Market Overview: Crude Oil Futures The market formed a weekly Crude Oil higher low this week. The bulls want a reversal from a higher low major trend reversal (May 5) and a wedge pattern (Mar 5, Apr 9, and Mar 5). If the market trades higher, the bears want it to form a double top […]
Monthly Crude Oil Testing the Trading Range Low
Market Overview: Crude Oil Futures The market formed a monthly Crude Oil testing the trading range low. The bears need to create a strong breakout below the December and May lows with follow-through selling to increase the odds of a measured move down. The bulls hope the trading range low area will act as support. […]
Crude Oil Bulls Need More Follow-through Buying
Market Overview: Crude Oil Futures The Crude Oil bulls need more follow-through buying to increase the odds of the bull leg trading higher. The bears want a lower high and a double top bear flag with the April 2 high. They want the 20-week EMA or the bear trend line to act as resistance. Crude […]
Crude Oil Bull Entry Bar
Market Overview: Crude Oil Futures The market formed a Crude Oil bull entry bar on the weekly chart. They need to create a strong follow-through bull bar to increase the odds of the bull leg trading higher. The bears want the market to form a lower high or a double top bear flag with the […]
Crude Oil Bulls Need Strong Follow-through Buying
Market Overview: Crude Oil Futures The Crude Oil bulls need strong follow-through buying to increase the odds of the bull leg starting. The bears see the current move as a pullback. They want the market to form a lower high or a double top bear flag with the April 2 high. Crude oil futures The […]
Crude Oil 2-Legged Bear Leg
Market Overview: Crude Oil Futures The market formed a Crude Oil 2-legged bear leg on the monthly chart. The bears want a breakout below the trading range followed by a measured move based on the height of the trading range. The bulls hope the September or December low will act as support. Crude oil futures […]
Crude Oil Pullback to the Middle of Trading Range
Market Overview: Crude Oil Futures Crude Oil pullback to the middle of trading range on the weekly chart. The bulls need to create more follow-through buying trading far above the 20-week EMA to increase the odds of the bull leg beginning. The bears hope to get a retest of the March 5 low after the […]
Crude Oil Bulls Need Follow-through Buying
Market Overview: Crude Oil Futures The Crude Oil bulls need follow-through buying trading back above the 20-week EMA. They want the bull leg within the trading range to begin. The bears want the bear trend line or the 20-week EMA to act as resistance. Crude oil futures The Weekly crude oil chart The Daily crude […]
Weaker Crude Oil Bear Leg
Market Overview: Crude Oil Futures The market formed a weaker Crude Oil bear leg testing the November low area. The bears hope to get a retest of the November 18 low followed by a breakout to test the trading range low. The bulls hope the November low area or the lower third of the trading […]
Crude Oil Large Second Leg Sideways to Down
Market Overview: Crude Oil Futures The market formed a Crude Oil large second leg sideways to down on the weekly chart. The bears must continue to create follow-through selling to increase the odds of breaking below the November 18 low. The bulls hope the lower third of the trading range will be an area of […]
