CRUDE Analysis - Continuous, Just as the Markets !

Updated

This is a Thread, so Follow for Technical Analysis performed with TrapZone Pro & Unusual Market Volume Detector (UMVD) Indicators.

* Trend is Based on TrapZone Color
* Bar Colors give us Momentum Green from strong Up Moves. Red Bars point to strong Down Moves.
* Red UMVD = Selling Pressure & Green UMVD = Buying Pressure. Purple is for Divergence = Battle of Supply & Demand

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1-15-2024
DN trend with Red TrapZone but Green UMVD at the moment. Price has not retraced deep to the top of the TrapZone and we have RED Bars indicating strong downward price momentum

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1 second Renko settings for Intraday look. Looks bearish as well.

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Daily shows the reason for volatility. all conflicting signals. Green TrapZone, Red Bars and Red UMVD. small sizes and short targets. No homeruns

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Green TrapZone and Green UMVD at the moment

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Trend DOWN with RED trapZOne, Buyers trying to support with GREEN UMVD. If we get RED UMVD, prices may slide fast.

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Green TrapZone, however selling started from Divergence in UMVD. Lets see if GREEN Comes back or Not

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Latest Intraday - Price are getting support from GREEN UMVD

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Latest Intraday - Price are in small trend cycles with UMVD dictating direction. Overall CHURNING higher

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Hourly Check In - Prices are headed to a resistance area. we could be there next week. Also GREEN TrapZone is supported by the GREEN UMVD.

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Latest Intraday

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Latest Intraday

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Side By Side Analysis - Gray Bars on Hourly suggest stalled down momentum. Short term also shows spurts of Buying. Trend is still side ways on the short term. Keep an eye for a Quick retrace ?

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Looks like a reversal than a Retrace

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We are consolidating around 77 as expected and we may break higher as Buyers have good effect on the price. See Renko for better resolution on UMVD.

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Retrace happening after trapping a few Buyers.

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Crude respecting the UMVD on the Short Term Renko Chart

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Hourly Technical Analysis Check In
Current UP Trend may just be a Long winded BEAR FLAG. but at the moment Buyers - shown by the UMVD are moving the price up with angle 4 in place.

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