Oil looking for 71.86$oil now above demand zone (67.19 -68.38) and there is Bullish Divergence if it's still above these levels and if price action appears it will be good long trade to reach 71.86 / 77.74 / 80.18 / 84.48 / 87.59.
Good Luck
Contract highlights
1st wave upwards?Analyzing the NYMEX:CL1! (Crude Oil Futures) chart, the current level may serve as a potential reversal point due to several factors:
Higher High Formation: On November 7th, the price established a higher high. If the current candle forms a higher low, it could signal the continuation of an up
Oil is staring down the barrel of a bearish breakdownA stronger USD, prospects of a deregulated oil market alongside disappointment with China stimulus and weighed on crude prices on Monday. WTI is toying with a bearish breakout of a pattern which projects a downside target around the mid 50s. But how realistic is that? Let's take a look.
MS.
MCL Short 11/6/2024MCL is in an uptrend. But price made a LH DT. CL inventories report is bearish with high supply. Placed a short position in HV SZ. Taking half risk because it is a countertrend trade. Risk= $125. Target= 1:1 and gap fill.
Bearish signals piling up for crude oil pricesA lack of direct stimulus measures in China likely contributed to the rough end for crude oil last week, with prices not only breaking minor uptrend support but also closing below the 50-day moving average.
It’s the latter that’s got me eyeing a potential short setup. The ratio of how often the pri
Falling wedge Breakout in CRUDE?Crudeoil Update (4-Hour Timeframe)
Pattern Formation: Falling Wedge, typically suggesting a potential breakout to the upside.
Current Setup: Crudeoil has taken support at the 5900 level and is now trending upward within the wedge.
Entry Above: 6025
Target 1: 6100
Target 2: 6220
Target 3: 6380
St
MCL Short 11/10/2024MCL is in a sideways trend but price closed below 4hr 21 and 200 EMA. So, taking down momentum play. Placed a short position in low volume SZ. Hence, taking half risk. Risk= $120. Target= 1:1 and gap fill.
MCL Long 11/5/2024MCL is in an uptrend. Placed a long position in confluence HV DZ (the upper zone). Waited for price to break previous high. Risk=$220. Target= 1:1 and 3:1.
CRUDE OIL "3 Heads Monster"Could this 3 Heads & Shoulders come to live ?
Built in "Close Price Line Chart" (Candle = Same formation)
Small (black) H&S Target @ 59.34
Medium (orange) H&S Target @ 44.32
Large (blue) H&S Target @ 10.29
CL longI see a possible long so taking it. h&n after sweeping NY pm session low. Am assuming 80% chance to hit target. Don't take this trade I am testing theory lol
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Displays a symbol's price movements over previous years to identify recurring trends.
A representation of what an asset is worth today and what the market thinks it will be worth in the future.
Frequently Asked Questions
The nearest expiration date for Crude Oil Futures (May 2016) is Apr 20, 2016.
Traders prefer to sell futures contracts when they've already made money on the investment, but still have plenty of time left before the expiration date. Thus, many consider it a good option to sell Crude Oil Futures (May 2016) before Apr 20, 2016.