cl, oil, day trades for Aug 26thoil is either moving back into its prior distribution above 55.21 and if so will target 56.17 however if we move below 54.4 then a stronger lower distribution is going to form that will have a range to as low as 53.20
CL
oil, cl, day trading for Aug 23rdoil trade very orderly until the tweet(did not check assuming tweet, but does not matter same effect) drop early this AM. and now we have a interesting situation. 1) we can retrace a little and keep moving down, I will be watching my Red zone. 2) that like other times we retrace the entire move back to location at time of tweet. Again watching close my red zone and also watching to see if we get back into yesterday distribution for directional clues.
oil, cl, day trading for Aug 22ndOil is in a big range between 55.20 and 56.50 and has no real direction until it breaks free of this area. however a move below 56 could see a nice trade down to the lower boundary. there is not much meat on the bone for the long side until it breaks out of this range or revisits the bottom of the range
Crude Oil Tests the $57 ResistanceDuring the Wednesday session, Crude Oil (NYMEX:CL) futures have been traded mostly bullish. Previous to the Energy Information Administration (EIA) Inventories release, the crude soared to $57.13 per barrel, the highest level of the week. The EIA reported a reduction on the inventories to -2.732 million barrels, more than the 1.89 million barrels forecasted by analysts.
cl, oil, day trading for Aug 21stOil has moved up into a very balanced distribution and is now looking to resolve one way or the other. This 45 tick range will most likely not contain oil prices today and will provide a good breaking trade opportunity. will watch for a impulsive move and trade the follow up to that break with trail stop tightening near marked targets.
cl, oil, day trading for Aug 20thTrading almost at prior session close with a very balanced action following a very strong up move yesterday. Today could see a consolidation as it digests yesterdays move. I will b e looking for this sideways action to formulate today's trades. As long as we remain above 55.80 will lean long for the bigger picture and above that and below 56.55 will stick with choppy action.
oil, cl, day trading Aug 19thuntil oil clears the Red zone looks like will be looking for longs from red zone bottom and short from red zone top. and will get directional after a firm break out and test to either higher or lower.
47.65 nivel clave en el crudo $WTI por volumen institucionalDe acuerdo a la estructura del volumen presentada en los contratos de futuros del crudo WTI, podemos identificar el nivel de los 47.65 como una importante zona de control. Este será un importante nivel de soporte que si es violado, se convertirá en resistencia. En el muy corto plazo es muy probable que el mercado intente re visitarlo.
Saludos
cl, oil, day trading for Aug 16thoil looks to be very balanced and is getting ready for a good sized breakout, I do not think the break out happens today but the outside blue boundaries, if broken will change my mind if a move out side this range is held. So today I will be looking for a range bound day with two possible trades. 1) short from top of blue zone and long from bottom of blue zone and 2) a 50 rick break above the top of the red zone and a 50 tick break below the bottom of the red zone.
oil, cl, day trading for Aug 15thThe overnight session has oil trying to finds its happy place between the red lines and could be a nice chop range for trading, So will be watching this area for a breaking move or a consolidation. 1st idea will be to trade the possible chop, and 2nd idea is trade the direction of a break out after it happens and confirms to not just be a stop sweep.
Will attempt to update when teh days ideas come to light.
cl. oil, day trading for Aug 14thYesterday, wow, what more can I say, it did what I thought it could do but sure did not give much time to react, so will just move on. The high in oil I would say is above yesterday so will be looking a bit bigger picture to be bullish oil. but will also watch the red line boundaries set out. The boundaries are not as clear today as normal but will still work to help pick a bias to what side I like to be leaning on.
We have returned to the spot we where at prior to the pop up so a choppy day to re work this price level would not surprise me, however a bigger move would not ether. I know talking non committal but the action will help form that commitment so lets observe and see what trade I can get off.
oil, cl, day trading for Aug 13thafter yesterdays small up move and a overnight session that has been happy at these new levels I will be looking for a back and forth action between the red lines. Now any move that is maintained outside this range I will bias the break out direction. In the even of the break out will post more target number even though many are drawn in. So looking for shorts from the range top and long from range bottom until this is proven wrong.
oil, cl,wti day trading for Aug 12thoil looks like it wants to rework the Friday's range and when in this range we will see if oil will move back higher and re test the upper levels marked. Will have to see but we may not get a very big movement today, so will be keeping a close eye on the action and this will help me pick a side for today.
Crude Oil Monthly In Descending WedgeWTI linear scale monthly study highlighting descending wedge and ascending channel.
oil, cl, day trading for Aug 9thlate into the overnight oil had a nice rise and is finding some volume at these levels so will look for further long if we remain above 52.91, we do have some resistance to watch out for on this long trade at 53.36 and 53.75 and above these levels the longs should have control heading into next week. A move down below 52.91 should see a test of the current lower levels, not sure all the way to the 50.54 but if it did then would start looking back to 45 area.
So starting idea for me will be to look long as long as we remain above the level mentioned.
oil, cl, day trading for Aug 8thOil moved up over night then found a balance point, This could be a bearish retrace or a early part of a up move. I will be watching 52.85 and 51.90 to form my directional bias for the day. IF we remain inside this zone will look to trade long and short off these same levels. Upper and lower targets are marked in the event of a breaking move.
Breaking move will be a long on break retrace and the same for short.
cl, oil, day trading for Aug 7thToday in the early session oil has had a sharp move down and we also have the oil report today at 10:30 EST. Will be flat leading into the report unless I can get a well protected trade. As long as the market is below the lower red line I will be leaning on short trades. In between the two red lines watch for a choppy action and I will be looking for long trades above the top red line.
Any action I see during the day I will post it as I see it.
Crude Oil - 1h Chart AnalysisMain Scenario : long positions above 54.45 with targets at 56.05 & 56.50 in extension.
Alternative Scenario : below 54.45 look for further downside with 54.00 & 53.60 as targets.
CL update , Bullish reversal ?seeing this pattern makes me change my view to bullish , hopefully im correct and it will be a good trade
Goodluck.
oil, cl, day trading for Aug 5thfrom re open oil has been drifting lower, on RTH we could see it move up to 55 area and then continue it's march down. any move above 55.40 I will think a bigger bounce is in play. So will be looking for short trades below that level and long above.
Bull Flag Formation on the Daily Chart?It appears WTI crude oil may be finishing the formation of a bull flag on the daily chart, and that today's low, after a 7%+ decline in the spot price (due to Trump's announcement of 10% tariffs on Chinese products), may have been the bottom of the formation.
Developing...
Thoughts? Would love to hear what you think and where you see oil prices headed.
