Market Overview: Crude Oil Futures The market formed a Crude Oil follow-through buying on the monthly chart testing the 9-month trading range high. The bulls want a breakout above and a measured move-up. The bears want a failed breakout above the trading range and the beginning of the bear leg. Crude oil futures The Monthly […]

Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil weak follow-through bear bar. The bulls want a retest and breakout above the August 10 high. The bears want the start of the bear leg to retest the 40-week trading range low. The market is in a 40-week trading range. Traders will BLSH […]

Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil first pullback below the 7-bar bull microchannel. The bears need to create follow-through selling to increase the odds of the bear leg beginning. The bulls want a retest of the August 10 high followed by a breakout and a measured move up. Crude […]

Market Overview: Crude Oil Futures The market formed a Crude Oil 7-bar bull microchannel on the weekly chart. That means strong bulls and increases the odds that the first pullback will be minor. The bears want the market to stall around the 38-week trading range high and for the bear leg to begin. Crude oil […]

Market Overview: Crude Oil Futures The market formed a 6-bar Crude Oil Bull Microchannel on the weekly chart. It is a strong bull leg which increases the odds of buyers below the first pullback. The bulls want a breakout above the trading range high (April high). The bears want the market to stall around the […]

Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil strong bull leg in the form of a 5-bar bull microchannel. The bulls want a retest and breakout above the trading range high (April high). The bears want the market to stall around the trading range high area and reverse lower. Crude oil […]

Market Overview: Crude Oil Futures The weekly chart formed a crude oil follow-through bull bar following last week’s close above the 20-week exponential moving average and the bear trend line. The bulls want a retest of the April high. The bears hope that the market will stall around the middle of the 35-week trading range and […]

Market Overview: Crude Oil Futures The weekly candlestick was a Crude oil weak close above the 20-week EMA (exponential moving average) and the bear trend line. The bulls need to create follow-through buying next week to increase the odds of reaching the April high. The bears want a reversal down from a double top bear flag […]

Market Overview: Crude Oil Futures The Crude oil futures formed a follow-through bull bar on the weekly chart. The bulls hope that this is the start of the bull leg to retest the April high. The bears want the 20-week exponential moving average and the bear trend line to act as resistance. They want the […]

Market Overview: Crude Oil Futures The Crude oil futures monthly candlestick was a bull inside bar with a long tail above. The bulls want a breakout above while the bears want a breakout below June’s range. The first breakout from an inside bar can fail 50% of the time. Reversals and poor follow-through are common […]