Market Overview: Crude Oil Futures The overlapping candlesticks in Crude Oil, poor follow-through and frequent reversals are hallmarks of trading range price action. The bears hope to get a second leg sideways to down to retest the September low followed by a breakout below the triangle. The bulls want a reversal from a double bottom […]

Market Overview: Crude Oil Futures There was no weekly Crude Oil follow-through selling, closing as an inside bull bar near its high. The bulls want a reversal from a double bottom bull flag (Oct 1 and Oct 18). They must create consecutive bull bars closing near their highs to increase the odds of a retest […]

Market Overview: Crude Oil Futures The market formed a weekly Crude Oil big bear bar closing below the 20-week EMA. The bears must create a follow-through bear bar (following this week’s close below the 20-week EMA) to increase the odds of retesting the September 10 low. The bulls see this week as a deep pullback […]

Market Overview: Crude Oil Futures The market formed a weekly Crude Oil follow-through bull bar closing above the 20-week EMA. The bulls must create consecutive bull bars closing near their highs to increase the odds of a breakout above the triangle top. The bears see the recent move as a two-legged pullback (Sep 24 and […]

Market Overview: Crude Oil Futures The market formed a weekly Crude Oil big outside bull bar closing above the 20-week EMA. The bulls want a retest of the triangle high and a strong breakout above. They must create consecutive bull bars closing near their highs to increase the odds of a breakout above the triangle […]

Market Overview: Crude Oil Futures Crude Oil bears need follow-through selling on the weekly chart. They see the recent move as a pullback and want a reversal from another lower high followed by another leg down completing the wedge pattern (with the first two legs being Aug 5 and Sep 10). The bulls hope to […]

Market Overview: Crude Oil Futures The market formed a weekly Crude Oil bull entry bar on the weekly chart. The bulls need to create a follow-through bull bar to increase the odds of testing the middle of the trading range. The bears want a reversal from a double top bear flag (with the first leg […]

Market Overview: Crude Oil Futures Crude Oil test the trading range low but reversed into a bull doji on the weekly chart. The bulls want a failed breakout below the triangle and the market to reverse to the middle of the trading range. If the market trades higher, the bears want a reversal from another […]

Market Overview: Crude Oil Futures The market formed a weekly Crude Oil breakout below the triangle pattern. The next target for the bears is the December low. They need to create a follow-through bear bar to confirm the breakout. The bulls want a reversal from a double bottom bull flag (Jun 4 and Sept 6) […]

Market Overview: Crude Oil Futures The market formed a monthly Crude Oil double top bear flag trading around the middle of the trading range. The bears want the market to close far below the 20-month EMA and a breakout below the triangle pattern. The bulls want a reversal from a double bottom bull flag (Jun […]