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CL

cl oil day trading June 6thtoday's trading range of 51.50 to 52.50 is not giving much more info to today's trades other than further down is most likely in a bit bigger picture. above 52.50 will be looking for resistance at 53 area and below 51.50 will be looking to retest yesterday low. So Today my idea is to be range trading in the range and then look to be holding long from range bottom in the event of a up side break and holding short from the range top in the event of a down side break. In the range its self will be protecting gains at range top and range bottom
FX:USOIL
by alleytrader
2
OIL day trades June 3rdToday looks like a 54 to 56 trading range could be the play so will look to trade back and forth if we remain in this consolidation. A break below will have me hold shorts from above if the signals are bearish, and a break above 56 I will hold the long from below if the signals are bullish. So summary is 54 to 56 I will short the top of this range and long the bottom but as the trade moves towards the opposite range boundary will see if I see enough strength to carry me past this range and if not will take off the profit. alternatively if trading more than 1 lots will reduce size and boundaries and hold a single runner for possible break out
FX:USOIL
by alleytrader
Oil Looking Ready to BreakoutOil seems poised to rip to higher prices after yet another Trump tweet knocked it down 300 ticks or so from the 66 handle down to the 63 handle. Historically, the markets take his tweets seriously in the short term, but nothing has changed in the way of the fundamentals for CL. There is still turmoil in the middle east, Venezuela, and with Iran. Libya and Nigeria in particular have been on the map as of late. Technically, we appear to have completed a nearly perfect Elliott Wave corrective phase. If this is the case, we can expect a breakout from current levels, if not, we will know very soon. We are wrong if it breaks down from $61.71. The Kovach Momentum Indicators note decline in momentum. This has leveled off suggesting a breakout is near. The Kovach Reversals Indicator posits that we are in the middle of a range confirming that a breakout should be near.
NYMEX:CLM2019Long
by quantguy
"Starting the week on USOIL” Multi timeframe view by TAvisionThis is our “Every-Monday” report on USOIL with a full vision over 3 timeframes. 4H CHART EXPLANATION: - Price is on a confluence level (Pullback to TL + Resistance Zone). - Bearish Divergence on MACD. - if price breaks the ascending channel (63.60), it has potential to move down towards the support zone (62.2) - We will be looking for sell setups on lower timeframes. Updates coming soon! MULTI TIMEFRAME VISION: Weekly: Daily:
TVC:USOILShort
by TAvision
"Top and Bottom Analysis" Us Oil (WTI) by ThinkingAnts4H CHART EXPLANATION - Price is currently on an Ascending Channel. - As in the daily/weekly vision, we observe that price is on a confluence level (Resistance Zone + Pullback). - Bearish Divergence on MACD. - If price breaks the Ascending Channel at 63.52, we expect a bearish movement towards 61.98 (Support Zone) and then to the Daily Ascending Trendline. We will be looking for sell setups on a lower timeframe. Updates coming soon! MULTI TIMEFRAME VISION: - Weekly - Daily
TVC:USOILShort
by ThinkingAnts
A full spectrum of views..Here we are dissecting the Daily chart for Oil. From a technical perspective we are completing an ABC correction after an impulsive 5 wave sequence to the downside. The first level of interest for shorts comes in at 61.14 with the possibility we can extend as high as 64.59. As long as we remain below here the moves will be considered corrective. In other words, a tick above the highs will invalidate the positions. Whilst the downside remains the main area of interest here it is worth questioning whether the market has retrace far enough already to kickstart these flows.. Best of luck and thanks for all the support in keeping the account moving forward.
TVC:USOILShort
by ridethepig
3