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CL

Financial Wave. CLWe have adjusted our priority scenario in CL. Downward acceleration in wave 3 looks most likely and could bring oil prices to $62.92. If the price of oil rises to $81.72 we’ll change our view. In support of our opinion, we also want to note: 1. Strong winds and mild temperatures will certainly reduce energy demand. 2. Bubbles burst in the financial markets. One of them, the real estate market in Canada, UK, Sweden and Australia. This is another sign that social sentiment is turning negative.
NYMEX:CL1!Short
by Financial_Wave
Crude Oil Weekly Volatility Analysis 12-16 Dec 2022 We cCrude Oil Weekly Volatility Analysis 12-16 Dec 2022 We can see that currently the implied volatility for this week is around 6.51%, up from 6.33% from last week according to OVX data With this in mind, currently from ATR point of view we are located in the 83th percentile, while according to OVX, we are on 77th percentile. Based on this, we can expect that the current weekly candles ( from open to close ) are going to between: Bullish: 4.62% movement Bearish: 5.6% movement At the same time, with this data, we can make a top/bot channel which is going to contain inside the movement of this asset, meaning that there is a 21.3% that our close of the weekly candle of this asset is going to be either above/below the next channel: TOP: 76.33 BOT: 67.24 Taking into consideration the previous weekly high/low, currently for this candle there is : 30% probability we are going to touch previous high 76.2 67% probability we are going to touch previous low 70.1 Lastly, from the technical analysis point of view, currently from Weekly timeframe indicates -66% BEARISH trend from the moving averages index Daily timeframe indicates -80% BEARISH trend from the moving averages index 4H timeframe indicates -53% BEARISH trend from the moving averages index
NYMEX:CL1!
by exlux
CL Daily Long Idea. Will support holdThe CL daily time frame has pushed bullish off the monthly support price point 74.40. The market pushed bullish above the inner trend line and is showing signs of a potential bullish trend to form. There is another level of resistance above the market at price point 88.31 about +810 ticks above the market. As long as the market stays above 74.40. It will be a good idea to turn to the one hour time frame and look for low prices in the buy zone.
NYMEX:CL1!Long
by Traders-Agency
Crude Oil is BearishNYMEX:CL1! Crude Oil futures marked on the 4h chart After being neutral the past week due to ranging behavior, CL has just possibly shown its hand on where it is headed to in the short term. Confluences Overall bearish order flow since the summer. Liquidity grab at the double top (marked with the X line). Market Structure Shift (MSS) by breaking the short term low at ~87.60. Retraced into 4h imbalance and rejected it, thus showing it is respecting a premium price and now seeking a discount. In premium of September 26 - October 9 dealing range as shown by the fibonacci. Looks like bread-and-butter sell model in the making. Current signs show oil is intending to go lower. I am anticipating at least 81.30 as a target level because there is a liquidity void resting below it.
NYMEX:CL1!Short
by Sans_Sheriff
3
Elliott Wave View: Oil (CL) Has Started New Leg HigherShort term Elliott Wave view in Oil suggests the rally from 9.26.2022 low is unfolding as a 5 waves diagonal. Up from 9.26.2022 low, wave (1) ended at 93.64 and pullback in wave (2) ended at 82.11. The rally then resumes and Oil has broken above wave (1) peak suggesting the next leg higher has started. It also shows a bullish sequence from 9.26.2022 low, favoring further upside. Wave (3) higher ended at 93.74 with internal subdivision as 5 waves impulse Elliott Wave structure. Up from wave (2), wave 1 ended at 90.36 and pullback in wave 2 ended at 87.60. Wave 3 higher ended at 92.87, and pullback in wave 4 ended at 90.40. Final leg higher wave 5 ended at 93.74 and this also completed wave (3) in higher degree. Wave (4) pullback is now in progress to correct cycle from 10.18.2022 low before the rally resumes. Near term, as far as 10.18.2022 pivot at 82.11 stays intact, expect dips to find support in 3, 7, or 11 swing for more upside. Potential target higher is 100% – 161.8% Fibonacci extension from 9.26.2022 low which comes at 99.7 – 110.5.
NYMEX:CL1!
by Elliottwave-Forecast
Fed may destroy Oil Demand - Stay CautiousAs soon as the US Fed shifted into rate increases - traders should have suddenly elevated their protection tactics. The Fed's objective is to beat inflation and remove the easy money mentality. In order to do that, they may have to break consumers, industry, global economics, and the general demand cycle for cars, homes, credit/debt, and more. What happens when the Fed raises rates to a point where the global economy comes to a crashing halt? Consumers react by pausing or stalling travel/spending plans - creating demand destruction for Oil, Lumber, and other commodities. In my opinion, it is just a matter of time before Crude Oil collapses downward, headed into a typical seasonal cycle (winter). I believe we may be entering a period of very dangerous demand destruction as the US Fed may have pushed rates too high (again). Stock up. Things could get really WONKY. Follow my research.
NYMEX:CL1!Short
by BradMatheny