Light Crude Oil Futures forum
CL1! ukraine launching usa missiles into russia this morning....no movement?
CL1! Monday we went lower as the big players anticipate future pricing with 201k contract volume. Lot of volume @ 70-70.50 then quick move to establish pricing around 68.2 where most of the volume occurred on that day.Tuesday we traded a fairly balanced range as the market adjusted, on lower volume. Price tried to push higher but met sellers protecting their positions. Price closed pretty much where it opened.
Wednesday on the highest volume of the week, the big players again push prices lower, creating another imbalance and a nearly perfect inverted head and shoulder pattern that played out perfectly on Thursday.
Thursday we saw lower volume, and some rebalancing from Mondays PA, as buyers tried to push the market higher, but again failed and met at from Monday.
Friday on the lowest volume of the week, small players pushed price up but quickly failed. Big players again stepped in to push prices back down and the move from Monday & Wed was completed and the December 2024 contract was closed out.
For this week I will trade the price action would not be surprised to see price push up into the 69s over the next few weeks but ultimately fall lower as we near contract close mid December.
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CL1! Anyone else waiting for push past $69.10?
CRUDEOIL1! sell bears again griped
CRUDEOIL1! our all Target done in crude oil
QM1! mini oil futures apex of the triangle forming 80 barrel oil around Nov 19th 2024 tradingview.com/x/JGPkFZI9
CRUDEOIL1! sell on rise upto 5820 traget 5740sl 5860