Market Overview: Crude Oil Futures Crude Oil breakout from the trading range this week and the bears need follow-through selling. They want a measured move based on the height of the recent trading range, which will take the market to the $55 area. The bulls need to create strong bull bars trading above the 20-week […]

Market Overview: Crude Oil Futures There was no weekly follow-through selling in Crude oil futures and the market reversed above the 20-week EMA. The bulls must create strong follow-through buying above the 20-week EMA and the bear trend line to show they are back in control. The bears view the current move as a pullback, […]

Market Overview: Crude Oil Futures The market formed a large Crude oil wedge bear flag on the weekly chart. The bears must create strong follow-through selling, trading far below the 20-week EMA and the August 13 low to increase the odds of testing the trading range low. The bulls want a reversal from a large […]

Market Overview: Crude Oil Futures The weekly Crude oil bears need follow-through selling below the August 13 low. They see this week as a pullback and want the 20-week EMA and the bear trend line to act as resistance. The bulls hope the 20-week EMA or the August 13 low area will act as support. […]

Market Overview: Crude Oil Futures The market is forming a weekly Crude oil large double top bear flag (Jul 30 and Sep 2). The bears must create strong follow-through selling far below the 20-week EMA and the August 13 low to increase the odds of testing the trading range low. The bulls hope the 20-week […]

Market Overview: Crude Oil Futures On the monthly chart, Crude Oil trading in the middle of trading range in an area of balance and a magnet. If the conflict in the Middle East flares up in the weeks ahead, that will cause the market to be volatile. Crude oil futures The Monthly crude oil chart […]

Market Overview: Crude Oil Futures The Crude oil bulls need follow-through bull bars trading above the 20-week EMA to increase the odds of testing the trading range high. If the market trades higher, the bears want it to form a lower high (vs Jul 30) and a larger double top bear flag. Crude oil futures […]

Market Overview: Crude Oil Futures The market formed a weekly Crude oil second leg down to retest the June 24 low. The bears must create strong follow-through selling trading below the June 24 low to increase the odds of the bear leg testing the trading range low. The bulls want the 20-week EMA and the […]

Market Overview: Crude Oil Futures The market formed a weekly Crude Oil second leg sideways to down testing the June 24 low. The bulls want the 20-week EMA and the June 24 low area to act as support. The bears must create strong follow-through selling trading below the 20-week EMA and the June 24 low […]

Market Overview: Crude Oil Futures The market formed a monthly Crude oil bull leg. The bulls want a retest of the bull leg extreme high (Jun 23), even if it only forms a lower high. The bears need to create strong bear bars closing below the 20-month EMA to show they are back in control. […]