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CL

Potential LONG CLAfter the huge sharp decline in the price of oil from recent highs of 64 due to supply and Corona Virus concerns. We are currently sitting on yearly support level for oil. Volume has still been extreemly strong to the downside, so price may even break through from here, but if the street feels that prices have been a bit too oversold, we can expect a nice corrective wave up before attemtping to further break this huge resistance at 51.00 Waiting for strong volume to come in to confirm price movement up 2 Poisitons 1 1:1 1 BE at 1:1 with an aggressive SL trail
NYMEX:CL1!Long
by amirtrades
Oil Prices Continue Fall as Fears of Coronavirus IncreaseNYMEX:CL1 Crude Oil – Weekly Report Crude has continued its fall at the end of last week seeing prices down just over -4.5% for the week. Much of the selling and fear within the market last week did come from growing fears of the Coronavirus within the China region. Although there has been no direct affect to oil production by the Coronavirus, there has been a rollover affect seen by investors as many investors seek risk-off which has also been seen in global equity markets. Yesterday’s sessions saw this with the S&P500 down -1.77% at the end of the session. Crude Inventories released by EIA show a slight build up 3.5 million barrels. This is the first build in more than 3 weeks.
NYMEX:CL1!
by OilReporting
oil, cl, day trading for Jan 29th 2020The action is balanced long and looks to want to move higher as long as red zone bottom holds. down side has some very close targets so a move down could be just a peak below to see if there is any action so watch for buys around these areas if short. The move above red high has more aggressive targets and looks to me to be where the bigger moves could come. In the event we move down into Mondays range then I say the long side is done for a bit in a bigger picture.
TVC:USOIL
by alleytrader
1
cl, oil, day trading for Jan 28th 2020Today we have a up move inside a balancing range so will be look at 2 things, 1) a move below the top dashed line for a trade back to bottom dashed line and possibly to the Red zone bottom. If Red bottom break then a move through to 52. 2) is a move above the top of Red zone or a bounce of top dashed line for a run to 55. 3) A consolidation day looking for the longs off bottom and shorts off the top. Ask me question if you need more info on how to play the different ideas.
TVC:USOIL
by alleytrader
Short Setup on Crude Oil Futures by ThinkingAntsOkUse this asa guide to develop your setup: Main items we can see on the Daily Chart: -The price was rejected from a major resistance zone. -The ascending channel has been broken. -Currently we can see a corrective structure (continuation pattern). -Our forecast is a continuation of the bearish movement towards the next support zone. -We will trade this instrument as it is shown on the char. -We will cancel this trade if the price goes above the stop zone.
NYMEX:CL1!Short
by ThinkingAntsOk
1
oil, cl, day trading for Jan 24th 2020Oil is balancing as it gets ready to tell us what it plans next. not only is this info critical for the day trade ( that is fine just staying in the Red Zone for back and forth action) but also critical for the oil big picture trade also. I targeted oil down to 56 area before big decision time and now we went a little lower. On the chart are lower important big picture supports. So all this said will trade the balance unless the oil market picks a side by moving out of the Red zone.
TVC:USOIL
by alleytrader
Short Setup on Crude Oil Futures ( CL ) by ThinkingAntsOkUse this as a guide to develop your personal view and always take your conclusions. Main Items we can see on the 4hs chart: a)The Price was inside an ascending channel and made a reversal movement on a Daily resistance zone (check the daily chart) b)Currently, we can see a corrective structure that has been formed in the middle of the lower trendline of the channel. c)If the price breaks below the structure, we will consider that as a confirmation that the bearish movement has started d)Our Target will be the next support zone at 51.5 e)If you are planning on taking a setup on Crude oil, make sure you give enough distance below the structure to avoid fake outs. Also, provide enough distance to your stop loss above the structure. The final Ratio of this trade is 1.8 more or less, which gives us an excellent risk-reward ratio. Daily Chart:
NYMEX:CL1!
by ThinkingAntsOk
USOIL Look Ahead for week starting 1/19/20The future USOIL, symbol CL, is in a Bear Market with price trading above the 50 ema, which is below the 200 ema, which is below the 800 week ema. The long term emas are mostly flat, indicative of an accumulation / distribution zone. Price has closed below the 13 ema at 58.85 on the weekly, so therefore, the Bear Market Rally can be considered over. Last week was a red bodied candle with a long lower wick, which is known as a Hammer. Hammers are bottoming candles that have to be confirmed by the next candle trading higher, preferable a long green candle. Price action tested a long term trend line, but did not close below it. The larger cycle period length Elliott Wave implies a rally above 66.58 to complete this primary b-wave. The Market is in a Bear Market on the daily, with price below the 13 ema and the 50 ema which are still above both the 200 and 800 emas, but the 200 ema, at 57.81 still below the 800 ema, at 58.36. Price broke below a long-term trend line last week, implying a potential trend change. A likely down side target for this x-wave sell-off are the 200 and 800 emas. We’re still in an downtrend as long as each day closes below the 9 &13 emas at 59.48. We got a couple dojis as part of a morning star pattern last week, implying a potential bottom. With the emas flat and as close together as they are, we are likely to see a lot of trading range activity, stop hunts, and all kinds of other malfeasance until the Real Bottom on this x-wave gets put in. This is the kind of market that chews up trading accounts. The Market is in a deep correction of a Bull Market on the 4 hour, with price below the 30 and 50 emas, which are above the 200 ema, at 59.51, which is above the 800 ema at 57.83. Price would have to close back above the 9 & 13 ema, at 58.53 to consider the correction over. The way this market is trading expect a retest of the lows… This is my USOIL look ahead for my own trading purposes. FUTURES trading involves risk. Feel free to comment, but trade off of this post at your own peril.
FX:USOILShort
by Cincinnatuus
/CL Crude oil shortLast Week made a huge bearish engulfing candle on big volume, so looking for continued weakness in oil. Currently in a descending channel after mid-east tensions have subsided. Market still seems to be slowly zig zaging down in this channel, perhaps waiting for a catalyst to continue further down. Aiming to enter at top of channel with confirmation of weakness and looking for targets at 56.50 and 56.00 Must be weary, oil has been making wild swings in smaller ranges
NYMEX:CL1!Short
by amirtrades