Oil(wti)
WTI: Close To Sell Zone
WTI oil is very bullish this Monday.
Most likely bulls will keep pushing the market at least to 58.0 level.
There we have a strong are of resistance and we have a good potential opportunity to short the market.
Because the momentum is quite strong I will be waiting for a reversal confirmation before entering short.
Target levels will be 57.0 and 56.0
good luck!
WTI: Close To Sell Zone
WTI oil is very bullish this Monday.
Most likely bulls will keep pushing the market at least to 58.0 level.
There we have a strong are of resistance and we have a good potential opportunity to short the market.
Because the momentum is quite strong I will be waiting for a reversal confirmation before entering short.
Target levels will be 57.0 and 56.0
good luck!
cl, oil, trading Nov 1stOil is having a strong up move taking us to a higher distribution and if we remain above the Red zone top I think we could get to 55.30.
In the event we move back inside the red zone very likely chop.
Move below red bottom only think we get to first lower blue target.
Trade I like is a test of Red top for a long!
cl, oil, trading for Oct 31stOil is in a down trend stuck between 2 distributions so a move below red bottom should have us go back to a choppy trade in the 53.50 area and a move above the top Red zone should produce the same chop 55 area. now that could provide some nice bottom zone longs for .8 points long and a short from top of .7 points.
cl, oil, trading for Oct 20thToday due to oil inventor report at 10:30 and interest rate announcement at 2:00 the red zone will be larger, And this also makes since seeing that after RTH session yesterday we forma big balance zone.
I will be careful today but until we clear this zone will be looking for trades back and forth inside the red zone.
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WTI: Bullish Continuation
after a retracement from the resistance line of the channel,
bears are approaching a strong zone of demand. (54.0 - 55.0)
During this month the tendency remains bullish ,
for this reason, I believe that we will see a bullish continuation to higher levels of structure.
Target levels are 56.3 & 58.0
stop should be strictly below the identified zone.
oil, cl, trading for Oct 29thwe are moving in a downward direction and could see this continue to at least 54.25 area. I would like to see a bounce up to short but will see how we act around the red zone. a move back above 55.60 should take us back into the upper distribution and have us enter chop around 56
oil, cl, trading for Oct 28thThe current move is long in a balancing consolidation and will need to move above the red zone for further up move . If we can not get back above I will be looking for oil to consolidate and then test lower prices again, and as a guess only I thin the 56 area could be oils happy area for a while.
cl, oil, trading for Oct 24thOil on a strong move as mentioned one should be coming and now doing a formation of a flag that could provide a further move higher. Inside the red zone are 2 of our prior support and resistance lines(blue) and figured i would leave them on the chart today.
I will be looking for a pull back down that I will be watching to see if it holds so I can get long, this might be a trade that goes past a day trade.
WTI Crude Oil (It is in the downtrend)View On WTI Oil (2 Oct 2019)
Oil is still in the downward spiral.
It can retest the recent low of $52.6 or even lower.
If you want to buy, at least you should wait for a decent bull candle to show up first. Please do not rush in.
DYODD, all the best and read the disclaimer too.
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cl, oil, trading for Oct 18thNow we had a very interesting move in the last 24 hours and give us more to play with. Today the red zone is now very small and will give a more clear trade opportunity so will watch close. That said being Friday the move after this pop can be consolidating.
I can see a pull back all the way to 53.75 before the up move takes off again and below that area will not lean long but think more like expanded range. And any move above 55 is to be looked upon as nice and bullish, but will wait for retests to get long.