Let's see where we are by the 5-7am EST window. This view is a combination of Elliott Wave analysis and supply/demand zones. Can be a powerful combo for scalping.
Technical Momentum Weakens
Crude Oil futures have stalled after rising in 2024 after trading at the upper price band of $88/barrel and lower price band of $84/barrel. The technical perspective shows momentum studies correcting from overbought territories, with the 9-day moving average stalling above 18-day. DMI + is narrowing in on DMI -, indicating that the...
Had a decent chance for a long setup, but this move today is pushing the limits on bullish structure. Now there is a clear setup for lower if this level breaks. LOB
The oil moves in an established area, if it touches 84 it will go up and if it touches 87 it will go down, until it is encouraged to establish new records, the key is to catch the same step as the oil to dance together.
Crude oil stabilized this week around $84 per barrel on the May 2024 contract, from which we are seeing some nice rebounds after recent events between Iran and Israel. There is a risk that this escalation will not be over anytime soon, so energy prices may remain in an uptrend, possibly heading for a higher fifth wave back above last week's highs. If the market...
Crude Oil (May)
Yesterday’s close: Settled at 85.41, down 0.25
Crude Oil futures have traded in a quiet range, going back through last week, outside of an early Friday morning geopolitical spike. A slate of economic data from China last night printed better Q1 GDP results at 5.3% versus 4.8%, but Industrial Production and Retail Sales whiffed. However, U.S....
Standard ratio between Elliott Waves 1 through 3 versus wave 5 is 618/886 zone, which is shown in an aqua box. Call the target the $92 region for wave 5 of some degree.
As in previous post on Sunday -
So we have dipped our toes into the weekly fvg
May leave a low in place here to raid it again later, want to see weekley CE respected.. as its London and Monday this could be the judas swing... wait for more info and cme or 830 open.
Any Longs from me will need market to show displacement on 15min or 1hr tf... no rush
-Oil prices fell during trade on Monday, as market participants dialled back risk premiums following Iran's attack on Israel late on Saturday which the Israeli government said caused limited damage.
-Brent futures for June delivery fell 20 cents, or 0.2%, to $90.25 a barrel while West Texas Intermediate (WTI) futures for May delivery were down 33 cents, or 0.4%,...
1- A dip into weekly fvg would be ideal before a meaningful push up towards the daily eqh's
2- I don't see why they would raid them so soon so that where my intra day bearish stance is.
3-Overall Im Bullish
4- Staying above Monthly open and the FVG next to it is key to remaining bullish, yes we can wick into these areas but most importantly is the body of the...
If the buyers are panicking, we will see a sizable gap up and continuation. Possible target to be seen this week: $91 to $92.65. Not advice, just some parameters.
In this video, I will delve into what to expect in the futures market for the upcoming week. I'll be covering the E-mini S&P, Nasdaq, Russell 2000, Gold, and Crude Oil. Here, you'll get an understanding of the market environment, key levels to watch, and essential indicators to help make informed trading decisions. The indicators used include Bollinger Bands...
