Crude Oil (WTI) Futures CL Priority way on 28.10.
WTI Oil Futures Analysis
Key Parameters:
Current Futures Price: $71.78
Open Interest (OI):
Put Options: 4,283
Call Options: 14,421
Volume:
Put Options: 2,390
Call Options: 7,760
Key Observations:
Heavy Call Options Overweight:
Open Interest in Call Options is almost 3x higher than Put Options (14,421 vs. 4,283), suggesting bullish sentiment or fear of missing out on a rally.
The Volume Ratio (0.31) also confirms that current trades are being actively opened in Call Options.
Key levels:
Price 72: Close to the current price and activity in both call and put options. This may act as a resistance level that the price must break through to continue its rise.
Prices above 73-74: Significant volumes in call options are concentrated here, indicating that participants are expecting a possible upward breakout.
There is moderate activity in put options in the 69-71 zone, which may act as support in the event of a correction.
Trading recommendations:
Long when level 72 is broken:
A long position can be opened if the breakout is confident and consolidated above 72.
Targets: 74 and 76 (according to the zones of maximum open interest).
Stop loss: below 71 to limit risk.
Short from 74 or when returning below 72:
If the price reaches 74 and shows signs of a reversal, a short position can be opened.
Target: 71.
Stop Loss: Above 75 to avoid losses in case of an upward breakout.
Channel Trading:
If the price stays in the 70-72 range, you can use channel trading with limited targets and tight stop losses.
Summary:
The market is showing bullish sentiment with activity prevailing at levels of 72 and above. Continued growth is expected if the price breaks through 72. In case of failure at this level, a short-term correction to 71 is possible. It is recommended to focus on long positions when 72 is broken
-------------------------------------------------------------------------------------------------------
These posts are recommendations for building trading ideas for the day. All recommendations are based on personal experience and analysis of incoming market data.
Key Parameters:
Current Futures Price: $71.78
Open Interest (OI):
Put Options: 4,283
Call Options: 14,421
Volume:
Put Options: 2,390
Call Options: 7,760
Key Observations:
Heavy Call Options Overweight:
Open Interest in Call Options is almost 3x higher than Put Options (14,421 vs. 4,283), suggesting bullish sentiment or fear of missing out on a rally.
The Volume Ratio (0.31) also confirms that current trades are being actively opened in Call Options.
Key levels:
Price 72: Close to the current price and activity in both call and put options. This may act as a resistance level that the price must break through to continue its rise.
Prices above 73-74: Significant volumes in call options are concentrated here, indicating that participants are expecting a possible upward breakout.
There is moderate activity in put options in the 69-71 zone, which may act as support in the event of a correction.
Trading recommendations:
Long when level 72 is broken:
A long position can be opened if the breakout is confident and consolidated above 72.
Targets: 74 and 76 (according to the zones of maximum open interest).
Stop loss: below 71 to limit risk.
Short from 74 or when returning below 72:
If the price reaches 74 and shows signs of a reversal, a short position can be opened.
Target: 71.
Stop Loss: Above 75 to avoid losses in case of an upward breakout.
Channel Trading:
If the price stays in the 70-72 range, you can use channel trading with limited targets and tight stop losses.
Summary:
The market is showing bullish sentiment with activity prevailing at levels of 72 and above. Continued growth is expected if the price breaks through 72. In case of failure at this level, a short-term correction to 71 is possible. It is recommended to focus on long positions when 72 is broken
-------------------------------------------------------------------------------------------------------
These posts are recommendations for building trading ideas for the day. All recommendations are based on personal experience and analysis of incoming market data.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.