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CL

cl, oil, trading for Oct 18thNow we had a very interesting move in the last 24 hours and give us more to play with. Today the red zone is now very small and will give a more clear trade opportunity so will watch close. That said being Friday the move after this pop can be consolidating. I can see a pull back all the way to 53.75 before the up move takes off again and below that area will not lean long but think more like expanded range. And any move above 55 is to be looked upon as nice and bullish, but will wait for retests to get long.
FX:USOIL
by alleytrader
4HS and Daily Analysis on US OIL by ThinkingAntsOkUse this as a guide to develop your own setup Main items we can see on the 4HS chart: a)Currently, the price is on a corrective structure (Flag Pattern) b)Flag Patterns are considered continuation structures c)The Only level that remains as a solid Support zone is the current one d)We will be waiting for a breakout of the structure, and then a small correction below the Flag Pattern e)If that happens we will trade the breakout of the small correction (Green and red arrows) f)If this scenario goes as expected, we have a really interesting Downside potential. Daily Analysis:
TVC:USOILShort
by ThinkingAntsOk
Daily and Weekly Analysis on US OIL by ThinkingAntsOkUse this as a guide to develop your own setup: Main items we can see on the Daily Chart: a)The price made a fake on the Beairhs trendline and then re-enter the zone again b)Currently, we can see a Corrective Structure c)The Corrective Structure is on a major Support zone, the last level the price has before going to the next support zone at 43.00 d)We will be waiting for the breakout of the Structure on a lower timeframe, such as 1H, and we will look for a small correction below the current structure. e)If the situation explained in the previous item happens, we will trade the breakout. Weekly Vision:
TVC:USOILShort
by ThinkingAntsOk
Oil's buying Opportunity - A return back to 60s Levels?Fundamental Analysis: It’s been nearly three years since the world’s top oil exporter and OPEC’s de facto leader Saudi Arabia forged an alliance with Russia to start managing oil supply with the hope of rebalancing the market and ensuring, in their words, market stability, in other words—higher oil prices. While they have managed to put a floor under oil prices, the allies in the OPEC+ deal have failed to materially move prices higher. With fears of demand faltering, the leaders of the pact—Saudi Arabia and Russia—face a tough test ahead. On top of these questions, the leaders of the OPEC+ coalition are now facing another force on the oil market—increased unpredictability in geopolitics, as the attacks on vital Saudi oil infrastructure that knocked 5 percent of global oil supply offline for a few weeks showed. Technical Analysis: The WTI Crude Oil market initially fell during the trading session on Thursday, before bouncing significantly to form a hammer later in the day. All things been equal though, the $50 level underneath will probably be attempted but a short-term bounce may happen between now and then. If we were to break down below the $50 level, that would be an extraordinarily negative sign. The RSI has now reached the bullish pressure line, increasing the odds of a reversal. A push upside will lead oil to the institutional levels at 60$ per barrel. Holdings: Bought Oil @52.60, USOU @16.91 and UWT @9.27.
OANDA:WTICOUSDLong
by Theperfectionist
19