The trend continues for Crude Oil. Will it hit $94? Price is above the 50 and 200 daily EMAs. There are Oil Company stocks that may be impacted also. What out for news but the technical are leaning bullish.
NEAR TERM :: NEUTRAL
VOLUME STRUCTURE - NYMEX:CLX2023
So far, for the month of September, 70% of the trading volume for the November contract has occurred between $89 & $91.75, with the highest volume around $91.
PRICE ACTION
WTI strongly rejected prices above $92 & failed to make a subsequent new high.
A FEW FUNDAMENTAL FACTORS
- Seasonal Demand...
The price of oil consolidates after registering a fresh yearly high ($92.43) last week, but the move below 70 in the Relative Strength Index (RSI) may accompany a near-term pullback in crude to mirror the price action from earlier this year.
Crude Oil Outlook
The price of oil is little changed from the start of the week as it bounces back from a fresh weekly...
With everyone in the general media chirping about the rise in crude oil this year, I can't help but wonder why there isn't a massive wave of good news about how "low natural gas prices are". We all know the media loves to get attention and fear, uncertainty and anger work much more effectively at capturing the ears of a weary audience.
Wouldn't it make sense to...
Preferably suitable for scalping and accurate as long as you watch carefully the price action with the drawn areas.
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Based on the idea of liquidity seeking; the orange box represents the 50% retracement, the top of the previous order block, and the Fair Value Gap region.
I am short CL unless it breaks above the previous day's high.
I'll consider a long if the setup materializes at $84.
Preferably suitable for scalping and accurate as long as you watch carefully the price action with the drawn areas.
With your likes and comments, you give me enough energy to provide the best analysis on an ongoing basis.
And if you needed any analysis that was not on the page, you can ask me with a comment or a personal message..
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Details in Video.....took this as a goldfish entry....took profits quickly but wasn't suppose to. Price retraced a bit then proceeded to go lower later
Before recession oil always rise and fall after it get started
1 target 130$-150$
then we will see pullback lower 60$, possibly 40$
expect to see next recession in next 6-9 months
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... ;)
Oh my..I think something big is on the way.
Let's first look at what we see on the chart:
It's a long-term chart, where each candlestick represents 3 months. Why did I take 3 months? Because I wanted to see the big picture.
Look at the red frame.
This is a daily chart, and with all the candles going up and down like a rollercoaster, it's messy and will keep you...
Crude oil has been running since early summer, but there may be signs of a top.
The first pattern on today’s chart is the “shooting star” candlestick on Tuesday. Prices climbed to their highest level of the year before reversing lower. They dropped further on Wednesday, confirming the potentially bearish reversal pattern.
Second, CL1! has been at the top of its...
The Crude Oil short I mentioned has set up today on the daily chart 📉 I am long CL 91.00 Puts and have also taken some Event Contracts for today to close below 90.50 and 90.00. The setup originated from yesterday's close and the resistance level is now at 90.37. CL1!
To guide my decision-making, I'll be using the 5-day moving average, which currently stands at...
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... ;)
WTI Oil Prices Face Selling Pressure as Fed's Hawkish Stance Dominates
Western Texas Intermediate (WTI) crude oil prices are grappling with selling pressure, hovering around the $88.80 mark. The Federal Reserve's recent meeting and its hawkish stance have cast a shadow over oil prices, complicating the outlook for the energy market.
Here are the key factors...
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... ;)
