oil where goes?it's a weekly time frame be careful, I think price drop to 17.5 and then start the rally to 65usd.
Oil(wti)
Gasoline Falls in Asia + Stock Futures Fall in Europe & USHeadlines:
• Crude Finishes Flat Whilst Gasoline Futures Drop -6% Within Asia
• CNOOC Announces the Postponement of its Canadian East Coast Project Due to Covid-19
• US Futures Fall as Virus Concerns Reappear Whilst Asia Starts the Quarter Off Lower
cl, oil, day trading for Mar 31st 2020oil has been moving up but is now testing its entire current range and the bottom of this range is critical to the bull case for the day. W also could be expanding the chop zone to include yesterday and today, we will know this better by days end.
I will be looking for the long and short inside the red zone until the red zone is broke and at that point trading in the breaking direction trying to make the targets posted.
Crude Dips Below $20 a Barrel before Recovering End of SessionHeadlines
• Crude Dips Below $20 a Barrel before Recovering at End of Session to 20.09
• Global Stocks Begin the Week Higher as IT & Health Care Lead Indexes Higher
• Norwegian Energy Ministry Proposes Exploration Blocks Amidst Falling Prices
WTI US crude oil. Buy. Divergence. Gap fill?Here we can see a nice divergence of lower prices with a rising RSI and MACDH divergence on the hourly. Nice Doji reversal candle to.
Analysis of the WTI charts shows big volume on this candle to.
Is this a double bottom? Will we see a big pump up to the neckline? Resistance box to get through first. As always I'll be taking profits as we hit that and buying pullbacks again on the 5 min (or 1 min depending on momentum) charts.
oil, cl, day trading for Mar 30 2020The pre regular hours trading has oil seeing new lows however is forming a bottom heavy balance that looks to be pointing to lower levels. Upon RTH open can see oil bouncing up a little before dropping firmly into the teens. I will be ready for this bounce part to not happen additionally will remain leaning short if the Red zone top can not be moved past.
Posible Trayectoria de PBR???Es posible que hayamos presenciado solo un rebote en PBR, Probablemente el precio del petroleo no mejore hasta que se solucione la crisis en la OPEP sumado a la Pandemia y el nuevo epicentro de esta nada, mas ni menos que New York.
oil, cl, day trading for Mar 27th 2020The session started consolidated then broke to the down side and now looks like it wants to test the low of this current drop. there is a bottom test range of 20.80 and 21.70 that could cause oil to chop around before looks at lower levels. The red bottom could also act as some support. Will be leaning short but also will be ready to change long if we get back above the red zone top.
BRENT OIL FUTURES: Be Prepared For Breakout
long period of contraction on brent oil.
with a sequence of lower highs and long term bearish trend, the chances are high that market participants are preparing for the next wave to the downside.
pay attention to the underlined horizontal support and sell its bearish breakout!
what is the target? I don't know! No structure on the left! Let's see together :)
p.s trading triangles, a preferable stop is above the last lower high!
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Oil will drop more without OPEC dealYou will learn the best place where we can trade oil with low risk.
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oil, cl, day trading for Mar 25th 20202Oil has been moving all over the place but has come right back to yesterdays trade range, So a balance inside a bigger balance. I will be looking for the first balance break (red zone) and then watch at the big balance area from a few days back for rejection or a confirmation of bigger picture direction.
Oil can remain in a small choppy range for some time but I think will have a big break out or down when it comes out of this balance.
Will be selective on my trades in this product right now.
cl, oil, day trading for mar 24th 2020Oil has moved up in early session and has now pull back to top of yesterday range, this is the spot i would look for a long if this market is going to move higher, the next long confirmation then is when we move above red top.
A move back into yesterday range I then can see oil moving back to the lows of yesterday and maybe further.
I personally find it hard to think oil will move up as long as OPEC is pumping as hard as they can.
cl, oil, day trading for Mar 23rd 2020Today we are again digesting some extraordinary moves and need to look at what is really happening. I am watching 20.50 as a very important lower level . I am not looking at targets today but more observation of what the activity of the day will be, the range is massive and there is plenty of room inside the range to have large trades so as long as inside this range no targets.
Everything has been very sold and a technical bounce could happen at any time
oil, cl, day trading for mqr 20th 2020We have dropped below normal red zone low and now the level to watch is the current low, this will be a important level to help find today's direction. I do not see ( unless news) a much higher move above the current highs. however can see a test of the lower balance point very easily.
Oil ranges have been very large and provide some good trades but also lots of risk if managed poorly.
USOil 2 Possibility ZonesHello traders,
It is highly likely that USOIL could drop to 19.20 zone, and least likely for 17.35 but we have to keep that in mind!
Buy Stop @ 33.09
Trade Safe and don't over trade with big lot sizes if you're not confident enough!
oil, cl, day trading for Mar 19th 2020yesterday saw oil drop hard into new lower levels and now we are in a bottom of range balancing zone. If we stay in this range I think we break down for mid teens to what could be the bottom, however i am beginning to see a case for oil below $10.00 also.
A move above red zone could take us back to prior RTH session low and then see if bulls have any mojo left. This range is big so should be able to find action today.
WTI Oil: Rising Wedge towards 24.40.The bounce on yesterday's 20.00 low has been met with strong buying towards the end of the session, making a bottom sequence and today the price appears to be consolidating. This resembles the Rising Wedge of the previous sharp sell-off sequence on March 9th.
After making Higher Lows, the pattern topped slightly above the first High. With 1H technicals largely mixed (RSI = 41.112, ADX = 21.510, MACD = -0.760), we are expecting this to make Higher Low and bounce towards a 24.40 top.
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End of Oil Crash might be thereAfter this crazy day we might have some relief on Oil today the support we just got might indicate that we could buy and target 25$ today
CLM0 3 Day Chart: Long-term Buy Oil opened the week with a massive gap of more than 30%; a clear selling climax move. At this point, most of the selling was absorbed by institutionals and I do not see the selling continuing for much lower. Oil has already regained 20% since the low was printed early in the morning hours. A great opportunity for long-term buy entries. Mind the risk though - have at least a $6k risk buffer per contract here. Depending on the exclusion of the "lower for longer" approach here by the oil giants, we could see a mean-reversion to the $50 area rather quickly - by H2 2020. Around $50, a decent profit of under $20k per contract expected.
oil, cl, day trading for Mar 18th 2020A down move over the early session moves below prior support levels and sets up a move into teh higher teens. Will be watching for any type of bounce and if this bounce fails will be hanging my hat on the short side. also will get short on a impulsive move down that gives me a pause to jump on.
Lower target 17
Please look at your chart and the usoil TV chart I have cl numbers coming in .40 higher than TV
#OIL can Reach 76.00 again ??!! Let's see OIL now on Strong Demand zone between (28.92 : 26.03)
i think if the OIL break 26.03 we will see 25$ Levels and if it break it it will go to 21$
so we will wait until the price arrive to 26.03 if we see price Action (Daily Candle ) i will buy to Reach (41.82 , 55.37 , 65.50 and 76.60 levels ) My SL will be Close daily candle under 26.03
