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Crude Oil Futures WTI (CL1!)

WTI Light Sweet Crude Oil 4/25/23For Tuesday, 80.11 can contain weekly buying pressures, below which 76.20 remains a 3-5 day target able to contain selling through the balance of the week. A daily settlement below 76.20 signals a good weekly high, the targeted 71.76 then expected by the end of next week, where the market can bottom out through May and a meaningful downside continuation point over the same time horizon. Upside Tuesday, closing above 80.11 signals 82.29 within several days, long-term resistance able to contain buying into summer, and below which 71.76 remains a 3- 5 week objective. Inversely, a weekly settlement above 82.29 would indicate 95.91 over the following 2-3 months.
NYMEX:CLM2023
by SpecialeAnalysis
CL1! Will Fall! Short! Please, check our technical outlook for CL1!. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 79.46. Taking into consideration the structure & trend analysis, I believe that the market will reach 73.95 level soon. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Oversold refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
NYMEX:CL1!Short
by SignalProvider
7
CL1! Technical Analysis! BUY! My dear subscribers , I analysed this chart on CL1!, and concluded the following: The market is trading on 81.07 pivot level. Bias - Bullish Technical Indicators: Pivot Points High/ anticipates a potential price reversal. Super trend shows a clear buy, giving a perfect indicators' convergence. Goal - 85.40 Recommended Stop Loss - 78.47 About Used Indicators: For more efficient signals, super-trend is used in combination with other indicators like Pivot Points. ——————————— WISH YOU ALL LUCK
NYMEX:CL1!Long
by AnabelSignals
15
WTI breaks out of consolidation, $90 up next?WTI broke out of consolidation and closed above its 200-day EMA and resistance zone. The OBV (on balance indicator) confirmed the breakout with a move to a new cycle high, and volumes (whilst below average) are turning higher to show buyers stepping back in. Furthermore, we saw a gap ahead of the consolidation above HKEX:79 , although using classic definitions it doesn't quite fit into 'breakaway' or 'runaway' gap category. Regardless, we've seen a 30% rally from the March low with a gap along the way, OPEC+ cut oil production, and the trend points higher. With that said, the 200-day MA is capping as resistance, so bulls may want to wait for a break (or daily close) above the level. But overall, the risks appear skewed to the upside. - The bias remains bullish above 79 and an initial move to 90, then the 93.60 highs - Wednesday's low could be used for tighter risk management
NYMEX:CL1!Long
by CityIndex
WTI falters around $70Oil prices fell to a 15-month low as investors fretted over the potential for a financial meltdown. Whilst that is yet to fully materialise (or if it does at all), investors remain a little on edge - with news of the latest Hindenburg report accusing Block (SQ) of fraudulent activity not likely to quell fears. WTI has manged to lift itself from its 15-month lows, yet volumes declined over this period to suggest the move was corrective. A bearish Pinbar also formed, which not only failed to test the $72.46 breakout level but also closed back below $70 and the December low. Also note that a bullish hammer has formed on the US dollar index (DXY). - We're now waiting for a break of Wednesday's low to assume bearish continuation, with target zones made up of Fibonacci expansions and round numbers residing around $65 and $60 in focus. - The bias remains bearish below $72.46, although yesterday's high can also be used if a tighter approach to risk management is preferred.
NYMEX:CL1!Short
by CityIndex