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Crudefutures

Gap Fill or Sky rocket? Crude Oil FuturesSo as we know Crude has been pumping passed few months especially last few weeks. Ever since gapping up to 130 about 2 weeks ago we created a head and than A right shoulder and fell down. We do have a gap need to be filled highlighted below. Especially if the rest of the Indices like SP500 and Nasdaq push up Lets see! I had 107p and 105.5 contracts i closed out right around 100. wish i had held. :( Anyways Hoping to go back bullish and go back towards 130 again!
NYMEX:CL1!
by ArmaanOG
final time oil i think my first two ideas were not upto scratch. i think looking back on 4h chart we can inverted head and shoulders with a pullback to the neckline, what is confusing right now though is the 4h pinbar and overbought accumulation on that particular timeframe. I personally believe the daily chart is still pretty bullish after making higher highs. so i love price action trading this would be a really nice set up. the short on the pinbar could also work so im taking a smaller risk position.
TVC:USOILLong
by UnknownUnicorn6102956
Bearish Outlook for Crude Oil - LT Support Turned ResistanceThe recent sell off in crude oil broke below a rising trendline dating back to 1999. Although this line has held up as support numerous times, it was broken in 2015, which lead to a subsequent fall all the way down to $25. After bears made a convincing move back below the tendline in October of last year, bulls rallied back, but were rejected at the newly support turned resistance bottom side of the trendline. There is a second trendline which acted as support in January 2009 and January 2016. This second trendline is valid all the way back to 1990 and is now the bottom of a giant falling wedge. The chances of a pending global economic recession would fundamentally support a big sell off in crude and from a technical standpoint, a move back down to test the bottom of the wedge. Sell into rallies. Bulls don't have a very convincing argument at the moment. Price should remain below $55 / trendline support, with substantial possible downside.
NYMEX:CL1!Short
by cccpKGB1