{"id":222714,"date":"2024-11-10T01:30:00","date_gmt":"2024-11-10T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=222714"},"modified":"2024-11-10T00:57:14","modified_gmt":"2024-11-10T08:57:14","slug":"weak-crude-oil-bull-doji","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/weak-crude-oil-bull-doji\/","title":{"rendered":"Weak Crude Oil Bull Doji"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: Crude Oil Futures<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The market formed a weak Crude Oil bull doji closing below the 20-week EMA. The bulls want a reversal from a double bottom bull flag (Oct 1 and Oct 29). They must create bull bars trading above the 20-week EMA to increase the odds of testing the October 8 high. The bears see the current move (Nov 7) as a pullback and want a retest the October low from a lower high.<\/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>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\/2024\/11\/Crude-Oil-Weekly-Tight-Trading-Range-Weak-Entry-Bar.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/Crude-Oil-Weekly-Tight-Trading-Range-Weak-Entry-Bar-680x383.jpg\" alt=\"Crude Oil Weekly - Tight Trading Range, Weak Entry Bar, Weak Crude Oil Bull Doji\" class=\"wp-image-222890\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/Crude-Oil-Weekly-Tight-Trading-Range-Weak-Entry-Bar-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/Crude-Oil-Weekly-Tight-Trading-Range-Weak-Entry-Bar-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/Crude-Oil-Weekly-Tight-Trading-Range-Weak-Entry-Bar-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/Crude-Oil-Weekly-Tight-Trading-Range-Weak-Entry-Bar-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/Crude-Oil-Weekly-Tight-Trading-Range-Weak-Entry-Bar.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>This\u00a0week\u2019s\u00a0candlestick on the\u00a0<a href=\"https:\/\/www.investing.com\/commodities\/crude-oil-streaming-chart\" target=\"_blank\" rel=\"noreferrer noopener\">weekly Crude Oil chart<\/a> was a bull doji closing in its lower half with a long tail above.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/overlapping-candlesticks-in-crude-oil\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that traders would see if the bulls could create a follow-through bull bar or if the bears could create a retest of the October low instead. The overlapping candlesticks, poor follow-through and frequent reversals are the hallmarks of trading range price action.<\/li>\n\n\n\n<li>The market gapped up and traded sideways to up for most of the week but pulled back lower on Friday to close off the week\u2019s high.<\/li>\n\n\n\n<li>The bulls see the current move as a pullback and want a retest of the October 8 high.<\/li>\n\n\n\n<li>They want a reversal from a double bottom bull flag (Oct 1 and Oct 29).<\/li>\n\n\n\n<li>While this week traded higher, the bulls were not able to create a strong entry bar which indicates that they are not yet as strong as they hoped to be.<\/li>\n\n\n\n<li>They must create bull bars trading above the 20-week EMA to increase the odds of testing the October 8 high.<\/li>\n\n\n\n<li>If the market trades lower, they want the October low or the bottom of the triangle to act as support.<\/li>\n\n\n\n<li>The bears see the current move (Nov 7) as a pullback and want a retest the October low from a lower high.<\/li>\n\n\n\n<li>They want the 20-week EMA to act as resistance. So far this is the case.<\/li>\n\n\n\n<li>They must create strong bear bars with follow-through selling to increase the odds of a breakout below the triangle.<\/li>\n\n\n\n<li>Since this\u00a0week\u2019s\u00a0candlestick is a bull doji closing in its lower half, it is not a strong buy signal bar for next week. It can be a sell signal bar.<\/li>\n\n\n\n<li>However, the overlapping candlesticks indicate the market is in a tight trading range.<\/li>\n\n\n\n<li>Poor follow-through and frequent reversals are the hallmarks of trading range price action.<\/li>\n\n\n\n<li>For now, traders will see if the bears can create a strong entry bar by trading below this week\u2019s low.<\/li>\n\n\n\n<li>Or will the market continue to stall around the current levels and trade sideways to up in the next few weeks instead?<\/li>\n\n\n\n<li>The middle of the trading range is an area of balance.<\/li>\n\n\n\n<li>The lower third of the large trading range can be the buy zone of trading range traders.<\/li>\n\n\n\n<li>The market is in\u00a0a large\u00a0trading range (Trading range high:\u00a0September 29, Trading range low:\u00a0May 4).<\/li>\n\n\n\n<li>Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction with\u00a0sustained follow-through buying\/selling.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Daily<\/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\/2024\/11\/Crude-Oil-Daily-Tight-Trading-Range-DT-BF-or-DB-BF.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/Crude-Oil-Daily-Tight-Trading-Range-DT-BF-or-DB-BF-680x383.jpg\" alt=\"Crude Oil Daily - Tight Trading Range, DT BF or DB BF\" class=\"wp-image-222893\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/Crude-Oil-Daily-Tight-Trading-Range-DT-BF-or-DB-BF-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/Crude-Oil-Daily-Tight-Trading-Range-DT-BF-or-DB-BF-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/Crude-Oil-Daily-Tight-Trading-Range-DT-BF-or-DB-BF-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/Crude-Oil-Daily-Tight-Trading-Range-DT-BF-or-DB-BF-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/Crude-Oil-Daily-Tight-Trading-Range-DT-BF-or-DB-BF.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The market traded sideways to up above the 20-day EMA for most of the week followed by a pullback on Friday closing slightly below the moving average.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/no-weekly-crude-oil-follow-through-selling\/\" target=\"_blank\" rel=\"noreferrer noopener\">Previously<\/a>, we said that the recent candlesticks have a lot of overlapping ranges which indicates tight trading range price action. Poor follow-through and reversals are hallmarks of a trading range.<\/li>\n\n\n\n<li>The bears see this week (Nov 7) as part of a two-legged pullback.<\/li>\n\n\n\n<li>They want a reversal from a double top bear flag (Oct 24 and Nov 7).<\/li>\n\n\n\n<li>They want at least a small second leg sideways to down to retest the recent leg low (Oct 29).<\/li>\n\n\n\n<li>If the market trades higher, they want another lower high and the top of the triangle to act as resistance.<\/li>\n\n\n\n<li>The bulls see the recent move (to Oct 29) as a deep pullback. They want a reversal from a double bottom bull flag (Oct 1 and Oct 29) and a higher low major trend reversal.<\/li>\n\n\n\n<li>They want another leg up to retest the top of the triangle.<\/li>\n\n\n\n<li>The bulls must create consecutive bull bars closing near their highs, trading far above the 20-day EMA to increase the odds of a retest of the October 8 high.<\/li>\n\n\n\n<li>So far, the candlesticks in the last 4 weeks have a lot of overlapping ranges which indicates tight trading range price action.<\/li>\n\n\n\n<li>Poor follow-through and reversals are hallmarks of a trading range.<\/li>\n\n\n\n<li>For now, traders will see if the bears can create another leg down to retest the October 29 low.<\/li>\n\n\n\n<li>Or will the market stall and trade sideways to up in the next few weeks instead?<\/li>\n\n\n\n<li>The lower third of the large trading range can be the buy zone of trading range traders.<\/li>\n\n\n\n<li>The middle of the trading range is an area of balance and a magnet.<\/li>\n\n\n\n<li>Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction with\u00a0sustained follow-through buying\/selling.<\/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 class=\"wp-block-paragraph\">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 The market formed a weak Crude Oil bull doji closing below the 20-week EMA. The bulls want a reversal from a double bottom bull flag (Oct 1 and Oct 29). They must create bull bars trading above the 20-week EMA to increase the odds of testing the October 8 high. [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":222890,"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":[325],"class_list":["post-222714","post","type-post","status-publish","format-standard","has-post-thumbnail","category-crude-oil","category-analysis","tag-crude-oil-futures","entry","override","shadow"],"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/11\/Crude-Oil-Weekly-Tight-Trading-Range-Weak-Entry-Bar.jpg","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\/222714","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=222714"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/222714\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/222890"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=222714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=222714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=222714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}