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CL-OIL

CL-OIL

oil, cl, day trading for Dec 17th Oil keeps pushing to the up side and has a nice possible bullish formation, so will be watching a break to the red zone for direction from here. a move back into yesterdays pricing should see a fast move to 60. A trade is there based on the red zone break.

Updated

oil, cl, day trading for Dec 16th oil has been moving up and working in a smaller balance near the current price highs, I will be looking for long trades as long as red zone bottom holds. A few top side short term targets are marked off screen above. If red bottom breaks then would expect we go back to prior distribution around 59

oil, cl, day trading for Dec 13th (Friday)Oil had that breakout of the range as I expected was coming soon and now the important level is if we hang out above this prior level top or move back down inside the prior range. This is the area we are testing as of this writing and is also the level I will be looking to trade long off of. It is a good level due to the defined risk reward levels.

cl, oil, day trading for Dec 12th Everything I said yesterday still applies today so look at link below

oil, cl, day trading for Dec 11th Oil is trading inside yesterday and is in a tight consolidation. I will be looking for a decent sized move out of this range and today oil report could be the trigger. My plan is simple watch the red zone for a break and trade small and inside until the break happens.

cl, oil, day trading for Dec 10th Oil is trading in about a 1 point range and this can be a good back and forth day trade, and if oil does not break the red zone then back and forth is my game plan. Will watch action at red top and bottom and will look for failure at each side for a reversing entry.

cl, oil, day trading for Dec 9th oil has been drifting down and I think we will see a pop back up and if this is right will watch the 58.85 area for rejection if we keep going up then the point the bulls take back over is 59.30 and this I thinks takes us to 59.90. The second idea is the open is a drop of the small test to 58.85 and then we make a move to 57.80. so will be watching to see if either of these ideas will play out and when I think they will is where I take my trade.

oil, cl, day trading for Dec 6th oil is inside a upper distribution and looks very comfortable, we will need a drop below 57.4 to be called bearish by me. and a move over 59.12 I will call very bullish. I will be looking for a range bound day if we remain inside this consolidation.

oil, cl, day trading for Dec 5th Oil is presenting bullish, and today's oil report should be very interesting, will be taking oil easy thinking little will happen prior to report. I see 58.50 as a very important level today and will remain bullish above that level.

Updated

cl, oil, day trading for Dec 4th oil is currently trading in a transition zone between two recent distributions and will have to make a choice between one or the other. if oil breaks from the red zone today then the first blue support or resistance will be a very likely target for either break. I will be looking to trade a range day inside the red zone until a firm break of this zone is established.

Updated

oil, cl, day trading for Dec 3rd Oil looks to be continuing its down move and is already below the red zone, so will be looking for spots to grab it short as long as we remain below the red zone.

oil, cl, day trading for Dec 2nd After a big down move on Friday we got some retrace back up, but is comes with no consensus so will still be watching for teh traders commitment to direction, I am looking at things with I guess 2 over / under lines one at 57.07 and the other at 54.85 and as normal the opening red break zone. How e act at all these levels will be the information i will need to make a day trade decision.

Updated

cl, oil, daytrading for Nov 27th oil is testing the high of a few days back, and if we break over those highs a balancing top for today would be 59.5. so a big move. This being a limited action week I do not see this as highly probable, but anything can happen. A break lower I expect to be a slower choppy trade filling in action through out the prior move.

cl, oil, daytrading for Nov 26th oil is inside a multi day range and is testing higher, and if we get a higher break the 59 area is a possible test area for today. Any move lower has many layers of support and each one will need observation to see how the market response.

Updated

cl, oil, day trading for Nov 25th We are so far in a inside day in range and showing signs of a small movement for the day. I will try and catch inside reversing trades and reduce size on opposite red zone but hold on to see if there is a break out of the red zone for an extended move.

Updated

oil, cl, daytrading for Nov 22nd The oil moves are very bullish and i will be looking for a pull back to 58.40 area for a triggered long. Or a break above 58.75 and then a support retest.

Updated

oil. cl, day trading for Nov 21st comments are marked on the chart.

oil, cl, day trading for Nov 14th Oil remains bullish but is reaching some resistance and the up move will either explode or stall. will look long if top red zone becomes support. and short below red zone showing a few support areas that could keep the bull alive. remember oil inventory report today at 11:00 est so play safe.

oil, cl, day trading for Nov 13th oil has moved to the bottom of its bigger range and we get to see if that is support or further weakness steps in. The test off the bottom of the red zone or a break above red top both could be good trades back to the 57.5 area and we will still be in the consolidation. As of this typing a bigger up move is happening and will give a clue as to further strength or exhaustion, will watch close for clues.

oil, cl, trading for Nov 11th oil action is short but in range and balanced inside a larger consolidation. We have a small and large red zone, one for the big consolidation and then one for the last hours of action. bit one is 57.60 to 55.75, I will be looking for trades to remain inside the big range and will use that as targets and or entry points till we move out of the range.

oil, cl, day trading for Nov 8th the short term trend is short but the bottom of the red zone will either stop that trend or confirm today's direction so that is where my focus is

oil, cl, day trading for Nov 7th Nice bounce in oil keeping it inside a big range, creating what i think will be a very sideways day. A break below red zone low should see a move to 56.65 that is about the only edge I have today in oil.

oil, cl, day trading for Nov 6th The current move is a bit short but balanced, so thinking we will open test top of balance or a bit higher and then move down to test the red zone bottom. I maybe waiting it all out until post 10:30 report and see what side gets the driver.

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