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Cl!

Could 18.99 be the bottom for CL?CL is in a sideways movement. The monthly time frame shows the market is at support and hitting a down monthly fib extension. The one hour is in sideways movement near the bottom of support and there is a one hour fib extension at 18.99. I am looking for a counter trend line break bullish. I'll be looking to buy the U-turn and not guess the U-turn (Big mistake when you try and jump in early). First target around 28.00 the Daily future resistance.
NYMEX:CL1!Long
by JoshuaMartinez
2
Oil WTI, H4 - new downard impulse wave?As we mentioned in the previous analysis, the price of WTI oil has accomplished the pattern of an irregular correction. Currently, the potential support at 23,52 USD seems to be broken and the new downward impulse wave may occur. As a consequence, the low of wave B may be broken in the near future and the way to the new lows may be open. ________ Daniel Kostecki, Chief Analyst Conotoxia Ltd. Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
TVC:USOIL
by Daniel_Kostecki
Oil WTI, H4 - the end of an irregular correction?In the previous analysis, we mentioned that an irregular correction labeled ABC may appear on the oil price chart. Since then, wave C has ended and the price of oil has started to fall. As a result, the irregular correction may have ended, which in turn may lead to a new downward impulse. Therefore, the area of USD 28.20 remains an important resistance point and until the level is not broken, the downward trend could be continued. ________ Daniel Kostecki, Chief Analyst Conotoxia Ltd. Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
TVC:USOIL
by Daniel_Kostecki
Why Crude oil will go to $ 20 per barrel (Cycles)All arguments are my subjective opinion 1. In such a large amount of oil is necessary to nobody. Supply exceeds demand 2.Transition to electricity 3. Shale oil - another attempt at manipulation 4.Saudi Aramco - largest capitalization company in the world (another bad call for me) Many fundamental arguments can be made, but this is a virtual trading chart and it has little to do with the real world. it is a world of financial markets. There are few arguments from financial markets: 1. This is a futures oil chart. the largest players in futures oil Goldman Sachs, JP Morgan, City Bank 2. All of the world's oil is traded exclusively for dollars. this is called petrodollar. there were a couple of people who wanted to change this system, but these people are already dead. Saddam Hussein, Muammar Gaddafi, Christophe de Margerie and possibly someone else. therefore, oil is another instrument to strengthen the dollar. example for $ 100 now you can buy 2 barrels of oil and if the price is $ 20 you can buy 5 barrels of oil. The same story happened in 2014 when oil fell from $ 100 to $ 30. Saudi Arabia has been talking to the media for a year increasing oil production, as you understand Saudi Arabia does not participate in the pricing of oil prices, because we see a chart of futures oil on the market All national currencies depreciated, and the dollar strengthened. 3. most likely these instrument will be used during the next fall of the US economy 4. We moving in downtrend channel 5. Cycles Best Regards EXCAVO
NYMEX:CL1!Short
by EXCAVO
26
oil, cl, day trading for Mar 25th 20202Oil has been moving all over the place but has come right back to yesterdays trade range, So a balance inside a bigger balance. I will be looking for the first balance break (red zone) and then watch at the big balance area from a few days back for rejection or a confirmation of bigger picture direction. Oil can remain in a small choppy range for some time but I think will have a big break out or down when it comes out of this balance. Will be selective on my trades in this product right now.
TVC:USOIL
by alleytrader