The Weekly<\/em> crude oil chart<\/h3>\n\n\n\n![\"Crude](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/02\/Crude-Oil-Weekly-Wedge-Bear-Flag-or-Wedge-Bull-Flag-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 a bear doji closing near its low with a long tail above.<\/li>\n\n\n\n
- Last week<\/a>, we said traders would see if the bears could create more follow-through selling following this week\u2019s close below the 20-week EMA. Or if the market would continue to stall around the 20-week EMA followed by a pullback higher within the next few weeks instead.<\/li>\n\n\n\n
- This week’s candlestick traded slightly lower but had a lot of overlapping range with last week\u2019s candlestick.<\/li>\n\n\n\n
- The bears got some follow-through selling trading below the 20-week EMA albeit not strong.<\/li>\n\n\n\n
- The move down is in a bear channel with many overlapping ranges, especially in the last four weeks which indicates weaker momentum.<\/li>\n\n\n\n
- The bears want another strong leg down to test the November low area from a wedge bear flag (Feb 3, Feb 11, and Feb 20).<\/li>\n\n\n\n
- The bulls see the current move as a deep pullback and a retest of the breakout point (top of the tight trading range).<\/li>\n\n\n\n
- They hope to get a retest of the January 15 high from a wedge bull flag (Feb 6, Feb 13, and Feb 18).<\/li>\n\n\n\n
- The market attempted to trade higher in the last three weeks (Feb 3, Feb 11, and Feb 20) but the follow-through buying was limited, forming lower highs.<\/li>\n\n\n\n
- They need to create strong bull bars closing near their highs to show that they are back in control.<\/li>\n\n\n\n
- They want the 20-week EMA and the middle of the trading range area to continue acting as support.<\/li>\n\n\n\n
- The market is currently trading around the middle of the large trading range which is an area of balance and a magnet.<\/li>\n\n\n\n
- The overlapping ranges in the last 4 weeks indicate slightly weaker selling momentum.<\/li>\n\n\n\n
- Attempts to trade higher in the last three weeks (Feb 3, Feb 11, and Feb 20) had limited follow-through buying which indicates the bulls are not yet as strong as they hope to be.<\/li>\n\n\n\n
- For now, traders will see if the bears can create a strong breakout below the February 18 low, forming a larger second leg down (with the first leg being Jan 15 to Feb 6).<\/li>\n\n\n\n
- Or will the market continue to stall around the 20-week EMA followed by a pullback higher within the next few weeks instead?<\/li>\n\n\n\n
- Because of the repeated failure to trade higher in the last 3 weeks (forming lower highs), the market could attempt to break lower next week.<\/li>\n\n\n\n
- The market remains in a large trading range.<\/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\n\n\n
- That means selling in the upper third and buying in the lower third of the trading range.<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> crude oil chart<\/h3>\n\n\n\n![\"Crude](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/02\/Crude-Oil-Daily-Wedge-Bull-Flag-or-Wedge-Bear-Flag-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n
![\"Crude](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/02\/Crude-Oil-Weekly-Wedge-Bear-Flag-or-Wedge-Bull-Flag.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 a bear doji closing near its low with a long tail above.<\/li>\n\n\n\n
- Last week<\/a>, we said traders would see if the bears could create more follow-through selling following this week\u2019s close below the 20-week EMA. Or if the market would continue to stall around the 20-week EMA followed by a pullback higher within the next few weeks instead.<\/li>\n\n\n\n
- This week’s candlestick traded slightly lower but had a lot of overlapping range with last week\u2019s candlestick.<\/li>\n\n\n\n
- The bears got some follow-through selling trading below the 20-week EMA albeit not strong.<\/li>\n\n\n\n
- The move down is in a bear channel with many overlapping ranges, especially in the last four weeks which indicates weaker momentum.<\/li>\n\n\n\n
- The bears want another strong leg down to test the November low area from a wedge bear flag (Feb 3, Feb 11, and Feb 20).<\/li>\n\n\n\n
- The bulls see the current move as a deep pullback and a retest of the breakout point (top of the tight trading range).<\/li>\n\n\n\n
- They hope to get a retest of the January 15 high from a wedge bull flag (Feb 6, Feb 13, and Feb 18).<\/li>\n\n\n\n
- The market attempted to trade higher in the last three weeks (Feb 3, Feb 11, and Feb 20) but the follow-through buying was limited, forming lower highs.<\/li>\n\n\n\n
- They need to create strong bull bars closing near their highs to show that they are back in control.<\/li>\n\n\n\n
- They want the 20-week EMA and the middle of the trading range area to continue acting as support.<\/li>\n\n\n\n
- The market is currently trading around the middle of the large trading range which is an area of balance and a magnet.<\/li>\n\n\n\n
- The overlapping ranges in the last 4 weeks indicate slightly weaker selling momentum.<\/li>\n\n\n\n
- Attempts to trade higher in the last three weeks (Feb 3, Feb 11, and Feb 20) had limited follow-through buying which indicates the bulls are not yet as strong as they hope to be.<\/li>\n\n\n\n
- For now, traders will see if the bears can create a strong breakout below the February 18 low, forming a larger second leg down (with the first leg being Jan 15 to Feb 6).<\/li>\n\n\n\n
- Or will the market continue to stall around the 20-week EMA followed by a pullback higher within the next few weeks instead?<\/li>\n\n\n\n
- Because of the repeated failure to trade higher in the last 3 weeks (forming lower highs), the market could attempt to break lower next week.<\/li>\n\n\n\n
- The market remains in a large trading range.<\/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\n\n\n
- That means selling in the upper third and buying in the lower third of the trading range.<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> crude oil chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n - Last week<\/a>, we said traders would see if the bears could create more follow-through selling following this week\u2019s close below the 20-week EMA. Or if the market would continue to stall around the 20-week EMA followed by a pullback higher within the next few weeks instead.<\/li>\n\n\n\n