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Cl1!long

gold is valid for entry - l'or est valable pour l'entréeANGLAIS : Hello everyone Gold is now in a good entry point after the descending wave shown in the blue line. However, gold now has fierce resistance, it must cross 3 resistances: green, yellow, orange and will go to the moon Note: The output in the first red candle you see is greater than the green candle FRANÇAIS : Bonjour à tous L'or est maintenant dans un bon point d'entrée après la vague descendante indiquée sur la ligne bleue. Cependant, l'or a maintenant une résistance féroce, il doit traverser 3 résistances: vert, jaune, orange et ira sur la lune Remarque: la sortie de la première bougie rouge que vous voyez est supérieure à la bougie verte
COMEX:GC1!Long
by ELHABARSAAD
2
Oil rally off news, to continue to $65! Crude oil prices skyrocketed from the news that there was an attack on an Iranian militant in Iraq which increased tensions and caused oil to pop. Oil was already on a tear to the upside and market structure suggested long side, this just gave price a little jolt of energy. Tensions may continue to rise but market structure is still saying upside. The break above the top of the channel ensured the upside. The bottom of the channel and support structure held really well on the intraday with a double bottom at $60.70-$60.80. From the break of the previous high at $62.30 and the break of the channel we have now experienced a pullback into that area for a continued move higher. The $62.30 level held as support really well after hitting the $64.00 area. The next target is $64.00 yet again which is the 150% Fib extension area so target 1 was hit. The next target is the 200% Fib extension at $64.98. Should price break below $62.30 there is a potential for a pullback into the support at $61.00 where the impulse from the drive higher started. This idea is for educational purposes only, this does not constitute as investment or trading advice. TRADEPRO Academy is not responsible for any market activity.
NYMEX:CL1!Long
by TRADEPROAcademy
ridethepig | Energy OverboughtA good time to update the Oil chart after the OPEC desperation leg. Those following the previously posted long-term macro chart will remember the breakout we have been tracking: On the demand side, manufacturing remains sluggish and we are again outguessing signs of the effects on the demand side. Equities wont be able to hold Oil up for too much longer, this is starting to look clearer by the day with only one direction for Oil in the long-term. For the flows I continue to sell rallies, this works nicely as a hedge versus the USD devaluation / reflationary theme for 1H20. A major breakdown here will cause for a reassessment of the USDCAD macro map for 2020. Remember we traded some of the swing highs previously to the tick: Overall, I see the case for meaningful Oil weakness in 2020, but if we get significant USD devaluation - maintaining longs will require patience and tolerance. Difficult to trade, for sure, but I still feel the bigger Oil risk lies to the downside. Thanks for keeping the support coming with likes, comments and etc. Good luck all those selling rallies in Oil.
TVC:USOILShort
by ridethepig
9
Crude Oil targets keep getting hit, next level $62 & beyondCrude oil has made a strong run to the upside through a lot of resistance levels and target zones and the commodity still has room to the upside. The first level that was broken that we were targetting was at $59.90 and just above that the top of the channel at $61.00. The $61.00 target was barely hit on the day before price reversed slightly lower. The support structure we're watching for price to hold and continue higher is $60.35 but the price could move slightly lower into the $60.00 area before finding some support. Ultimately we have one last chance level at the impulse start which is at $59.50 but we don't anticipate price moving down to that area before seeing a rally through the $61.00 resistance area. A breakthrough $61.00 could drive the price up to $61.50-61.70 and the retrace, we want to see it stall at $61.00 to confirm the upside and continue to rally. This is what we're looking for. Disclaimer: This idea is for educational purposes only, this doesn't constitute as investment or trading advice. TRADEPRO Academy is not responsible for any market activity.
NYMEX:CL1!Long
by TRADEPROAcademy
Oil holds support well, a new high is coming up. Long CRUDE OILThe uptrend has been prevalent in crude oil with a slight hiccup early in December, otherwise higher highs and higher lows have occurred. The most recent was a break above the strong resistance at $58.70 and held it as support. The candlesticks are really important in this analysis because the wicks are really pronounced and extended which suggests the buyers are in control to a strong degree. The break and retest of the level at $58.70 was a break of a previous high and retest that held which confirmed the bull trend. We ticked the first upside target on oil at $59.90 and now we expect the next target level which is first at $60.50 then at $62.00 based on the Fibs. One sign of concern is the volume is not the strongest on this rally higher and there are choppier candles that have printed which does not convince us too much of a direct path higher. If the $58.70 support is broken and price continues lower, that breaks the trend. Disclaimer: This idea is for educational purposes only, this does not constitute as trading or investment advice. TRADEPRO Academy is not responsible for any market activity.
NYMEX:CL1!Long
by TRADEPROAcademy
Crude oil hits our target area, is there more? $62.00??Oil has been on a tear this week and its mainly due to a lot of OPEC/OPEC+ talk. The upside came out on news of production cuts hitting the system shortly and we were anticipating price hitting the $60.00 area or near at least. That target was easily hit this week and now we have to question where could it go from here? There are two possibilities: 1) The price could regulate and drop back below $58.70 and remain in the $57.00 area based on the weaker volume on these last moves higher and also the fact that the production cut news has already been priced in. It may be deemed overpriced by market participants and we can identify that if the $58.20 level breaks which is the impulse that brought price higher and price continues to drop below that holding it resistance on rotations. 2) Oil prices could continue going up and our target is $62.00. This is based on the current market structure of a strong uptrend. Higher highs and higher lows, for this to continue we can experience a pullback to $58.60-58.70 based on the previous broken high and then continued move higher. Disclaimer: This idea is for educational purposes only this does not constitute as investment or trading advice. TRADEPRO Academy is not responsible for any market activity.
NYMEX:CL1!Long
by TRADEPROAcademy
Oil set up for another run to $60.00. Production cuts are the talk of the day and the foreseeable future around the OPEC and OPEC+ meeting. We recently saw an extended move to the upside from the support structure. From here we moved into the previous strong resistance level at $58.70 and now we do anticipate more upside, should the mapped out support zones hold. Oil could find itself down to $57.00-$57.10 where the impulse started the break to the resistance area that is also the 50% Fib retracement zone from the move. The first support level to watch however is $57.85 for the extended move up to the targetted area at $59.90 and $60.00 Disclaimer: This is for educational purposes only, this idea does not constitute investment or trading advice. TRADEPRO Academy is not responsible for any market activity.
NYMEX:CL1!Long
by TRADEPROAcademy
Crude OIL longs have held, next stop back above $58.50!Crude oil manages to come back to a key support level and rotates well. The $57.90-58.05 area held really well and the long extended wicks on the candles suggest a strong buy sentiment is protecting the upside. The buyers are coming in on strong volume and we expect price to move back to the resistance level at $58.50 first and then through the $59.00 level. The support we identified also comes into confluence with the volume profile edge support for the month of November. Price needs to stay above $58.00 should the longs hold this level, below $57.85 this trade is losing steam, we have no seen a candle close under that level to end the week.
NYMEX:CL1!Long
by TRADEPROAcademy
CL bull channel holds, longs up to $59.60! Crude oil is still holding upside bull structure and it didn't even have to pull down into the $56.75 where the impulse started, the bottom of the channel at $57.35 held really well for the bulls to continue and the $57.85 held multiple times for the upside on rotations and wicks which indicates more upside. The only part that may break up the upside trend is the triple top formation at $58.60, the high probability long would be a break above $58.70 and close, into $59.00 and retrace to the broken high and hold as support. If we get below $57.85 again we may be done with the long side. Disclaimer: This is for educational purposes only, not recommended as trading advice or investment advice.
NYMEX:CL1!Long
by TRADEPROAcademy