Market Overview: Crude Oil Futures Traders see Crude Oil Overlapping Candlesticks on the weekly chart which means the market is forming a tight trading range. The bulls will need to create sustained follow-through buying above the 20-day EMA and the bear trend line to increase the odds of the bull leg beginning. If the market […]
Crude Oil Trading Range
Market Overview: Crude Oil Futures The monthly chart is forming a Crude Oil trading range. The bulls want a reversal from a higher low major trend reversal and a double bottom bull flag (May 4 and Dec 13). The bears see January simply as a pullback and want a second leg sideways to down. They […]
Crude Oil Strong Bull Bar
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 […]
Crude Oil Sideways Trading Range
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 […]
Crude Oil Sideways Pullback
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 […]
Crude Oil Sideways to Up
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 […]
Crude Oil Retest Dec Low
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 […]
Crude Oil Minor PB
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 […]
Crude Oil Wedge in a Trading Range
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 […]
Crude Oil Wedge but Strong Bears
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 […]