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QM1! trade ideas

Oil prices fall after Iran attack -Oil prices fell during trade on Monday, as market participants dialled back risk premiums following Iran's attack on Israel late on Saturday which the Israeli government said caused limited damage. -Brent futures for June delivery fell 20 cents, or 0.2%, to $90.25 a barrel while West Texas Intermediate (WTI) futures for May delivery were down 33 cents, or 0.4%, at $85.33 a barrel by 0225 GMT. -The attack involving more than 300 missiles and drones was the first on Israel from another country in more than three decades, raising concerns about a broader regional conflict affecting oil traffic through the Middle East. -But the attack, which Iran called retaliation for an air strike on its Damascus consulate, caused only modest damage, with missiles shot down by Israel's Iron Dome defence system. Israel, which is at war with Iran-backed Hamas militants in Gaza, has neither confirmed nor denied it struck the consulate. -An attack was largely priced in the days leading up to it. Also the limited damage and the fact that there was no loss of life means that maybe Israel's response will be more measured. -As Iran currently produces over 3 million barrels per day (bpd) of crude oil as the fourth-largest producer within the Organization of the Petroleum Exporting Countries (OPEC), supply risk includes more strictly enforced oil sanctions and that Israel's response could include targeting Iran's energy infrastructure, ING said in a client note on Monday.
NYMEX:CL1!Long
by Khairil_Anuar
Crude Oil Technical AnalysisCL1! (Crude Oil) is forming a large head and shoulders pattern on 1hour chart. It is current retesting a previous support and holding at a demand area. A clean break below demand, below 84.85 would signal a price continuation down. For now, Jeanius is giving two buy signals which could be the beginning of another deep retracement upward. If we could get a strong bullish candle close above the current resistance, I would drop to a lower timeframe to confirm structural change to the upside to target the 1hour fair value gap and daily levels. Lets wait and see.
NYMEX:CL1!
by Stockstradamus_
Where Does Crude Invite Buyers?Crude Oil (May) Yesterday’s close: Settled at 86.21, up 0.98 Crude Oil futures slipped early yesterday due to the broader risk-off sentiment and saw further selling on larger builds within the weekly EIA inventory data. However, price action held major three-star support (newly adjusted to 84.55-84.69 and 84.90-85.10) before geopolitical premium brought a fresh bid as news flow called an Iranian strike on Israel imminent. Price action is again slipping into the onset of U.S. hours and with support well-defined, we will look to a pivot and point of balance at 86.02. Bias: Bullish/Neutral Resistance: 85.29**, 86.58-86.71**, 86.91-87.10***, 87.07-87.22**, 88.37-88.64*** Pivot: 86.02 Support: 84.90-85.10***, 84.55-84.69***, 84.04-84.09**, 83.71***, 83.12-83.25*** Check out CME Group real-time data plans available on TradingView here: www.tradingview.com Disclaimers: CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
NYMEX:CL1!
by Blue_Line_Futures
Wti 90 Strike is On Sale!There is something insightable happening with WTI oil. 90 strike and trade volume are attracting attention. Check out Monday's trading data below. But to properly interpret it, we need to look at the data in the context of how the price of the asset has moved. Comparing when the highest option trading activity was at the 90 strike and how the asset moved, the question becomes why the 90 option strike is being handoffed as prices move higher. It's critical to note that open interest at the 90 strike did not increase, but the option flow from previous owners to new owners did (the amount of open interest did not increase, it actually decreased slightly). Someone started buying at the 90 strike about 3 weeks ago and is now taking profits by selling their portfolio into the market, taking advantage of the rising price of call options. Our statistics show that such a scenario indicates a strong resistance level around the 90 strike and a likely bounce.
NYMEX:CLK2024
by ClashChartsTeam
WTI remains on the 'buy the dip' statusMarket positioning data from the COT report shows that asset managers and large speculators are piling into longs, yet shorts remain subdued. The price on the 4-hour chart also shows an established uptrend within a bullish channel. Prices have not yet completed a 3-wave retracement against the trend, hence the bias for a slightly deeper pullback before its trend resume. Also note that RSI (14) has not yet dipped into the oversold zone (which is now 40 given the strong uptrend). Any pullbacks towards the internal trendline or $84 will pique our bullish interest for new longs, in anticipation of its next leg higher on route towards $90.
NYMEX:CL1!Long
by CityIndex
Crude Oil, Bulls in Driver’s Seat?Crude Oil (May) Yesterday’s close: Settled at 86.43, down 0.48 On Friday, geopolitical premium helped the nearby month in Crude Oil futures traded to the highest level since October 23rd, and the May contract hit the highest since June 2022. Price action gapped lower from the 86.91 settlement on the open Sunday night, but strength into the onset of U.S. hours yesterday hit a high of 87.10. The resilience lends optimism, with the session low (Sunday night) holding that of Thursday’s before headlines lifted to new local highs. This newly established floor is now major three-star support at 84.64-84.93 and we see the bulls in the driver’s seat while above here. The EIA will release its Short-Term Energy Outlook at 11:00 am CT, and API’s private weekly inventory survey is due at 3:30 pm CT. Bias: Bullish/Neutral Resistance: 86.91-87.10***, 87.07-87.22**, 88.37-88.64*** Pivot: 86.10 Support: 85.39-85.50**, 84.64-84.93***, 84.04-84.09**, 83.71***, 83.12-83.25*** CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
NYMEX:CL1!
by Blue_Line_Futures
Can the HOUSE CAPITALIZE on the Market Correction SHORT...?NYMEX:CL1! There may be people who have more talent than you. But there's no excuse for anyone to work harder than you. -Derek Jeter Last week we tried to catch this move however our stops were hit due to sellers not being ready just yet to commit and Buyers came in to Mitigate the HTF Daily Supply Zone causing us to be stopped out... All good we rii back at it!! This is what I want to see in order to scale SHORT.... 1) Price is currently trading inside a 15m Demand ZONE and rii above a Minor Support Level ($86.65)...***I need to see this 15m Demand and the Support level fail and sellers commit to pushing for lowering pricing Per Barrel. 2) I would Like to see sellers at-least wick the 1HR CHoCh level ($86.42) and then give me a re-test of the failed support level ($86.65)... At this point I'm going to apply my risk in Support of Sellers dropping the Market and targeting ($85.50) Per. Barrell in which would be the EQ level of the 4Hr Pivot Demand Zone.... This trade SHORT can give us about +115 Points in favor. We can easily catch a solid +2.5-3R % Gain depending on your given management system! 3) I need to see the 15m Demand Fail along with the Minor Support Level with confirmed candle closures underneath pricing on the 30m TF below... I also want to see the 1Hr CHoCh level wicked!! ***ALSO price needs to be trading underneath the RED V-WAP as a last min. cherry on top confirmation...Its always a Higher Probable Trade when we are in favor the of the Vwap on the 1Hr TF... REMEMBER NOTHING IN THE MARKET IS SET IN STONE... WE play the long-term of Probability...Lets go to work!! "Its time to REACH EXCELLENCE" -Management500K
NYMEX:CL1!Short
by TreyHighPwr