Contract highlights
Bullish on Crude oilNYMEX:CL1!
TVC:DXY
Right now as the Crude Oil prices are at *premium and technically we are around a strong support area I think we would see a rally somewhere between 67.5 and 72.5. However, this week, we have PMI and NFP news ahead so if the reports come out to support DXY, Crude oil might s
Oils last Hurrah till it heads back down towards $69Using history, EMA, Trendlines, and fibs I show that I believe oil will reverse course and start heading back down. This was just a relief rally like in the past as shown before it dontinues the downtrend.
Repairing the Damage. What's Next for Oil?The chart above is continuous front-month Crude Oil futures. We are referencing the July contract below.
Crude Oil (July)
Yesterday’s close: Settled 77.74, up 2.21
WTI Crude Oil futures notched a fantastic start to the week, gaining 2.93%. It is no coincidence the gain comes on the heels of a
CrudeOil**CrudeOil:**
This week's forecast is for the price to rise in the middle of last week's downward movement and reverse the trend towards the bottom of the channel.
CL1! Oil Setup On The WeeklyCL1! is setting up nicely on the weekly time frame continunity with a hammer in place to indicate a possible reversal over the coming few weeks. RSI is sitting at 38.41 and MACD is falling. Let's watch to see when the MACD closes to show support of a continuation. The Slow Stochoctics indicator is b
CRUDE OIL (CL): Weak Momentum Likely to Persist?Assalamualaikum wbt and Good Day to fellow traders!
From my rather simplistic view, the overall two-hour time frame (TF2hr) chart seems to indicate that the prices for WTI Light Crude Oil ( NYMEX:CL1! ) could go further south at least for the time being.
The further potential weakness is being rei
WTI CRUDE OIL: Oversold offers a buy opportunity.WTI Crude Oil has turned oversold on its 1D technical outlook (RSI = 29.383, MACD = -1.620, ADX = 31.641) as the price is approaching the bottom of the 2 month Channel Down. As long as it remains under the 1D MA50, the long term trend will be bearish but the oversold conditions and the 1D MACD, whic
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MCLN2024
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Frequently Asked Questions
The current price of Micro WTI Crude Oil Futures (Jun 2024) is 79.80 USD — it has fallen 0.32% in the past 24 hours. Watch Micro WTI Crude Oil Futures (Jun 2024) price in more detail on the chart.
The volume of Micro WTI Crude Oil Futures (Jun 2024) is 2.88 K. Track more important stats on the Micro WTI Crude Oil Futures (Jun 2024) chart.
The nearest expiration date for Micro WTI Crude Oil Futures (Jun 2024) is May 20, 2024.
Traders prefer to sell futures contracts when they've already made money on the investment, but still have plenty of time left before the expiration date. Thus, many consider it a good option to sell Micro WTI Crude Oil Futures (Jun 2024) before May 20, 2024.
Open interest is the number of contracts held by traders in active positions — they're not closed or expired. For Micro WTI Crude Oil Futures (Jun 2024) this number is 23.96 K. You can use it to track a prevailing market trend and adjust your own strategy: declining open interest for Micro WTI Crude Oil Futures (Jun 2024) shows that traders are closing their positions, which means a weakening trend.
Buying or selling futures contracts depends on many factors: season, underlying commodity, your own trading strategy. So mostly it's up to you, but if you look for some certain calculations to take into account, you can study technical analysis for Micro WTI Crude Oil Futures (Jun 2024). Today its technical rating is neutral, but remember that market conditions change all the time, so it's always crucial to do your own research. See more of Micro WTI Crude Oil Futures (Jun 2024) technicals for a more comprehensive analysis.