The Monthly<\/em> crude oil chart<\/h3>\n\n\n\n![\"Crude](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/Crude-Oil-Monthly-Middle-of-TR-Tight-Trading-Range-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- The November monthly Crude Oil candlestick was an inside bear bar closing in its lower half and below the 20-month EMA.<\/li>\n\n\n\n
- Last month<\/a>, we said the market is trading around the middle of the trading range which is an area of balance. The overlapping candlesticks, long tail (Oct), poor follow-through and frequent reversals are hallmarks of trading range price action.<\/li>\n\n\n\n
- The bears saw the move in October as a one-bar pullback and want a reversal from a wedge bear flag (Apr 12, Jul 5, and Oct 8).<\/li>\n\n\n\n
- They hope to get another sideways to down leg to retest the September 9 low followed by a breakout below the triangle.<\/li>\n\n\n\n
- They need to create a strong entry bar in December with follow-through selling to increase the odds of a breakout below the triangle.<\/li>\n\n\n\n
- The bulls\u00a0see the sideways to down move (to Sep 10) as a two-legged pullback.<\/li>\n\n\n\n
- They want a reversal from a double bottom bull flag (Jun 4 and Sep 10) and a larger double bottom bull flag (Dec 13 and Sep 10).<\/li>\n\n\n\n
- They see October\u2019s rally as breaking the minor bear trend line and want a higher low major trend reversal.<\/li>\n\n\n\n
- They want a retest of the triangle top and a strong breakout above.<\/li>\n\n\n\n
- If the market trades lower, the bulls want the September low or the bottom of the triangle to act as support.<\/li>\n\n\n\n
- Since November\u2019s candlestick is a small inside bear bar closing in its lower half, it can be a sell signal bar for December.<\/li>\n\n\n\n
- However, the overlapping candlesticks, poor follow-through and frequent reversals are hallmarks of a tight trading range price action.<\/li>\n\n\n\n
- The market is trading around the middle of the trading range which is an area of balance.<\/li>\n\n\n\n
- For now, traders will see if the bears can create a strong bear entry bar and a breakout below the September 10 low and triangle pattern.<\/li>\n\n\n\n
- Or if the bulls will be able to create a retest of the top of the triangle instead?<\/li>\n\n\n\n
- The market is in a trading range (sideways overlapping candlesticks). Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction with sustained follow-through buying\/selling.<\/li>\n\n\n\n
- The lower third of the large trading range can be the buy zone of trading range traders.<\/li>\n\n\n\n
- The increasingly tight triangle pattern indicates that Crude Oil is in a breakout mode.<\/li>\n<\/ul>\n\n\n\n
The Weekly<\/em> crude oil chart<\/h3>\n\n\n\n![\"Crude](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/Crude-Oil-Weekly-No-FT-Buying-Tight-Trading-Range-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- This\u00a0week\u2019s\u00a0candlestick on the\u00a0weekly Crude Oil chart<\/a> was an inside bear bar closing near its low and below the 20-week EMA.<\/li>\n\n\n\n
- Last week<\/a>, we said that the odds slightly favor the market to trade at least a little higher. Traders would see if the bulls could create a strong entry bar by trading above last week\u2019s high or if the market would trade slightly higher but stall around the November 7 high area instead.<\/li>\n\n\n\n
- The market traded lower on Monday followed by sideways to down trading for the rest of the week. The market remains in a tight trading range.<\/li>\n\n\n\n
- The bears saw last week as a pullback. They want a retest of the October low and the bottom of the triangle from a wedge bear flag (Oct 24, Nov 7, and Nov 22).<\/li>\n\n\n\n
- They want the bear trend line or the 20-week EMA to act as resistance. So far this is the case.<\/li>\n\n\n\n
- They must create a strong entry bar with follow-through selling to increase the odds of a breakout below the triangle.<\/li>\n\n\n\n
- The bulls see the move to November 18 as a two-legged pullback (with the first leg being the Oct 29 low).<\/li>\n\n\n\n
- They want a reversal from a wedge bull flag (Oct 1, Oct 29 and Nov 18) followed by a retest of the October 8 high.<\/li>\n\n\n\n
- If the market trades lower, they want the October low and the bottom of the triangle to act as supports.<\/li>\n\n\n\n
- Since this week\u2019s candlestick is an inside bear bar closing near its low, it is a sell signal bar for next week.<\/li>\n\n\n\n
- So far, the bulls have not yet been able to create sustained follow-through buying above the 20-week EMA in the last 6 weeks.<\/li>\n\n\n\n
- The market has been trading sideways with overlapping candlesticks, poor follow-through and frequent reversals which means the market is in a tight trading range.<\/li>\n\n\n\n
- 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
- Or will the market trade slightly lower but stall and reverse higher instead?<\/li>\n\n\n\n
- The middle of the trading range is an area of balance and a magnet.<\/li>\n\n\n\n
- The lower third of the large trading range can be the buy zone of trading range traders.<\/li>\n\n\n\n
- The market is in\u00a0a large\u00a0trading range (Trading range high:\u00a0September 29, Trading range low:\u00a0May 4).<\/li>\n\n\n\n
- 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
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
![\"Crude](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/Crude-Oil-Monthly-Middle-of-TR-Tight-Trading-Range.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n
- \n
- The November monthly Crude Oil candlestick was an inside bear bar closing in its lower half and below the 20-month EMA.<\/li>\n\n\n\n
- Last month<\/a>, we said the market is trading around the middle of the trading range which is an area of balance. The overlapping candlesticks, long tail (Oct), poor follow-through and frequent reversals are hallmarks of trading range price action.<\/li>\n\n\n\n
- The bears saw the move in October as a one-bar pullback and want a reversal from a wedge bear flag (Apr 12, Jul 5, and Oct 8).<\/li>\n\n\n\n
- They hope to get another sideways to down leg to retest the September 9 low followed by a breakout below the triangle.<\/li>\n\n\n\n
- They need to create a strong entry bar in December with follow-through selling to increase the odds of a breakout below the triangle.<\/li>\n\n\n\n
- The bulls\u00a0see the sideways to down move (to Sep 10) as a two-legged pullback.<\/li>\n\n\n\n
- They want a reversal from a double bottom bull flag (Jun 4 and Sep 10) and a larger double bottom bull flag (Dec 13 and Sep 10).<\/li>\n\n\n\n
- They see October\u2019s rally as breaking the minor bear trend line and want a higher low major trend reversal.<\/li>\n\n\n\n
- They want a retest of the triangle top and a strong breakout above.<\/li>\n\n\n\n
- If the market trades lower, the bulls want the September low or the bottom of the triangle to act as support.<\/li>\n\n\n\n
- Since November\u2019s candlestick is a small inside bear bar closing in its lower half, it can be a sell signal bar for December.<\/li>\n\n\n\n
- However, the overlapping candlesticks, poor follow-through and frequent reversals are hallmarks of a tight trading range price action.<\/li>\n\n\n\n
- The market is trading around the middle of the trading range which is an area of balance.<\/li>\n\n\n\n
- For now, traders will see if the bears can create a strong bear entry bar and a breakout below the September 10 low and triangle pattern.<\/li>\n\n\n\n
- Or if the bulls will be able to create a retest of the top of the triangle instead?<\/li>\n\n\n\n
- The market is in a trading range (sideways overlapping candlesticks). Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction with sustained follow-through buying\/selling.<\/li>\n\n\n\n
- The lower third of the large trading range can be the buy zone of trading range traders.<\/li>\n\n\n\n
- The increasingly tight triangle pattern indicates that Crude Oil is in a breakout mode.<\/li>\n<\/ul>\n\n\n\n
The Weekly<\/em> crude oil chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n- \n
- This\u00a0week\u2019s\u00a0candlestick on the\u00a0weekly Crude Oil chart<\/a> was an inside bear bar closing near its low and below the 20-week EMA.<\/li>\n\n\n\n
- Last week<\/a>, we said that the odds slightly favor the market to trade at least a little higher. Traders would see if the bulls could create a strong entry bar by trading above last week\u2019s high or if the market would trade slightly higher but stall around the November 7 high area instead.<\/li>\n\n\n\n
- The market traded lower on Monday followed by sideways to down trading for the rest of the week. The market remains in a tight trading range.<\/li>\n\n\n\n
- The bears saw last week as a pullback. They want a retest of the October low and the bottom of the triangle from a wedge bear flag (Oct 24, Nov 7, and Nov 22).<\/li>\n\n\n\n
- They want the bear trend line or the 20-week EMA to act as resistance. So far this is the case.<\/li>\n\n\n\n
- They must create a strong entry bar with follow-through selling to increase the odds of a breakout below the triangle.<\/li>\n\n\n\n
- The bulls see the move to November 18 as a two-legged pullback (with the first leg being the Oct 29 low).<\/li>\n\n\n\n
- They want a reversal from a wedge bull flag (Oct 1, Oct 29 and Nov 18) followed by a retest of the October 8 high.<\/li>\n\n\n\n
- If the market trades lower, they want the October low and the bottom of the triangle to act as supports.<\/li>\n\n\n\n
- Since this week\u2019s candlestick is an inside bear bar closing near its low, it is a sell signal bar for next week.<\/li>\n\n\n\n
- So far, the bulls have not yet been able to create sustained follow-through buying above the 20-week EMA in the last 6 weeks.<\/li>\n\n\n\n
- The market has been trading sideways with overlapping candlesticks, poor follow-through and frequent reversals which means the market is in a tight trading range.<\/li>\n\n\n\n
- 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
- Or will the market trade slightly lower but stall and reverse higher instead?<\/li>\n\n\n\n
- The middle of the trading range is an area of balance and a magnet.<\/li>\n\n\n\n
- The lower third of the large trading range can be the buy zone of trading range traders.<\/li>\n\n\n\n
- The market is in\u00a0a large\u00a0trading range (Trading range high:\u00a0September 29, Trading range low:\u00a0May 4).<\/li>\n\n\n\n
- 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
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
- Last week<\/a>, we said that the odds slightly favor the market to trade at least a little higher. Traders would see if the bulls could create a strong entry bar by trading above last week\u2019s high or if the market would trade slightly higher but stall around the November 7 high area instead.<\/li>\n\n\n\n