If prices continue to struggle going bullish after inventory
or week come in red. I expect prices to drop into mitigation and if that happens you will see an explosive move on oil.
Otherwise, they should take buy side liquidity @70.77 and come back into internal range (mitigation/volume imbalance)
Mind you, if the fed also cuts rates today that will weaken...
1.30.24 In this video I try to outline what it means for the market to expand thereby be coming more tradable. Yesterday oil had a two bar reversal to go lower... but it closed at the support area of a range box... and today it's an opening price trade to short... so it really has to start to move lower or this market should be exited with a small stop. But I...
Crude Oil price have remained sharply range bound for the last two months. CME Group’s West Texas Intermediate (WTI) futures have traded between USD 70-80 a barrel since early November last year. Sharply shifting supply and demand outlook explains range bound trading in crude oil.
In this paper, we discuss diverging factors affecting crude oil price and...
Sharing CL update from TTR.
Will be updating CL once a week or so.
CL is trending above its 5EMA on a daily level; first support sits at 76.10, and the main support is at 74.55±
The main target is above 82.50
Bullish trend was just started imo
Looking for for demand in a 15 min zone and will trade on 1 min timeframe
CL is coming back (come around trade) to breakout from a rounded bottom.
This is a trade on an 4hr uptrend and the breakout that allows room for a 3-5X return
Crude prices struggled in 2023. Although major production cuts were implemented by OPEC member countries, the USA has ramped up production, and concerns about global growth have emerged.
While economic growth and demand remain a headwind moving forward, the question is whether crude is trading at fair value or if it may be undervalued.
Inventories and...
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... ;)
Price action has been very choppy on the daily crude oil chart, but if we place a line chart over the top is shows prices are trying to break out of a small triangle / pennant. Whilst these are usually expected to be continuation pattern, they can also make decent reversal pattern. And this case, we've see prices hold above $70 on a closing basis, and the lower...
Good evening and i hope you are well.
wti crude oil
Here my commentary from last week:
If you have read the gold one, this one is self explanatory i think. Market is compressing prices and will soon break out. Which direction? Guess. Your’s is as good as mine. I won’t say more about it. Breakout will come soon, so if you haven’t played the range so far, you...
With the slowing of oil production
and conflict at the Nile, I think that oil prices are
going to increase, if the fed decides to cut or leave interest rates unchanged
this may weaken the USD and strengthen other currencies creating more demand for oil
and if inventory continues to lessen you will see a further surge in oil prices.
otherwise, if the fed...
Mega-cap tech’s climb to jumpstart 2024 fooled many strategists who called for value, cyclical, and small-cap niches to outperform. The same old playbook has been in full swing, but could that be about to change? Consider that banks, not chips, ended this week at fresh multi-year highs following a late-week pullback among the big semiconductor names.
But there’s...
WTI Crude Oil break above supply zone after sideway for 50days +
on the breakout day price move very strong and close almost full candle
I use Volume profile VAH that should act as support after breakout
RR = 2
Light Crude Oil Futures corrected sharply at the end of 2023, however finding strong support levels from which a new upward trend may start. As long as the green trendline acts supportive, a longer-term buy-signal is active.
TrendCloud gave us a huge win on the Micro Crude Oil this week.
4 hour trend is up
1 hour trend is up
Momentum was also up on both timeframes creating the perfect storm.
TrendCloud Signals on the 5 minute chart were sent directly to our phones and alerted us to the trade.
Multiple winners on Crude Oil all through the week.
If you want the exact trade plan...
Good evening and i hope you are well.
Here is a quote from my substack on Monday about oil:
"Most interesting market today. I do believe its a breakout of the bear channel, beginning 2023-09, if bulls can generate follow through tomorrow/Wednesday. The trend line on higher time frames is more of an area than a narrow line with exact prices. But we are there and...
