Crudeoil 1 Hr Chart
Price is consolidating in the range of5240-5265 . Main trend is downtrend so far as price has unable to breakout upside as this is a very strong resistance at its Fib level 0.55-0.618.
Sell it below 5240 as it will attract towards the Pivot levels.
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CRUDEOIL1! - Pitchfork levels
CMP: 5180
TF: Multiple
On hourly TF, price is getting rejected at the supply zone (5280-5320) and this fall could potentially move a lot lower if it fails to move above/beyond 3530 levels.
The immediate supports are the midpoint of the pitchfork line at 5130 and the previous consolidation zone a
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Harmonic BAT or CRAB formation in CRUDEOIL for 5000 or lowerTF: 60 Minutes
CMP: 5156
I have published an analysis based on Pitchfork set up on Crude and you can read about in the link given below.
Here, I am posting the view based on Harmonic Pattern formation.
Since it has closed and sustained below the recent swing low of 5170, two levels have opened up
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Light Sweet Crude Oil pressing major support — oversold bounce
Current Price: $56.74
Direction: LONG
Confidence Level: 60% (Price is sitting on a heavily referenced support zone, downside momentum is stalling, and trader discussion is increasingly focused on rebound scenarios despite a weak broader trend)
Targets:
- T1 = $58.30
- T2 = $60.00
Stop Levels:
-
WTI Crude Oil: Breakout & Retest Confirmation at Macro SupportMarket Setup: WTI Crude Oil ( NYSE:CL ) has shifted from a multi-year bearish regime into a high-probability bullish reversal. After breaking the primary 2022–2025 descending trendline, price action is now providing a textbook confirmation entry.
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A representation of what an asset is worth today and what the market thinks it will be worth in the future.
Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
The nearest expiration date for Crude Oil Futures (Sep 2018) is Aug 21, 2018.
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 (Sep 2018) before Aug 21, 2018.









