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Jun18 WTI CL2! Oil NeutralWTI Jun CL2! It is rare for a major trend line to be penetrated and for that movement to continue the same day. So that is why I believe we will see some oscillation around this break on the Major for a day or 2 while price consolidates its latest movements. This will also be a major decision event as we have a trend break but a wedge coil under development, imo. If the trend line break does not hold (fake out) then the wedge will propel price higher. Expect at least 2 and possibly 5 tests on the rising trend line but price will be circa $63+ so you will know this. Use the pull backs as re-entry points or add-to's or top ups. Target $66 If price fails to regain the Major the look for a close below the Secondary. Price should retest this old support line now resistance. Look for inverted hammers or pin bar lows to suggest buyer exhaustion. Target $58 Also be aware that the May contract will roll circa April 20 so expect the OI to move about a week before that or on major oil news ... like a Syrian event. Remember material support sits at $60 and $58 I will up date as price progresses. ... just a further 2c worth ...
NYMEX:CL2!
by Oh_If_Only
CL2! WTI Wedge wobble then LongHello Supporters, Followers and General Interest Sideliners, Ok my rectangle got hit and we are sitting on major support. Take Short profit now. This price action is now taking on a developing wedge appearance. I believe price will wobble here for a few days then break to the up side. Take a Long position if the Red indicator line gets above 40 then rolls over. Ideally wait for a second lower peak and then a move down for entry - similar to a divergence. Also watch the MACD Histogram for higher trough bars. I will update with price targets over the week end. I will also provide my view on possible down side breaks indicating $60 is the new target. Thank you for support and interest in my views. ... just my 2c worth
NYMEX:CL2!
by Oh_If_Only
5
CL (OIL) - DOUBLE TOP - SHORTGood afternoon everyone! Today consider CL1! more globally. We have formed a classic figure: "double top". This is a very strong signal in a short position, the nearest support level is at the price: 61.27 (POC1), this is our immediate goal. If this level is broken through, the next target at the level of 57.63 (POC2), where the EMA 200 is located, overcoming this level will be a stronger signal in the short position with the potential for movement to the base of the vertices. STOCHASTIC RSI is pointing down, which confirms the forthcoming movement
NYMEX:CL1!Short
by fvb
4
CL GO UP! This week, oil failed to overcome resistance at a price of 66.55 (January). The EMA 50 was pierced, followed by a rebound from the EMA 200. The nearest resistance is 65.51, in case of not overcoming this level, the pattern is possible: a double top with a signal for a short position. Nearest support 64.66. In the near future, more likely to retest the resistance level of 65.51, which is confirmed by EMA 20 and EMA 50. Our trading robot is also aimed at a long position I do not recommend entering into a deal or making conclusions on Monday, at the beginning of the week there is a set of positions of large companies. All good trades
NYMEX:CL1!Long
by fvb
CL - Crude reached it's balance - what now?As we see, price reached the Centerline, which is Rule Nr. 1 on ForkTrading: "Price reach the Centerline over 80% of time". OK, but what now? Energies move from balance to extremes. This means, that price will either drop to the L-MLH, or trade through the Centerline and towards the U-MLH. Since we don't know what will go on from here, how about to take both sides? Wait...trading Long AND Short? Jep! Follow me on my trading blog (see footer) and see how I'l will plan this. P!
NYMEX:CL1!
by Tr8dingN3rd
Crude oil AB=CD Bull pattern >> final bear legIt doesnt get much easier than these! USD or DX is our price driver but the pattern remains none the less. Price target is $62 for profit taking, then hunting for dbl bottoms or unusual fundamental shifting in crude to spot the support reversal above $62 If anyone new to futures is playing test or real funds also look into trading 1 mini crude contract. Its much safer to hold and wont destroy your account. NQM is the mini crude ticker. cheers!
NYMEX:CLH2018Short
by j_nathan
Crude Oil Short_CLG18_Wave&Fib Analysis_Strategic entry desiredEvening traders. Crude oil appears to present the best pattern for swing trades on this 4 hour chart. Like EUR/USD and DXY, they are at the end of 5 wave impulse pattern. Next step is to complete a three wave correction which should take us between wave 3 and wave 4. That being said I'd really like to see price push back up to the strategic entry labeled on the chart. Price has rejected the level once already. I had not developed the trade theory at that point or that would have been a perfect entry. That move only stands to influence our confidence in this setup. It is proof of overhead resistance and new found downward momentum. I feel comfortable taking the aggressive entry to be in this market. I'd risk 2% (1 contract) at the aggressive entry and 1% (1 contract) at the strategic price. 3% total position. This way I've got low risk if price shoots up and fills the strategic entry and runs to the stop, but I've also got enough skin in the game to be content if this pattern plays out. (Obviously futures contracts are not able to determine percentage risk, so I did single contracts instead. I will be trading with ETF) Goodluck! IF you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated! Disclaimer: Nymex data shown. This is NOT investment advice.
NYMEX:CLG2018Short
by UnknownUnicorn981629
CL - Crude overviewHere you see 4 different timeframes: Quarterly (Upper Right) - price reached a natural resistance level, where a break is expected Monthly (UL) - the quarterly natural resistance level, mirrored on the monthly has confluence with the Centerline. Price reached the Centerline a couple times now. If we can't crack the Centerline, then price will fall back, at least to a quarterly natural support level. Weekly (LL) The weekly Fork gives more insight. Here we see that there is more room to the Centerline. But as we know, markets breathe in and out. So a pullback to the weekly levels would be no surprise. From there, a further attack towards the Centerline would be expected, because this slope of the Fork is different then the Weekly! Daily (LR) Crude cracked the last days high and is falling below it, as of the time I write this analysis. Potential levels are the weekly and the L-MLH too. Depending on your trading timeframe, you know have a lot to go through and many potential levels to trade off. Consider the footer of this analysis to learn more. P!
NYMEX:CL1!
by Tr8dingN3rd
2