Market Overview: Crude Oil Futures The market formed a large Crude Oil trading range following the breakout in March. Bulls see April as a pullback and want a second leg sideways to up. Bears want the March 9 high area to act as resistance. If the market trades higher, they want a failed breakout above […]

Market Overview: Crude Oil Futures Crude oil is testing the middle of the trading range this week, an area of balance that often acts as a magnet. Bulls want a retest of the March 9 high, even if it forms a lower high. Bears see the current move as a pullback and want it to […]

Market Overview: Crude Oil Futures The market formed a large weekly Crude oil trading range, currently testing near the 20-week EMA. Bulls hope for buyers near the low of the one-bar trading range (March 10). Bears need to create strong bear bars trading below the 20-week EMA to increase the odds of a successful reversal. […]

Market Overview: Crude Oil Futures Crude oil bears need follow-through bear bars on the weekly chart to increase the odds of a deeper pullback. Bulls see the current move as a pullback and hope it will lack follow-through selling, followed by another retest of the March 9 high. Crude oil futures The Weekly crude oil […]

Market Overview: Crude Oil Futures The market is in a Crude Oil retest of prior high. Bulls want a retest and breakout above the March 9 high, with sustained follow-through buying. If the market trades higher, bears want a failed breakout above the March 9 high, with prominent upper tails or bear bars. Crude oil […]

Market Overview: Crude Oil Futures The Crude oil trading in middle of 1-bar trading range over the last 2 weeks indicates an area of balance. Bulls want at least a small sideways to up leg retesting the March 9 high, even if it forms a lower high. Bears need strong bear bars closing near their […]

Market Overview: Crude Oil Futures The market is trading sideways around the middle of the 1-Bar Crude oil trading range. Bulls hope for at least a small sideways to up leg retesting the March 9 high, even if it forms a lower high. Bears need strong bear bars closing near their lows to show control. […]

Market Overview: Crude Oil Futures The weekly chart formed a big Crude oil doji bar. It represents a big one-bar trading range where both bulls and bears were active. Bulls hope to get at least a small sideways to up leg to retest the leg’s extreme high (March 9), even if it only forms a […]

Market Overview: Crude Oil Futures The market formed a Crude oil big bull spike this week following the Middle East escalation. Bulls want a measured move to the $100 round number based on the height of the prior trading range. Bears want the $100 round number or the 2022 high area to act as resistance. […]

Market Overview: Crude Oil Futures The market formed a monthly Crude oil follow-through bull bar above the 20-month EMA. Bulls need more follow-through buying breaking strongly above the July high and the bear trend line to increase the odds of a strong bull leg. Bears want the July high or the bear trend line to […]