Market Overview: Crude Oil Futures The Crude oil futures bulls got follow-through buying this week following last week’s close above the 20-week exponential moving average. The bulls want a strong breakout above the 16-week trading range. The bears want the market to stall around the trading range high. If there is a breakout above, the […]
Crude Oil Gap Up Bull Doji
Market Overview: Crude Oil Futures Crude oil gap up above the 20-week exponential moving average on the weekly chart and formed a bull doji. The bulls need to create a strong breakout above the trading range high with follow-through buying to increase the odds of a reversal up. The bears want the market to stall […]
Crude Oil Failed Breakout
Market Overview: Crude Oil Futures The Crude oil futures looks like a Crude Oil failed breakout after trading far below the triangle and 16-week trading range but reversed higher into the trading range. The bears hope that the market will continue to trade sideways to down in April. The 4 consecutive doji(s) with prominent tails […]
Crude Oil Failed Bear Breakout
Market Overview: Crude Oil Futures The Crude oil futures traded slightly lower but had no follow-through selling on the weekly chart, a Crude Oil failed bear breakout. The bears hope that the move is simply a breakout test of the 16-week trading range low (breakout point) and wants at least a small second leg sideways […]
Crude Oil Strong Breakout
Market Overview: Crude Oil Futures Crude oil strong breakout below the 16-week trading range. They want a measured move down to around 57 using the height of the 16-week trading range. The bulls want a failed breakout and a reversal back into the middle of the trading range from a lower low major trend reversal […]
Crude Oil Low 4 Sell Signal Triggered
Market Overview: Crude Oil Futures The Crude oil futures triggered the Low 4 sell signal on the weekly chart by trading below last week’s low. The bears will need to create follow-through selling to increase the odds of a retest and breakout below the 16-week trading range. The bulls need to break far above the […]
Crude Oil Wedge Bull Flag but Trading Range
Market Overview: Crude Oil Futures The Crude oil futures weekly chart formed a Crude Oil wedge bull flag in a trading range. The weekly candlestick was a bull bar closing near the high. The bulls want a retest followed by a breakout above the 15-week trading range high. The bears got a reversal down from a wedge […]
Crude Oil Weak Follow-through Selling
Market Overview: Crude Oil Futures The Crude oil futures bears got a weak follow-through selling on the weekly chart. They hope that this week was simply a pullback and want another leg down breaking below Jan/Feb lows. The bulls want a reversal up from a wedge bull flag and a higher low major trend reversal. […]
Weekend Crude Oil 13-week Trading Range
Market Overview: Crude Oil Futures The Crude oil futures market is in a 13-week trading range. 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. If the bears get follow-through selling next week, it will increase the odds of a […]
Crude Oil 12-Week Trading Range
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 […]
