Crude Oil - Centerline reached and potential turnNow, CL has reached the Centerline.
From here we either turn, or break the L-MLH, with further decline ahead.
No rush, let the market give us facts.
Cllong
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 empty.
Why? Price arrived at a decision point, a confluence point. This confluence point is where the Warning-Line and Price intersect.
To me, a Long Trade is more likely than a Short.
- world wide tensions
- so many bounces at the Support-Zone, they won't let price go down much
- price has not re-tested the L-MLH of the Yellow Pitchfork
As this is a very long term play, it's obvious that this Chart/Idea would serve to build a position, rather than using it as a simple trade.
CL - Crude Oil Bold CallOh my..I think something big is on the way.
Let's first look at what we see on the chart:
It's a long-term chart, where each candlestick represents 3 months. Why did I take 3 months? Because I wanted to see the big picture.
Look at the red frame.
This is a daily chart, and with all the candles going up and down like a rollercoaster, it's messy and will keep you up all night.
The yellow chart is the same, but here I have only taken the swings and hidden the bars. And that's real peace of mind. It's clean and shows you where the real pivots are.
Let's go to the main chart.
The pitchfork goes back to the low we had in the 80s. This is the anchor for the A point. Then the top for B and the negative for C.
Do you see how the middle line catches the resistance and the support? What else? It's clean too. Going up in the time frame hides the noise.
From now on, the last 3 candles also have support at the centre line. And if I apply Human-AI-Pattern-Recognition (...what a word ;-), then I see a potential huge run-up towards the U-MLH (Upper-Medianline-Parallel).
Another fact that supports this thesis is that the USD has the potential to fall (see DXY analysis). And of course there will be other economic influences that will throw "oil" into the fire... kinda weird §8-)
However, as we can never have the whole cake and eat it too quickly without the cook cutting off our fingers, we have to wait for the first break of the last swing high, which can be clearly seen in the yellow frame.
Or we can start building a position now, taking on more risk but being rewarded with huge upside potential over the next few years.
However, my position with this analysis will be very long term. How will I play it? I don't know yet, but I'm considering building a CL monster with Black Magic Options Voodoo §8-)
Hope this helps and have a relaxing weekend.
Buy CL(Crude Oil) in Short TermTechnical Analysis:
- As you can see in the chart, the medium term correction is finished in the wave II in red. Now we expect that CL(Crude Oil) goes up at least in 3 waves to around $105
- H1 & H4 Right Side are Up
- CL seems strong in short term
Technical Information:
- We like to buy CL in wave (2) in blue around $77 as hedging
cl1! long nowThis market is witnessing an unusual movement and the possibility of a rise is very high
My advice is to buy
LIGHT CRUDE OIL FUTURES longNYMEX:CL1!
This market is witnessing an unusual movement and the possibility of a rise is very high
My advice is to buy
LIGHT CRUDE OIL FUTURES longThis market is witnessing an unusual movement and the possibility of a rise is very high
My advice is to buy
CL - Crude Oil At Bounce PointCL reached the extremes short term.
From here I expect a bounce up, with a potential to the yellow CL (Center Line).
The idea is supported by the Stochastic, where the faster is overbought and the longterm is sloping up.
Risking small, aiming big, that's what I do in CL.
In contrarian I take profits quickly if it's not playing out like I want.
CL1! Time To buyafter the confirmation of a breakout of a strong resistance we can take the buy position
CL LongPossible Crude Oil Long Setup.
Loading to hit new high of the year. Liquidity taking at ~77,80 and then building a new high.
Simple Analysis (CRUDE OIL future - sep 2020)The market is to be watched over the coming days to exit the range, it will either go up or down. Follow and share
CL (Crude Oil Futures) Long Setup - 1.4 Risk to RewardHere's a momentum trade for CL (Crude Oil Futures). Even it's a bit late, i am dividing my risk and planning to enter one more contract on a pullback.
My profit target is $62 and current risk reward is 1:1.4
Disclaimer: This is not financial or investment advice
Trade safe,
Atilla Yurtseven
CL - Price is stretched. High potential for a reversalPrice is at the Warning Line (WL) and stretched out.
If price really can manage to turn from here, the target would be at least the L-MLH (Lower-Medianline-Parallel).
P!
CL 8h potential for an upside bounceAfter the hard fall down, price is now coming back to balance.
The yellow Centerline will be tested. From here a natural turn is highly possible.
Additionally there is also a Pivot-Support that helps the CL holding up price.
P!
CL GO UP!
This week, oil failed to overcome resistance at a price of 66.55 (January). The EMA 50 was pierced, followed by a rebound from the EMA 200. The nearest resistance is 65.51, in case of not overcoming this level, the pattern is possible: a double top with a signal for a short position. Nearest support 64.66.
In the near future, more likely to retest the resistance level of 65.51, which is confirmed by EMA 20 and EMA 50.
Our trading robot is also aimed at a long position
I do not recommend entering into a deal or making conclusions on Monday, at the beginning of the week there is a set of positions of large companies.
All good trades
long CL at lower parallelCl is at its extreme within this upsloping median set and has made a higher low after reaching the pendulum median line. This offers a very nice long opportunity with a relatively cheap stop.
Target 1: Coil (red box)
Target 2: Expansion topside as projected by expansion downside from the coil.
Target 3: Upper MLH
CL - Crude ready for a bounce to the north.Centerline is reached the second time.
Chances are, price will shoot up to the U-MLH.
How fast, no one can say, but since Action/Reaction is my philosophy, I count on momo.
P!
