell high when you see good signal bars. Bulls see this as the lows of this trading range and want to reverse here for at least 80 again. Invalidation is below 67. bear case: Bears sold 80 again and will probably take profits here at 77 or try to get 76 again. If they get a breakout below, we will probably test 75, which is a price I thought we would test for 5-7 weeks now. It’s a bad sell here at 77 for bears so best they can get is sideways movement. Invalidation is above 80.5. outlook last week: “Kinda neutral 76 - 80. Clear trading range with tails above and below. Market in balance. R:R here is with the bulls for test of daily 20ema at 78.6 again.” → Last Sunday we traded 77.72 and now we are at 76.99. High of the week was 80.62 and I said we will probably at least hit the daily ema again. That was a perfect outlook for at least 90 ticks but could have held til 80 or higher. 80 Would have been 228 ticks. Hope you made some. short term: R:R is on the bull side here at the bottom of this range. I wait for confirmation on Monday before going long for 80 again. Below 76 we could get to 75 but that would require strong momentum for me to go short down here. medium-long term: We are seeing the big triangle playing out between 73 and 83 (could also be 87 but for now I see the spike above 83 as a failed breakout of the triangle and now we test the lower trend line again. —unchanged current swing trade: None Update: removed bull flag/bear trend, whatever you want to call it. It’s the same and you trade it the same. Added expanding triangle trend linesLongby priceactiontds0
Crude Steps and Forces- 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 forces pushing the price up or down This snapshot considers the bullish scenario where the price remains above 66, with potential reversal patterns to occur near the red rectangle zone.by nenUpdated 0
Mastering Top-Down Analysis: Spot High Probability SetupsDiscover how to elevate your trading game using a powerful top-down approach across multiple time frames. Using real-time examples from Oil Crude Futures, you'll learn to identify the key price signatures that signal high-probability entries. Gain valuable insights on: Implementing a top-down analysis to spot lucrative trading opportunities Recognizing specific price patterns that indicate optimal entry points Setting realistic trade expectations and defining your targets Framing your entries with precision on lower time frames Long31:14by LiquidityTrackerUpdated 0
OilThats what i tihnk will hapend on OIL, Technical analysis is based on MTF AnalaysisLongby andy4444_0
Crude Oil, Not Out of the Woods YetThe chart above references continuous (front-month) Crude Oil, below we are discussing the July contract. Crude Oil (July) Yesterday’s close: Settled 79.83, up 2.11 WTI Crude Oil futures cleared the psychological $80 mark, but can it settle above? A major catalyst to start the week was strong travel demand data from the U.S. over the Memorial Day weekend and from China of late. We also believe geopolitical tailwinds are more relevant than headlines may give credit at the moment. Ultimately, weakness last week came on the heels of the White House announcing a release of Gasoline reserves ahead of the weekend and this was quickly shaken off and further helped create a technical bottom at a critical area of support we have been highlighting. Still, price action is not in the clear, and we find it a good time to monetize some of this move at least if you’ve been able to capitalize as it is testing major three-star resistance at 81.15-81.28, aligning a gap with the 50% retracement back to the April 12th high. Additionally, the 50-day moving average comes in at 80.84. Bias: Bullish/Neutral Resistance: 81.15-81.28***, 82.03-82.34*** Pivot: 79.97-80.11*** Support: 79.46-79.61**, 79.01-79.05*, 78.66-78.78***, 77.72-78.05*** *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.by Blue_Line_Futures0
Wednesday Forecast Crude OilWe had a very expansive two days From the Bank Holiday Monday and Tuesday. I do expect the market to slow down a little before we start to move higher to 81.50 as long as price stays above the 1hr fvg and the 1hr +ob my bias will be Bullish. If we close bellow these pd arrays then a retracement is in order and different targets will have to be looked at. Pretty simple Longby IamThattrader0
Oil - BUY Out of Bounds FTLMA Bands at bottom band Retrace Over Extended Double Bounce on Support Aggressive Entry Passive Entry After pull back into Fair Value Gap + Continuation Nice Order Block Below Has been pushing down all week really Could well be heading for that Lets See : )Longby NZ_SharemanUpdated 1
A Bottom In Crude Oil?Crude Oil (July) Yesterday’s close: Settled 77.57, down 1.09 WTI Crude Oil futures are showing renewed life this morning, trading nearly 2% from the low through Asia’s open. In fact, commodities broadly were hit sharply during that timeframe. Soft economic data and hawkish Fed speak have been a headwind this week, but less of a draw than expected on yesterday’s weekly EIA inventory report and news that Russia overproduced in April brought additional market pressures. Have we hit peak pessimism? WTI Crude Oil futures tested and responded to a significant area of support overnight, potentially building out the right shoulder of an inverse head and shoulders going back to May 8th. As today’s session unfolds into the final day of the week, we believe continued price action above our Pivot and point of balance at 78.08, the .382 retracement back to the 80.11 high, will help invite fresh buying. Bias: Neutral/Bullish Resistance: 78.33-78.47***, 78.86-79.04***, 79.34**, 80.09-80.11***, 81.28*** Pivot: 78.08 Support: 77.35-77.60***, 76.63-76.82**, 75.70-76.46****, 74.66-74.70** *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. by Blue_Line_Futures0
Light Crude OilLight crude oil, with the fall of several months and the price correction, is now close to the main support and the past purchases made by investors. who have placed an order will approach and make a loss, and by following their analytical and investment path, you can achieve a good profit in the long term. SashacharkhchianLongby sashacharkhchian0
Can Crude Oil Futures Breakout?Technical Momentum Weakens Crude Oil futures are declining in 2024 after correcting to the 200-day moving average at $77.55. The technical perspective shows momentum studies recovering from oversold territories, while the 9-day moving average is trading below the 18-day. DMI- is above DMI +, indicating that the market is in a correction phase, while the Average True Range declines to $1.46 daily. API Inventories Rise API Inventory has increased recently, indicating a more relaxed supply picture. Recent API inventory data shows a build of 2.5 million barrels. The current EIA inventories are 457 million barrels, compared to the five-year average of 475 million barrels for this period. Cushing stocks in the Midwest show 35 million barrels in inventory versus a five-year average of 43 million barrels. An Expanding Economic Tailwind The U.S. economy continues to expand in 2024, driven by the high probability of a soft landing, which fuels investor sentiment. Geopolitical tensions have eased recently; however, there is the possibility of a widening Middle Eastern conflict in the future. Traders will remain focused on inflation data, inventory productions, and the direction of economic data. 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.by Phil_Blue_Line0
Crude Wednesday Pre NewsSo this is the forecast for Crude pre 1030est news. I'm favouring some BSL to be taken if the 1hr FVG gets disrespected. With 1hr fvg above and the BSL that is pointed out with the arrows. If we show rejection from the 1hfvg we are currently near then PDL will be the target. With news there is no certainty. Overall I am HTF bearish however a sweep on BSL could be on the cards today. by IamThattrader0
Buy oil stocksBuy oil stocks as described in the analysis provided and follow the steps specified in Stop Loss and Take ProfitLongby aboubakkrhajjamielidrissi0
$80 Headwinds, Any Hope for Crude Oil?Crude Oil (July) Yesterday’s close: Settled 79.30, down 0.28 WTI Crude Oil futures started the week unenthusiastically with a failure at the psychological $80 mark that aligns with a key .382 retracement and fell short of pinging the 50-day moving average. OPEC+ instability was downplayed after the death of the Iranian President on Sunday, while prices have been in a downtrend since peaking on geopolitical tensions through mid-April, and seasonality concerns persist after the Memorial Day holiday. While we still see value against our critical area of support highlighted below, a continued test erodes confidence. Bias: Neutral/Bullish Resistance: 78.59-78.76**, 78.99*, 79.35-79.67**, 80.09-80.11***, 81.28*** Pivot: 78.25 Support: 77.65-77.86***, 77.26**, 75.70-76.36**** Check out CME Group real-time data plans available on TradingView here: www.tradingview.com Disclaimers: 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 www.tradingview.com *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. by Blue_Line_Futures0
CL1! Looks like a BUY to me Wycoff pattern generally quite reliable I'd say 80% Just had quite a big pull back by NZ_Shareman1
Monday Crude Oil The first intra day bias will be 78.70 which has eql's Simple as that.Shortby IamThattrader110
Crude**CrudeOil:** The forecast for Crude this week is for the price to fall to the 76.43 level, that matches with a lost pivot.Shortby simaoxceps1
[Commodity] Crude Oil Buy IdeaNote - One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all. ======= I use shorthands for my trades. "Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.) "Intraday" -means You must close this position at any cost by the end of the day. "Theta" , "Bounce" , "3BB" or "Entropy" - My own systems. ======= I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share. ======= Like - Always follow a stop loss. In the case of Intraday trades, it is mostly the "Day's High". In the case of Positional trades, it is mostly the previous swings. I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivativesLongby Amit_Ghosh1
Crude Oil Weekly Analysis- 20th to 24th May 2024 Over view As per my previous weekly analysis, Crude oil had great ride from beginning of this year and paused from previous month. Fortunately this was necessary for having further movement. We can consider the previous month process was retracement thus by expecting further movement in upcoming weeks. Any small bounce from this level would be great bullish indications for good week ahead. Weekly TF Price has exactly reacted at 0.382 Fibonacci level which is good sign of bullish continuation. Good green candle formation after doji formation & crossed 50 EMA Day TF Trend: Upward range with 3 consecutive support(HL 01, HL 02, HL 03). Now HL04 has been created and rejected at same level by creating double bottom. Inside candle breakout has been found after creating Doji & Bullish hammer. Price has been rejected from crucial key level 0.5 Level rejected in Fibonacci Buy: Entry 01:6691 Entry 02: 6962 Final Target expected: 7235 Direct Gapup/Gapdown entry should be avoided Get confirmation from any of the leading indicators before entering trade Kindy comment below in case of any clarification required on this particular idea. Please follow for more ideas MCX:CRUDEOIL1! Longby kiranpatilblt1140
One more shove lower before blast off? The structure on Friday shifted into corrective looking waves, so I won't be surprised by another shove lower into fib support before the next meaningful run higher commences. If it goes up directly from here I will have some head scratching to do. by bcindc111