Cl!
oil, CL, day trading for July 19thToday the usoil chart is not has not rolled to the forward month so have to chart the futures contract. I see a narrow and a wide chop zone and will play oil today that way until it can break over 57.00 or under 54.85
oil, cl, day trading for July 18thAfter a very big day down yesterday a smaller range day would not be a surprise, i have plotted out the S and R lines and shown 3 possible paths. primary idea in Red shows a consolidation range bound trade with the upper and lower boundaries marked, if we move below the lower boundary is idea 2) in Green and shows us moving down to possible area of 56.11. and then third idea is in blue and is a bullish idea and most likely will not happen until some early choppy action. So today could be real easy or pretty hard to get a good indication of the markets intent
oil, cl, day trading for July 17thAfter a big move yesterday I think we either consolidate in a tighter range near the prior days low or we do a 50% to 78% retrace back up to the prior days over night session. The chop range is small between 58.07 and 58.37 with a bigger trade range of 57.65 and 58.60. staying below 58.60 would give me the thought we stay in the lower part of this range and above that point takes me to the 59.45,.55 range. will remain on the look out for a further down move if we can get oil below 57.46
oil, cl, day trading for July 16thIt looks like oil is lifting off a mid term low and will test back into higher distributions, and is currently trading above my chop zone of 59.90 ara, the lower boundary of chop is 59.20. the area above i think we see R is 60.25. and looks like we will get there, so will be looking for long entry points if we remain above the chop zone.
oil, cl, day trading July 15ththe pre RTH market action in oil has been developing two distributions inside a multi day consolidation, so until this multi day breaks will look for range type trading with a few different upper and lower supports and resistances. The main area to see what direction the future may have is 60.62 and 59.90 remaining inside this range keeps me thinking sideways style range trading
CL, oil day trading for July 12thToday we are currently trading in the bottom end of a upper distribution and the bottom of that distribution is very important to my trading direction, as long as we are above 60 to 60.14 area I lean very hard on the long side and will not look at short trades until below that line in the sand. the upper resistance is at 60.78 to 60.85 and until above that will only expect range style action. In the event we break this zone the upper and lower targets will come into view.
oil, cl day trading July 11thover night range decreased lots and make me think a smaller consolidation trade is in store for the day. so will watch 60.94 and 60.36 for a idea if oil will get directional, if not that will be the trade range I will watch
WTI cfd CRUDE USO CL SHORT SETUPDaily chart, short term momentum bounce trade.
Entry Blue: 59.45 / 59.95 area
Stop Red: 60.55 (hard stop/ above recent resistance)
Target: 58.05
CL, Oil day trading July 10thOver night had a very strong up move and is in the middle of a prior consolidation so we could get a choppy session as the market tries to find buyers and sellers. getting above 59.75 could prove to be hard today and if it does then will target 59.94 to 60.07 area. and we could also find support in the 59 price point. with a below target of 58.63. will keep a range trade concept unless market shows me different.
CL, Oil day trading for July 9thToday looks to be one more consolidation trading day with a small trading range of 58.20 and 57.40, a move above this range will target 59 with Resistance at 58.50 and a move below the range give us a lower target of 568.86, will look for a reaction that I can get a hold of for a trade either inside the range or a break out.
CL1!, oil, day trade July 5thToday will be looking for oils next direction based on the range of 57.22 and 56.23. after these areas are broke we then have to see confirmation of further direction or a impulse going the same way. If not a range trade will be pursued
Waiting for the breakout on USOILWe expect the breakout on USOIL, remember the condition:
Gasoline is the leading indicator from Crude Oil
CL, OIL< Day trades July 2ndover night action is reasonably balanced and is sitting on lower break down area as of this typing. will look to see if we range trade or break down at 58.20 area. if back into the that looking for the top of range at 59.40. So will lean long over the range top and short under the range low. Upper target is 60.20 and lower target is 57 The 58.20 and 57.80 will be possible bounce points and also rejection points, so a plan will be if we break down does the support become resistance and if so that is a good stepping off point.
CL, Oil, Day trades for July 1Today we do not have a lot of information to run with sow will be watching the 60.30 area for the top range boundary and 58.60 as the bottom boundary. This is a nice size trade range and after some observation will provide more details if anything changes
CL, OIL, Day trading for June 18thToday looks like a tight consolidation day to me and will will be watching to see if any break outs, if now will be trading the marked areas as a range trade day, if I even trade oil today
CL, OIL day trades June 27thToday we are looking long on a sustained break over 59.30 for a target of 59.60 and 60.80, will look for a move above and a retrace to 59.30 for the long or an impulse move up. a failure to get above this level will bring us back into a range trade concept.
Long term idea - possible ABCD in oil? This is one ballsy idea, however it's definitely one of the options and would nicely backtest broken trendline. Lets see how this unfolds, but this is something I will definitely keep back in my mind with all that bearish bias around.
CL, Oil day trades for June 26thAfter the API report oil popped up one more time, and then balanced overnight so will look for the continuation to the up side. however will NOT be in the market at 10:30 during today's inventory report. the range I will be look to see if it breaks either way is 59.20 and 58.65 much smaller range than normal.
CL, OIL, day trading for June 25thGood sized trading range for today and until it breaks this range I will focus on the range style of trade. 58.22 and 57
Oil, CL day trade ideas for June 14thLooks at this point oil will trade in a tight mall range, if we break this range will post extended targets when I see what the day is bringing. The range to start looks to me to be 58.50 and 57.60, with a tiny extended range of 59.00 and 57.40. The plan will be to trade this range short from tops and long from bottoms and will trade continuations if we break outside this small range.
Oil, CL day trades for June 21stthe neutral range today is 57.00 to 58.00 so look long above ans short below. Yesterday I laid out how I trade these ranges and break outs. Above will target 58.70 and below target is 56.00
