{"id":169750,"date":"2023-02-05T01:30:00","date_gmt":"2023-02-05T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=169750"},"modified":"2023-02-05T08:17:16","modified_gmt":"2023-02-05T16:17:16","slug":"crude-oil-bear-breakout","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/crude-oil-bear-breakout\/","title":{"rendered":"Crude Oil Bear Breakout"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: Crude Oil Futures<\/h2>\n\n\n\n<p><strong>Crude oil<\/strong> bear breakout below the inside bar on weekly chart. The odds slightly favor Crude Oil to trade at least a little lower, possibly testing near the 11-week trading range low. Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction from the trading range. For now, if there is a breakout, odds slightly favor a breakout below.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Crude oil futures<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Monthly<\/em> crude oil chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/Crude-Oil-Monthly-Jan-Bear-inside-Doji-Bar-\u2013-BO-Mode.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/Crude-Oil-Monthly-Jan-Bear-inside-Doji-Bar-\u2013-BO-Mode-680x383.png\" alt=\"Crude Oil Bear Breakout on Monthly: Jan Bear inside Doji Bar \u2013 BO Mode\" class=\"wp-image-169925\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/Crude-Oil-Monthly-Jan-Bear-inside-Doji-Bar-\u2013-BO-Mode-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/Crude-Oil-Monthly-Jan-Bear-inside-Doji-Bar-\u2013-BO-Mode-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/Crude-Oil-Monthly-Jan-Bear-inside-Doji-Bar-\u2013-BO-Mode-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/Crude-Oil-Monthly-Jan-Bear-inside-Doji-Bar-\u2013-BO-Mode-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/Crude-Oil-Monthly-Jan-Bear-inside-Doji-Bar-\u2013-BO-Mode.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The January monthly Crude Oil candlestick was a bear inside doji bar closing in the upper half of the range with a long tail below.<\/li>\n\n\n\n<li>Last month, we said that since the bears were not able to create follow-through selling in December, odds slightly favor crude oil to trade at least a little higher.<\/li>\n\n\n\n<li>January traded sideways around the 20-month exponential moving average.<\/li>\n\n\n\n<li>The bears got a strong reversal down in June 2022 followed by a sideways trading range around the 20-month moving average.<\/li>\n\n\n\n<li>They want a breakout below the 5-month trading range, completing the wedge pattern with the first 2 legs being September 26 and December 9.<\/li>\n\n\n\n<li>The move down since June is in a tight channel, which means the bears are stronger. The bears currently have a 3-bar bear micro channel.<\/li>\n\n\n\n<li>The last 3 candlesticks had prominent tails below. The bears will need to create consecutive bear bars closing near their lows to increase the odds of lower prices.<\/li>\n\n\n\n<li>The bulls want a reversal higher from a lower low major trend reversal (Dec).<\/li>\n\n\n\n<li>They see the move down since June simply as a deep pullback following the buy climax and want a retest of the June high.<\/li>\n\n\n\n<li>However, they have not yet been able to create credible buying pressure.&nbsp;&nbsp;<\/li>\n\n\n\n<li>Since January was a bear inside doji bar, Crude Oil is in breakout mode. The bulls want a breakout above its high while the bears want a breakout below it.<\/li>\n\n\n\n<li>The first breakout from an inside bar can fail 50% of the time.<\/li>\n\n\n\n<li>Sometimes, the bar after an inside bar is another inside bar, forming an ii (inside inside), which is also a breakout mode pattern.<\/li>\n\n\n\n<li>For now, because of the tight channel down and the lack of buying pressure, odds slightly favor Crude Oil to trade at least a little lower.<\/li>\n\n\n\n<li>Traders will see if the bears can create a strong breakout below January and December low, or if the Crude Oil trades slightly lower, but reverses back into the 5-month trading range.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Weekly<\/em> crude oil chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/Crude-Oil-Weekly-Start-of-Bear-Leg-Retest-TR-Low.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/Crude-Oil-Weekly-Start-of-Bear-Leg-Retest-TR-Low-680x383.png\" alt=\"Crude Oil Weekly: Start of Bear Leg, Retest TR Low bear breakout\" class=\"wp-image-169928\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/Crude-Oil-Weekly-Start-of-Bear-Leg-Retest-TR-Low-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/Crude-Oil-Weekly-Start-of-Bear-Leg-Retest-TR-Low-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/Crude-Oil-Weekly-Start-of-Bear-Leg-Retest-TR-Low-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/Crude-Oil-Weekly-Start-of-Bear-Leg-Retest-TR-Low-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/Crude-Oil-Weekly-Start-of-Bear-Leg-Retest-TR-Low.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>This week\u2019s candlestick on the&nbsp;<a href=\"https:\/\/www.investing.com\/commodities\/crude-oil-streaming-chart\" target=\"_blank\" rel=\"noreferrer noopener\">weekly Crude Oil chart<\/a>&nbsp;was a big bear bar closing near its low.<\/li>\n\n\n\n<li>Last week, we said that the odds slightly favor a breakout below the bear inside bar. If the bears create a consecutive bear bar, it could be the start of the bear leg to test the bottom of the 10-week trading range.<\/li>\n\n\n\n<li>The bears manage to get a strong breakout below the inside bar.<\/li>\n\n\n\n<li>Previously, the bears got a reversal lower from a double top bear flag (October 10 and November 7) breaking below the September low. However, they failed to get follow-through selling.<\/li>\n\n\n\n<li>The bears want another leg down breaking below the December low, and completing the wedge pattern (the first two legs being Sept 26 and Dec 9).<\/li>\n\n\n\n<li>This week, they got a reversal down from a double-top bear flag (Dec 1 and Jan 18).&nbsp;<\/li>\n\n\n\n<li>The bottom of the 11-week trading range is close enough and may be tested in the next couple of weeks.<\/li>\n\n\n\n<li>The bulls want a failed breakout below the September low and the bull trend line.&nbsp;<\/li>\n\n\n\n<li>They got another leg higher to retest the December high from a higher low major trend reversal (Jan 5).<\/li>\n\n\n\n<li>However, the bulls were not able to break above the 11-week trading range high, the 20-week exponential moving average and the bear trend line.&nbsp;<\/li>\n\n\n\n<li>The bulls hope that this week was simply a deep pullback and wants a reversal higher from a double bottom bull flag (Jan 5 and Feb 3).<\/li>\n\n\n\n<li>Since this week was a big bear bar closing near its low, it is a good sell signal bar for next week. It is a weak buy signal bar.<\/li>\n\n\n\n<li>The odds slightly favor Crude Oil to trade at least a little lower, possibly testing near the 11-week trading range low.<\/li>\n\n\n\n<li>The last 11 candlesticks are overlapping sideways. That means Crude Oil is in a small trading range.&nbsp;<\/li>\n\n\n\n<li>Poor follow-through and reversals are more likely within a trading range. Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction.<\/li>\n\n\n\n<li>For now, if there is a breakout, odds slightly favor a breakout below.<\/li>\n\n\n\n<li>Crude Oil could be forming a trending trading range. This remains true.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n\n\n\n<h3 class=\"wp-block-heading\">Market analysis reports archive<\/h3>\n\n\n\n<p>You can access all weekend reports on the <a rel=\"noreferrer noopener\" class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/analysis\/\" target=\"_blank\">Market Analysis<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: Crude Oil Futures Crude oil bear breakout below the inside bar on weekly chart. The odds slightly favor Crude Oil to trade at least a little lower, possibly testing near the 11-week trading range low. Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction from the trading [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":169925,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"shadow","_genesis_layout":"","footnotes":""},"categories":[1892,136],"tags":[1861,325],"class_list":{"0":"post-169750","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crude-oil","8":"category-analysis","9":"tag-bear-breakout","10":"tag-crude-oil-futures","11":"entry","12":"override","13":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/02\/Crude-Oil-Monthly-Jan-Bear-inside-Doji-Bar-\u2013-BO-Mode.png","author_info":{"display_name":"Andrew","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/andrewa\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/169750","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/users\/2836"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=169750"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/169750\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/169925"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=169750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=169750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=169750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}