OilUS Oil - Crude Oil
Symmetrical Triangle in Long Time Frame
Break of Structure
Demand Zone
Falling Wedge as an Corrective Pattern in Short Time Frame
Change of Characteristics
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CRUDEOIL MASSIVE BREAKOUT Chart Analysis
The chart shows a falling wedge pattern, a classic bullish reversal setup. The price has successfully broken out of the wedge pattern and is now testing the breakout zone near 5960, indicating potential further upside.
Additionally:
The 55 EMA is acting as dynamic support and is c
Sells on CrudeI have a Head Shoulders pattern inside of a range on the higher time frame
Confluences:
Head and Shoulders
Bearish Engulfing Pattern
Downtrend on the 4H
Ranging at the Weekly
CL_LONG_+991 TicksThe CL daily time frame has created an up
channel. The market has hit the bottom of the
channel and is showing signs of pushing bullish
towards the top of the channel. The market
has created an up Fibonacci with an extension
price point 78.92 about +991 ticks above the
market. The market has broke
WTI breakout coming ? WTI has had a relatively range-bound year. Thinking back to what I said at the beginning of the year, that was what I predicted. I have drawn the vertical lines to show this year's range, and for me, this indicates a sell-the-rally mode that traders have adopted. You can see the triangle that has be
Crude Oil Eating Up Time - Plate almost emptyPrice bounced many times at the Green Support-Zone. It's the same level where the Huge Pendulums Fork Center-Line is (white-dashed).
Next, we have the Yellow Fork.
Price traded outside the L-MLH, bounced a couple times at the Support-Zone and eat up time.
But now, I think the "Plate" is almost emp
Sells on CrudeHigher timeframes break of structure. Price respecting Key level (Price turned support into resistance). B+ trade because the price is in an overall ranging market at the D, W, and M timeframes.
CL1! shorts Idea Marketing is respecting a daily Gap that should push price lower. On the 1 hour it created a displacement to the lower side, would like to see that displacement respected and pushes prices lower.
CRUDE OILPreferably suitable for scalping and accurate as long as you watch carefully the price action with the drawn areas.
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Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
Open interest is the number of contracts held by traders in active positions — they're not closed or expired. For Crude Oil Futures this number is 9.16 K. You can use it to track a prevailing market trend and adjust your own strategy: declining open interest for Crude Oil Futures shows that traders are closing their positions, which means a weakening trend.
Buying or selling futures contracts depends on many factors: season, underlying commodity, your own trading strategy. So mostly it's up to you, but if you look for some certain calculations to take into account, you can study technical analysis for Crude Oil Futures. Today its technical rating is buy, but remember that market conditions change all the time, so it's always crucial to do your own research. See more of Crude Oil Futures technicals for a more comprehensive analysis.