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Crude Oil Futures WTI (CL1!)

CL1!7.13.22 OIL Part 2 I think it helps to look at part 1 before you look at this video. The video speaks for itself because it shows similarities and also differences and this is helpful if you recognize the differences because you trade markets differently based on some of these patterns. Not all patterns and differences in volatility will be equal for you. You may find that you prefer some markets more than others and you'll become expert at those patterns, and you will be more comfortable with those patterns. If you're trying to sew up a hand laceration, it's a lot easier to do that with a magnifying glass then it is to do it with an electron microscope. On the other hand, now that I think about it, it's frequently easier to trade a 4-Hour chart then it is a 30-minute chart. The 30-minute chart has more data, but see for our chart shows you things did you will not see on the smaller time frame.... plus you have work time to take more coffee breaks with the higher time frame.
NYMEX:CL1!
by ScottBogatin
CRUDE OIL (WTI) Important Update 🛢 As I predicted, WTI Oil dropped nicely yesterday. The price formed a head and shoulders pattern. To catch a bearish continuation, watch 100.3 - 102.0 horizontal neckline. We need a 4H candle close below that to confirm the breakout. Then, shorting on a retest, a bearish continuation will be expected to 97.2 level. If the price sets a new high, the setup will be invalid, though. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
3
🚨 Oil Tests the $90's; Read More for our Trading Idea 🚨Oil caved through support at the base of the $100's, making its way down to $95.24. We expected this value to hold as a floor price, as discussed yesterday, and we just barely broke through, with a low just above our level at $92.03. We immediately equilibrated back to $95.24, and are currently testing the next level above at $96.88. A red triangle on the KRI confirms resistance here. We appear to be forming a small inverse head and shoulders pattern, suggesting a strong possibility that we will correct back to the $100's. A long position here in futures, or oil related stocks such as XOM or ETF's may be profitable. A stop loss at $95.24 with a profit target set conservatively at $100 may provide a 2:1 return on risk.
NYMEX:CL1!Long
by quantguy
CRUDE OIL (WTI) Very Bearish Outlook 🛢 WTI Crude Oil retraced to a peculiar zone of confluence on 4H: we see a perfect match between a horizontal structure and 618 retracement of the last bearish impulse. Reaching that structure, the price broke a support line of a rising wedge pattern on 1H. I expect a bearish continuation now. Goals: 101.93 / 100.0 ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
TVC:USOILShort
by VasilyTrader
9
How to trade OilLooking at CL1! now, a break of Friday's low is a daily-down rotation. Below $100 opens the door back down to the $96.50 area, followed by ~$93 and the 200-day. Oil bulls have not been used to seeing /CL in a downtrend this year. However, that's the case at the moment with the 10-day acting as active resistance, while it's below all of its major short- and intermediate-term moving averages, as well as uptrend support. Longer term, the trend still remains constructive, but /CL is currently vulnerable. On the upside, oil needs to reclaim $105 to $105.50 to unlock $110+ but it will need to do more than that to repair the recent stress on the charts.
NYMEX:CL1!Short
by bkenwell
CL1! - Crude Oil Futures Weekly Analysis, 7/11/22Crude Oil futures tested the 200 day SMA and happened to find some very identifiable support. Price ground higher to settle above the structure which it had failed causing the sell off. Overcoming the descending GRAY structure above, likely puts this market back on pace to retest the 2008 high @ $147. Support and Resistance structures have been adjusted for your reference this upcoming week. Wishing you a blessed and profitable week!
NYMEX:CL1!
by SpecialeAnalysis
CRUDE Bounced off & rehash...As previously expected, Crude bounced off 95 (95.10 to be exact) and it bounced off with gusto, to reclaim 100 support. The bounce was a fast intraday check-in at 95, and the following day clocked a bullish engulfing of sorts. This was then followed by another bullish day to end the week with a long lower tail, indicative that between 95 to 100, likes a lot of demand. The daily technical indicators are starting to crossover. This recovery bounce is also awesome as it broke down and out of the triangle and then returned back in. For technical analysts, we do know that when this happens, there is a higher probability that there will be an exit on the other side... ie. a breakout is imminent. Note that the triangle was updated by readjustment from previously. In the weekly chart, while the technical indicators are still trudging lower, the candlestick shows a temporary spike out of the triangle only to make it back in. This is a bullish indication IMHO. Taken together, expect the bullish run to meet some resistance about 112-114 in the following days of the incoming week. There needs to be a higher low, that bounces off the triangle support... and then we just might get a bull run breakout in early August 2022. Watch this one! ps. Target breakout (dotted green arrow) and upside target of 165 updated. Pennant pattern (fibonacci) projection also added (dashed green arrow)
NYMEX:CL1!Long
by Auguraltrader
1
CL1!7.8.22 CL1! It wasn't pretty but I think I was able to focus on the significant support and resistance areas. I showed a two-bar reversal near the top. It did move lower, however there were support lines where the market had gapped hire and we had to deal with this. In fact, we ran into a two-bar reversal add support not so far away from the two-bar reversal the triggered the short trade. In short, we had to work hard for our money. The setup was a little complicated in this case, and the truth is I know this because I know where the support levels are, and yet I want to make the trade. When you trade lower time frames, this becomes a significant part of the trading process, which can be a little stressful. There is another aspect of this which is very important, and I did not explain this in the video because I was struggling to make my point before I ran out of time, and that is you have to be prepared the change your mind and quickly change your position in the market and that is something that will not be easy for most people, including myself. It also requires constant, or nearly constant screen time and you have to decide if that's really the kind of trading you want to do. On the other hand, you can make a lot of money doing this. It will restrict the number of markets should be able to follow in a given period of time...On the other hand, you can trade larger positions if you're good at this.
NYMEX:CL1!
by ScottBogatin
CL1!7.7.22 CL1! went up about 8 points in the last day. In this video, I gave a general review that I believe accurately reflects the market dynamics for what happened here. It will be much more useful if you listen to the video. You will see where the buyers and sellers are, and you will see reversal patterns. It is important to review the graphics if you want to understand the process. Tradingview is going to filter my videos in some way because of things I am not doing. If my students can follow my posts despite the filters, I can settle for that. However, I still felt that I had to express my point of view. Tradingview provides a good service, and I think I provide a good service with no cost to those who care to listen. Everyone has the choice to push the ''unfollow' button if they prefer to not listen to my videos. If I owned a business, I would want to run it my way, and I have no problem with that.
NYMEX:CL1!
by ScottBogatin
6
WTI: Next step 👍WTI has made the next important step in the course of our primary scenario and has jumped below the support line at $101.53. We expect it to drop further still, namely below the next support at $92.93, where it should finish wave 3 in blue. After a short countermovement as part of wave 4 in blue, WTI should then fall into the white zone between $78.56 and $70.17. There is a 25% chance, though, that WTI could change direction and rise above the resistance at $130.50, thus enforcing further ascent.
NYMEX:CL1!
by MarketIntel
USOIL 6th JULY 2022USOIL fell below USD 100 as recession fears grew, fueling concerns that the economic slowdown would cut demand for petroleum products. In the macro trend, oil tends to be bearish. By the end of this year if the economy is heading into a recession. In a recession scenario with rising unemployment, bankruptcy of households and firms, commodities will chase a downward cost curve as costs deflate and margins turn negative to encourage supply curbs. However, the decline in oil prices will actually benefit manufacturing companies. They will take cheap prices for supplies, after 2 quarters of prices soaring. USOIL D1
TVC:USOIL
by DNP-FX
8
Crude Oil may fall rapidly to the 85 to 92 zone supportCrude oil futures CL1! Is making an ABC zigzag correction & may reach 92 where A=C. 88 is the 0.618 Fib retracement while 85 is the Nov2021 Top. This strong support zone will enable crude oil to retest the blue upchannel base before resuming rally thru 2022. Crude oil is falling due to recesion fears & demand destruction. This should be temporary due to the supply issues created by the invasion & sanctions which will not go away soon. Not trading advice
NYMEX:CL1!Short
by xtremerider8
Oil Maintains Broad RangeOil rejected 113, and came crashing down through support at 106. It penetrated the vacuum zone between 101 and 106, but has since found support around 104, confirmed by green triangles on the KRI. We have subsequently seen a pivot back to 108, but appear to be finding resistance confirmed by a red triangle on the KRI. If momentum continues then the next target is 111. It is likely that we will begin to equilibrate in the broad range between 101 and 113, so watch these levels for a potential mean reversion trade.
NYMEX:CL1!
by quantguy