Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil strong bull bar closing above the 20-week EMA. The bulls need to get a follow-through bull bar to increase the odds of the bull leg beginning. The bears see the current move simply as a two-legged pullback and want the 20-week EMA and […]

Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil sideways trading range with overlapping bars. The bulls will need to create follow-through buying trading above the 20-week EMA to increase the odds of the bull leg beginning. The bears want another leg down to retest the prior leg low (Dec 13) and […]

Market Overview: Crude Oil Futures The weekly chart is forming a Crude Oil sideways pullback below the 20-week EMA and the bear trend line. The bears want another leg down from a double top bear flag. The bulls will need to create follow-through buying trading above the 20-week EMA to increase the odds of higher […]

Market Overview: Crude Oil Futures The market is forming a Crude Oil sideways to up pullback on the weekly chart. The bulls will need to create follow-through buying trading above the 20-week EMA to increase the odds of higher prices. The bears want the 20-week EMA and the bear trend line to act as resistance, forming […]

Market Overview: Crude Oil Futures The weekly chart is forming a Crude Oil retest Dec low following a minor pullback. The bears want another leg down retesting the prior leg low (Dec 13). The bulls want a reversal from a higher low major trend reversal and a wedge bull flag (Oct 6, Nov 16, and […]

Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil minor pb (pullback). The bulls need to continue creating follow-through buying trading above the 20-week EMA and the bear trend line to increase the odds of a reversal. The bears want a retest of the December low and another strong leg down after […]

Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil wedge in a trading range. If the market trades higher, the bears want a larger second leg sideways to down after the pullback. The bulls hope to get a two-legged sideways to up pullback lasting a couple of weeks. They will need to […]

Market Overview: Crude Oil Futures The market formed a Crude Oil wedge on the weekly chart. The bears want a retest of the trading range low and a second leg sideways to down after a larger pullback. The bulls will need to create a couple of strong consecutive bull bars, trading above the 20-week EMA […]

Market Overview: Crude Oil Futures The market formed a Crude Oil double top bear flag on the Monthly chart. The bears need to create a follow-through bear bar following the close below the 20-month EMA in November. The bulls want the 20-month EMA or the bull trend line to act as support and a reversal […]

Market Overview: Crude Oil Futures The bulls want a Crude Oil higher low MTR (Major Trend Reversal) on the weekly chart. They want a larger second leg up lasting many weeks, with the first leg being the move-up from June to September. The bears hope that the bear leg to retest the May low has […]