Market Overview: Crude Oil Futures The Crude oil bulls need strong follow-through buying breaking far above the January 29 high to increase the odds of a sustained move. Bears want the September 26 or July 30 highs to act as resistance. Bears need consecutive strong bear bars closing below the 20-week EMA to show they […]
Crude Oil Is in Middle of the Trading Range
Market Overview: Crude Oil Futures Crude oil is in middle of the trading range, an area of balance and a magnet. Bears see a potential large double top bear flag (September 26 and January 29). If the market trades lower, bulls want buyers below the first pullback from the bull microchannel and the 20-week EMA […]
Crude Oil Overlapping Inside Bar
Market Overview: Crude Oil Futures The weekly chart formed a Crude oil overlapping inside bar around the middle of the trading range. Bears want a reversal from a double top bear flag (September 26 and January 29). Bulls see this week as a pullback and want at least a small sideways-to-up leg to retest the […]
Crude Oil Higher Low Major Trend Reversal
Market Overview: Crude Oil Futures The market formed a Crude oil higher low major trend reversal (December 16) relative to the April 9 low. Bulls need additional follow-through buying to increase the odds of a sustained move. Bears want the market to reverse from a double top bear flag (September 26 and January 29). Crude […]
Crude Oil Bulls Need Strong Consecutive Bull Bars
Market Overview: Crude Oil Futures The Crude Oil bulls need strong consecutive bull bars closing near their highs and trading far above the October 24 high to increase the odds of a strong bull leg. Bears want another strong leg down from a large wedge bear flag (July 30, September 26, and January 14) and […]
Crude Oil Major Lower High
Market Overview: Crude Oil Futures The market formed a Crude oil major lower high this week (January 14). Bulls need consecutive strong bull bars closing well above the 20-week EMA and the bear trend line to show they are regaining control. Bears want another strong leg down from a large wedge bear flag (July 30, […]
Crude Oil Outside Bull Bar
Market Overview: Crude Oil Futures The market formed a Crude oil outside bull bar on the weekly chart. Bulls need consecutive strong bull bars closing well above the 20-week EMA and the bear trend line to show they are regaining control. Bears want the 20-week EMA and the bear trend line to act as resistance. […]
Monthly Crude Oil Bear Leg
Market Overview: Crude Oil Futures The market formed a monthly Crude Oil bear leg within the trading range. Bears need sustained follow-through selling breaking below the December low to increase the odds of testing the trading range low. Bulls need consecutive strong bull bars breaking above the 7-bar bear microchannel and the 20-month EMA to […]
Weekly Crude Oil Bears Want a Second Leg Down
Market Overview: Crude Oil Futures The weekly Crude oil bears want a second leg down following this week’s pullback. Bears need consecutive strong bear bars breaking below the December 16 low to increase the odds of another strong leg down. Bulls need consecutive strong bull bars closing well above the 20-week EMA and the bear […]
Crude Oil Large Wedge Bull Flag
Market Overview: Crude Oil Futures The market formed a Crude oil large wedge bull flag within the trading range. Bulls need consecutive strong bull bars closing well above the 20-week EMA and the bear trend line to show they are gaining control. Bears need consecutive strong bear bars breaking below the October 20 low to […]
