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🛢️📉 Crude Oil top reversal: CL1! - back to H&S neclineformed a bear flag by wave (c) in massive weekly supply zone. Now iam expecting fall back to H&S pattern couple days back to test for demand in red area at $62.My sweet spot to short entry is in blue area which will be tested for supply between 64.34 - 64.87 here is data for my trade: ------------------------Trade setup --------------------------- Entry: 64.51 Stop Loss: 65.27 Profit target: 62.01 Time stop: 2 days ------------------------------------------------------------------ If you like the idea, do not forget to support with a 👍 like and follow. Leave a comment that is helpful or encouraging. Let's master the markets together.
NYMEX:CL1!Short
by Tomasgei
2
Crude Oil burnt out Seldom post about Crude Oil but this is too obvious to miss and a very good learning point... You see, Crude (and Energy) has recently been on fire (almost literally) with the rise of Crude oil due to many factors in recent months. The thing is, warning signs appear to tell of a retracement pullback, or even end of bull run. The Weekly chart kindly heads up with long upper tails above 61.50. The RPM clearly warns of a pull back too. Net interest from Non-Commercials are not increasing as it was in early Nov, and the Top 8 Traders appear to be going more Net short. Perhaps the daily chart (right panel) shows it clearer... with a marubozu-doji-reversed marubozu top pattern, and technicals to boot where RPM has crossed down, and MACD cross down after a bearish divergence flatline. Something is clearly about to change... the party is almost done.
NYMEX:CL1!Short
by Auguraltrader
2
Dead wrong on Oil, but what now?Obviously my previous predictions on Oil were wrong, however, it is hard to forecast a vicious virus from the far East. Now, the doomsdayers are back, touting their long bond positions with gold, saying "I told you so." Those positions have worked, and oil has tanked. To be clear, I don't dislike bonds or gold here, but Oil is ripe for a rebound. We are deeply oversold, indeed, I believe this sell-off is far overdone. From a pure technical perspective, the RSI is now turning, and MACD looks to be bottoming out. We should retest the ~60 level again, as this was the previous range bound channel crude was trading in. If 50 is broken, this thesis is invalidated and I am dead wrong. We will see.
NYMEX:CL1!Long
by MT-Macro
Nice setup to short Crude oil falling channel 🛢️📉NYMEX:CL1! is trading now in long-term supply area ( resistance). After estabilished triple top price pattern we could see trading NYMEX:CL1! in falling channel.On hourly timeframe its clear downtrend and price forming hanging man pattern. After breakdown diagonal trendline price is testing it, its perfect setup to short entry. here is data for my trade: ------------------------Trade setup --------------------------- Entry: 52.62 Stop Loss: 52.92 Profit target: 51.54 Time stop: MOC ( Market on Close) ------------------------------------------------------------------ If you like the idea, do not forget to support with a 👍 like and follow. Leave a comment that is helpful or encouraging. Let's master the markets together.
NYMEX:CL1!Short
by Tomasgei
1
Upward channel on SCO: Short Crude Oil at TopHi mates, i posting another of my todays trades. Its based od triple top on in my another idea posted few days ago. Its in realated. here is data for my swingtrade: ------------------------Trade setup --------------------------- Entry: 9.98 Stop Loss: 9,82 Profit target: 10,62 Time stop: 3 days ------------------------------------------------------------------ If you like the idea, do not forget to support with a 👍 like and follow. Leave a comment that is helpful or encouraging. Let's master the markets together.
AMEX:SCOLong
by Tomasgei
2
Oil Playbook ( 2021 )Prices for Crude Oil are down -20% from last year which means the bearish outlook is priced in. The bearish outlook is that the -16% drop in consumption outweighs the -7% drop in production plus the 4% increase in inventory stockpiles. Bulls want to know if demand has bottomed or not and since consumption tends to be highest in Jan-Feb, it might have further to fall since travel is still lagging. However, exports have recovered and circling back, the -20% discount in crude prices indicate the market is fundamentally balanced given the uncertainty. Production 2019 Average: 12,197 2020 Average: 11,318 %Change: -7.76% Stockpiles 2019 Nov: 1,918 2020 Nov: 2,003 %Change: +4.24% Consumption 2019 Average: 1,070 2020 Average: 916 %Change: -16.81% Exports 2019 Average: 8,471 2020 Average: 8,407 %Change: -0.76% Trading Strategy Swings in the dollar index are primarily moving prices so this will create the trading opportunities in the near term. Get ready. There is a momentum divergence on the DXY daily chart and the RSI has some room to run. Crude prices have reached a resistance level. If the Dollar index does start to rally then crude prices are going to waterfall. Best to wait for a decisive candle closing below the 10 day EMA before making a short trade. Trading is risky. Don't do it. Long oil/gas producer equities KMI, LUKOY, EQT
NYMEX:CL1!
by trade-God
Crude oil under pressure - 📉 Trading bearish flag on CL1!🛢️If you like the idea, do not forget to support with a 👍 like and follow. Leave a comment that is helpful or encouraging. Let's master the markets together. Hi fellows, just one of my today daytrades: Nice entry point on bearish flag ------------------------Trade setup --------------------------- Entry: 48.07 Stop Loss: 48.22 Profit target: 47.60 Time stop: Exit at market close ------------------------------------------------------------------
NYMEX:CL1!Short
by Tomasgei
3
Crude oil drop by 4% soon! If you like the idea, do not forget to support with a 👍 like and follow. Leave a comment that is helpful or encouraging. Let's master the markets together. Hi fellows, just one of my today swingrades: Crude oil forming head and shoulders pattern inside supply zone. Drop is very likely very near. ------------------------Trade setup --------------------------- Entry: 48.18 Stop Loss: 48.67 Profit target: 46.41 Time stop: 5 days ------------------------------------------------------------------
NYMEX:CL1!Short
by Tomasgei
1