CL
CL is about to hit the monthly down fib extensionCL is about to hit the monthly down fib extension and monthly support. I am expecting a low to form and the market to push up toward 60.00
oil, cl, day trading for Mar 18th 2020A down move over the early session moves below prior support levels and sets up a move into teh higher teens. Will be watching for any type of bounce and if this bounce fails will be hanging my hat on the short side. also will get short on a impulsive move down that gives me a pause to jump on.
Lower target 17
Please look at your chart and the usoil TV chart I have cl numbers coming in .40 higher than TV
oil, cl, day trading for Mar 17th 2020We are still trying to test lower and that is what I would have as primary dirction for the day, but this will come with some decent bounces on the way. Watch the red zone and be ready to react to what the market tells us. In this market targets can come fast.
cl, oil, day trading for Mar 13th 2020Today we are in a very big consolidation, and inside that have to be thinking back and forth so as oil moves up to red zone and or the first blue target I will be looking to short oil, this can be a day trade or a longer time hold, however much over first upper blue target the bear maybe dead and oil could take off so play safe if a swing trade. and always when a day trade.
Also in the event a move down to red bottom will attempt a scalp back to red high.
oil, cl, day trading for Mar 12th 2020Well interesting day in front of us and oil will do it's part.
Looking lower for oil and it might come after a bounce or on a down rip, will be ready for either idea.
As always the Red zone provides many many clues to how the day action will be.
cl, oil, day trading for Mar 11th 2020Oil did what i mentioned yesterday and chopped inside a small range, now that range has expanded and looks like will still be choppy. Choppy until some real news is my thinking. when it break a few fast points will come in on either side of the balancing zone.
So today will look for longs near red bottom and shorts near red top.
oil, cl, day trading for Mar 10th 2020Oil could be moving into a multi day smaller range consolidation so watch for a day of tight smaller moves. On the other hand if it breaks the consolidation a good sized larger move could easily happen so do not get caught thinking you know what will happen in oil. Play the action and the reactions. right now we are finding support that is decent around 32 and is an area I will be stalking for longs bounces to top of range.
Oil is in a critical area nowOil in a critical area is a very important support and we should not break it as shown in the drawing at 49.41, and we should not close below it
Where would the negative target be if a break occurred?
The first goal will be 42
The second goal is 33
CL Monthly time frame. Will it rallyThe CL monthly time frame is holding on support. If support holds, the research shows the market can push bullish towards future resistance around 60.00.
oil, cl, day trading for Mar 9th 2020WOW, it finally hits and take us to completely new levels not seen in years. and look like a retest of that low from way back then.
As always just follow the reaction around the red zone, and see if the impulses can guild you and not react emotionally to this drop. pretend it did not happen and react to what the market brings.
STOCK MARKET CRASH 20% on MondayCall it wishful thinking, but a 20.4% drop happened in October 16, 1987. If we do drop like that again here we will be at around 240 on Monday, THE GREY LINE shows some cross angular support & resistance there.
oil, cl, day trading for Mar 6th 2020Now that is a balance breaking down side move and is strong down side so gives me a bias to shorts, with a 42 target.
the best a up move I think could have is 46 and then back short.
cl, oil, day trading for Mar 5th 2020today we remain in the consolidation and will be looking for consolidation type trades. but will be ready for the bigger unbalancing move.
So long in the area of the red bottom and short from the red top area.
oil, cl, day trading for Mar 4th 2020Today not even going to talk direction or targets, we are inside the red zone consolidation until we are not, and when we are not that is very important information. So i will be looking for trades using the sloshing of the market until one end of the tub over flows.
wti, oil, cl, day trading for Mar 3rd 2020Well oil has bounced up some and needs to show us it wants to go higher before getting long today. The range for the day is plenty large enough for good R/R trading from the red highs and lows, but watch for impulsive action near these levels. My gut ( for what it is worth) says oil will move higher , but always be ready for the down side test as it looks for those long term buyers.
cl, oil, day trading for Mar 2nd 2020today looking at a bottom side consolidation that needs to break for directional info, however the range is wide so some very good inside trades can be had today, so follow the impulses.
Time to wait on Crude Oil by ThinkingAntsOkToday we will analyze a weekly chart after the price reached our expected target.
The way we analyze the chart is focused 100% on identifying major support resistance zones and forecast the possible scenarios there, either for a reversal movement or a continuation one. Also, we support our analysis by looking at similar situations in the past and understanding what the price did. Without further ado, here is our view on Crude Oil.
a) The price is on a Major support zone. We can see in the past how the price reacted there several times
b) Based on the previous scenarios, we can see that before breaking the current level, the price formed a weekly corrective structure of 2 months duration.
c) Our Short Scenario will be to wait for a clear corrective structure with a similar duration of the previous one, and then we will aim to develop trades to the next support zone at 27.47
d) Our Long Scenario needs the price to reach the 54.5 zones; there we will wait for a quick reaction on a lower timeframe such as 4HS and, we will aim to develop long setups towards the next resistance zone at 61.95
e) We are Swing traders that means that we are focus on catching trends and not inner movements of corrections. That's the reason we wait for clear setups that present high-quality opportunities.
f) Check the link to related ideas if you want to keep learning the way we trade crude oil, Have an amazing week!
cl, oil, day trading for Feb 28th 2020Today will tell a interesting oil tale on where oil wants to go, so will be watch the red zone for my first clues. Has been a wild week and we could stall for a chop today but be ready to respond to a big reaction.
We are still under the short line from yesterday so still leaning short.
oil, cl, day trading for Feb 26th 2020oil is finding new lows it has not seen in a very long time and for now will not post any lower targets below the ones on the chart, however look out below if the blue lines do not hold.
Will be seeing if the up side can gain any strength today on inventory numbers at 10:30
