cl, oil, day trading for Dec 12thEverything I said yesterday still applies today so look at link below
Oil(wti)
oil, cl, day trading for Dec 11thOil is trading inside yesterday and is in a tight consolidation. I will be looking for a decent sized move out of this range and today oil report could be the trigger. My plan is simple watch the red zone for a break and trade small and inside until the break happens.
USOIL - Price dropping soon?How much higher will we go?
Price has printed a rising wedge pattern indicating exhaustion in the market. We will be waiting for a break of trend with corrective structure to the downside.
cl, oil, day trading for Dec 10thOil is trading in about a 1 point range and this can be a good back and forth day trade, and if oil does not break the red zone then back and forth is my game plan.
Will watch action at red top and bottom and will look for failure at each side for a reversing entry.
USOIL - WTI- SHORT SELLI think this is what is going to happen.
Feel free to leave your thoughts on oil :)
cl, oil, day trading for Dec 9thoil has been drifting down and I think we will see a pop back up and if this is right will watch the 58.85 area for rejection if we keep going up then the point the bulls take back over is 59.30 and this I thinks takes us to 59.90.
The second idea is the open is a drop of the small test to 58.85 and then we make a move to 57.80. so will be watching to see if either of these ideas will play out and when I think they will is where I take my trade.
oil, cl, day trading for Dec 6thoil is inside a upper distribution and looks very comfortable, we will need a drop below 57.4 to be called bearish by me. and a move over 59.12 I will call very bullish. I will be looking for a range bound day if we remain inside this consolidation.
oil, cl, day trading for Dec 5thOil is presenting bullish, and today's oil report should be very interesting, will be taking oil easy thinking little will happen prior to report.
I see 58.50 as a very important level today and will remain bullish above that level.
SELL WTIUS crude oil inventories decreased by 4.9 million barrels from the previous week more than expected, which supported the current rally albeit OPEC meeting tomorrow may disappoint oil market if it failed to cut production more than the markets expects, if it preferred to extend the cut agreement only I think prices would drop sharply as usual during past meetings. U.S. crude oil inventories are about 3% above the five year average for this time of year, the shale oil production would cap any rally so it will be short lived.
cl, oil, day trading for Dec 4thoil is currently trading in a transition zone between two recent distributions and will have to make a choice between one or the other. if oil breaks from the red zone today then the first blue support or resistance will be a very likely target for either break.
I will be looking to trade a range day inside the red zone until a firm break of this zone is established.
oil, cl, day trading for Dec 3rdOil looks to be continuing its down move and is already below the red zone, so will be looking for spots to grab it short as long as we remain below the red zone.
oil, cl, day trading for Dec 2ndAfter a big down move on Friday we got some retrace back up, but is comes with no consensus so will still be watching for teh traders commitment to direction, I am looking at things with I guess 2 over / under lines one at 57.07 and the other at 54.85 and as normal the opening red break zone. How e act at all these levels will be the information i will need to make a day trade decision.
WTI Oil: Medium term Buy opportunity.Oil took a hard hit last Friday towards the 54.85 1D Support. Technically this makes a perfect Higher Low on the 1D Channel Up (RSI = 47.115, MACD = 0.310, ADX = 20.203, Highs/Lows = -0.4050). On top of that the 4H RSI is on the lowest level since early August, so we are taking this as a strong medium term buy opportunity. Our Target Zone is 58.00 - 58.70 (region within the 4H gap fill and 1D Resistance).
** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. **
Comments and likes are greatly appreciated.
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.
WTI CRUDE OIL SELL SETUPWTI CRUDE OIL SELL SETUP :
WAIT FOR A COMPLET CORRECTIVE PATTERN LIKE A BEAR FLAG TO SHORT
WTI Crude OIL There is strong resistance around price level 58.
Where was strong volume cluster and nice accumulation followed with nice move down.
Potential profit is around price level 56 to the next volume cluster.
Happy trading
Dale
cl, oil, daytrading for Nov 26thoil is inside a multi day range and is testing higher, and if we get a higher break the 59 area is a possible test area for today. Any move lower has many layers of support and each one will need observation to see how the market response.
CRUDE OIL BULLISH CONTINUATIONHey everyone!
Wanted to make an update on crude oil.
If any of you viewing this idea follow me, you should be aware of my previous post on Oct 22nd. Nothing really changed since then, trade is going as planned.
Take a look at that weekly bounce of green supply zone :) bullish continuation expected on weekly basis.
For those that didn't take previous trade and didn't open longs in greenish box, purple box is zone of interest to open longs again. (Not saying that market will offer us that chance, but if it does, bulls should step in.)
This is not a financial advise. Let me know what you think!
