Oil(wti)
cl, oil trading for Dec 31stFor the last trading day of 2019 not looking for a lot to happen, and as long as oil remains above 60.50. I remain bullish on oil however for daytrading we have a 60.50 and 61.50 range that could be just back and forth.
oil, cl, day trading for Dec 27thAfter one more step up oil balances again, watch red zone and if they break will work for nest upper or lower target. Bias is long but could be getting a bit extended in the short term.
oil, cl, trading for Dec 26thtoday I am not expecting a lot from oil, so be ready for me to be proven wrong, the red zone has smaller targets if it break. If no break will just trade oil back and forth.
USOIL ANALYSISPrice is about to bounce (or breack). that's why we must go to the lower TF and wait for more confirmation.
H4 TF : Show wedge pattern. The plan is to trade the pullback after a strong breckout
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Disclaimer : The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
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cl, oil, day trading for Dec 20thOil is still working on this balance zone and I will trade the sloshing bath tub water until it breaks out.
There is not a lot else to say at this point
cl, oil, day trading for Dec 19thOil is again range bound with a smaller range and then a bigger one ( first blue lines- important) the range trading remains valid until the first blue boundaries are broke. and the red zone will pick the side i bias towards.
XLE with Clean Breakout from 10-month Channel$XLE Perfect 5-point channel from February with clean breakout. RSI breaking out. Could possibly see quick throwback to 60.40 (trend line retest & test of horizontal support), which would be a solid long entry from an RR standpoint $XOP #oil $CL $WTI
cl, oil, day trading for Dec 18thAfter hitting the first higher target yesterday and then pausing the up move, Oil is now testing range just above prior distribution. The important level to watch today is Red zone low, if we go below I would expect us to find balance in the 60 area. In the event we remain above the red zone low then a revisit of the highs and even to next target is most probable.
oil, cl, day trading for Dec 17thOil keeps pushing to the up side and has a nice possible bullish formation, so will be watching a break to the red zone for direction from here.
a move back into yesterdays pricing should see a fast move to 60.
A trade is there based on the red zone break.
USOIL - How much higher?!OIl has been pushing price up steadily for the past weeks.
Will price go higher or can price come back down? We'll be monitoring price in our circled area
oil, cl, day trading for Dec 16thoil has been moving up and working in a smaller balance near the current price highs, I will be looking for long trades as long as red zone bottom holds.
A few top side short term targets are marked off screen above.
If red bottom breaks then would expect we go back to prior distribution around 59
oil, cl, day trading for Dec 13th (Friday)Oil had that breakout of the range as I expected was coming soon and now the important level is if we hang out above this prior level top or move back down inside the prior range. This is the area we are testing as of this writing and is also the level I will be looking to trade long off of. It is a good level due to the defined risk reward levels.
cl, oil, day trading for Dec 12thEverything I said yesterday still applies today so look at link below
oil, cl, day trading for Dec 11thOil is trading inside yesterday and is in a tight consolidation. I will be looking for a decent sized move out of this range and today oil report could be the trigger. My plan is simple watch the red zone for a break and trade small and inside until the break happens.
USOIL - Price dropping soon?How much higher will we go?
Price has printed a rising wedge pattern indicating exhaustion in the market. We will be waiting for a break of trend with corrective structure to the downside.
cl, oil, day trading for Dec 10thOil is trading in about a 1 point range and this can be a good back and forth day trade, and if oil does not break the red zone then back and forth is my game plan.
Will watch action at red top and bottom and will look for failure at each side for a reversing entry.
USOIL - WTI- SHORT SELLI think this is what is going to happen.
Feel free to leave your thoughts on oil :)
cl, oil, day trading for Dec 9thoil has been drifting down and I think we will see a pop back up and if this is right will watch the 58.85 area for rejection if we keep going up then the point the bulls take back over is 59.30 and this I thinks takes us to 59.90.
The second idea is the open is a drop of the small test to 58.85 and then we make a move to 57.80. so will be watching to see if either of these ideas will play out and when I think they will is where I take my trade.
oil, cl, day trading for Dec 6thoil is inside a upper distribution and looks very comfortable, we will need a drop below 57.4 to be called bearish by me. and a move over 59.12 I will call very bullish. I will be looking for a range bound day if we remain inside this consolidation.
oil, cl, day trading for Dec 5thOil is presenting bullish, and today's oil report should be very interesting, will be taking oil easy thinking little will happen prior to report.
I see 58.50 as a very important level today and will remain bullish above that level.
SELL WTIUS crude oil inventories decreased by 4.9 million barrels from the previous week more than expected, which supported the current rally albeit OPEC meeting tomorrow may disappoint oil market if it failed to cut production more than the markets expects, if it preferred to extend the cut agreement only I think prices would drop sharply as usual during past meetings. U.S. crude oil inventories are about 3% above the five year average for this time of year, the shale oil production would cap any rally so it will be short lived.
