Market Overview: Crude Oil Futures The Crude oil futures is in a 12-week trading range on the weekly chart. Poor follow-through and reversals are more likely within a trading range. Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction. Markets have inertia and tend to continue to do what […]
Crude Oil Bear Breakout
Market Overview: Crude Oil Futures Crude oil bear breakout below the inside bar on weekly chart. The odds slightly favor Crude Oil to trade at least a little lower, possibly testing near the 11-week trading range low. Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction from the trading […]
Crude Oil Bear Inside Bar
Market Overview: Crude Oil Futures The Crude oil futures weekly candlestick was a Crude Oil bear inside bar sitting under the 10-week trading range high, 20-week exponential moving average and the bear trend line. Bulls need to break far above these resistances to increase the odds of higher prices. The bears want a retest and breakout below […]
Crude Oil 9-Week Trading Range
Market Overview: Crude Oil Futures The Crude oil futures market is in a 9-week trading range. This week was a breakout above the inside bull bar, but Crude Oil is sitting just under the 9-week trading range high, 20-week exponential moving average and bear trend line. The bulls will need to break far above these […]
Crude Oil No Follow-through Selling
Market Overview: Crude Oil Futures There was no follow-through selling in the Crude oil futures market. The weekly candlestick was an inside bar closing near its high. Odds slightly favor a breakout above the inside bar. Traders will see if the bulls can create follow-through buying and a breakout above the 8-week trading range. Crude […]
Crude Oil Third Leg Down?
Market Overview: Crude Oil Futures The Crude oil futures traded lower and traders are wondering if it is forming a third leg down with the first two legs being Sept 26 and Dec 9. The bulls want a reversal higher from a double bottom with the December low. Crude Oil could be forming a trending trading range […]
Crude Oil Failed Breakout below September Low?
Market Overview: Crude Oil Futures The Crude oil futures was a failed breakout below September low. December traded far below Sept low and the bull trend line but reversed to close above it. The bears failed to get a follow-thorough bear bar. Bulls want a reversal higher from a lower low major trend reversal. Crude oil futures […]
Crude Oil Inside Bull Bar, No Follow-through Selling
Market Overview: Crude Oil Futures The Crude oil futures was a Crude Oil inside bull bar on the weekly chart. The bears did not get follow-through selling this week. They hope the inside bull doji is a pullback and want another leg lower. The bulls want a breakout above the inside bull doji. They want a failed […]
Crude Oil Breakout below Trading Range and Bull Trend Line
Market Overview: Crude Oil Futures Crude oil futures weekly candlestick was a breakout below trading range and the bull trend line closing near its low. The bears want a measured move down using the height of the September to November trading range which will take them to around $56. The bulls want a failed breakout below […]
Crude Oil Outside Bear Bar, Lower Low Major Trend Reversal on Monthly
Market Overview: Crude Oil Futures The Crude Oil futures November candlestick was a Crude Oil outside bear bar with tails above and below. Bulls want a reversal higher from a lower low major trend reversal. The bears want a strong breakout below the 20-month exponential moving average and the major bull trend line with follow-through selling. Crude […]
