{"id":231833,"date":"2025-03-09T01:30:00","date_gmt":"2025-03-09T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=231833"},"modified":"2025-03-09T00:14:09","modified_gmt":"2025-03-09T08:14:09","slug":"crude-oil-large-second-leg-sideways-to-down","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/crude-oil-large-second-leg-sideways-to-down\/","title":{"rendered":"Crude Oil Large Second Leg Sideways to Down"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: Crude Oil Futures<\/h2>\n\n\n\n<p>The market formed a Crude Oil large second leg sideways to down on the weekly chart. The bears must continue to create follow-through selling to increase the odds of breaking below the November 18 low. The bulls hope the lower third of the trading range will be an area of support.<\/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\/2025\/03\/Crude-Oil-Weekly-Larger-2nd-Leg-Sideways-to-Down-resize.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/03\/Crude-Oil-Weekly-Larger-2nd-Leg-Sideways-to-Down-resize-680x383.jpg\" alt=\"Crude Oil Weekly - Larger 2nd Leg Sideways to Down, Crude Oil Large Second Leg Sideways to Down\" class=\"wp-image-231961\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/03\/Crude-Oil-Weekly-Larger-2nd-Leg-Sideways-to-Down-resize-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/03\/Crude-Oil-Weekly-Larger-2nd-Leg-Sideways-to-Down-resize-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/03\/Crude-Oil-Weekly-Larger-2nd-Leg-Sideways-to-Down-resize-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/03\/Crude-Oil-Weekly-Larger-2nd-Leg-Sideways-to-Down-resize.jpg 1280w\" 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 bear bar closing in its lower half with a long tail below.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/crude-oil-weak-bear-channel\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that traders would see if the bears could continue to create follow-through selling trading below the 20-week EMA, or if the market would reverse back above the 20-week EMA and trade higher within the next few weeks instead.<\/li>\n\n\n\n<li>The bears want another strong leg down to test the November 18 low area from a wedge bear flag (Feb 3, Feb 11, and Feb 20). They got what they wanted.<\/li>\n\n\n\n<li>The move down is in a weaker bear channel (many overlapping ranges, doji bars and prominent tails below candlesticks).<\/li>\n\n\n\n<li>The bears must continue to create follow-through selling to increase the odds of breaking below the November 18 low.<\/li>\n\n\n\n<li>If the market trades higher, they want the 20-week EMA or the bear trend line to act as resistance.<\/li>\n\n\n\n<li>The bulls see the current move as a large two-legged bear leg.<\/li>\n\n\n\n<li>They hope the lower third of the trading range will be an area of support.<\/li>\n\n\n\n<li>They need to create strong bull bars closing near their highs and trading back above the 20-week EMA to show that they are back in control.<\/li>\n\n\n\n<li>The market is currently trading slightly below the middle of the large trading range.<\/li>\n\n\n\n<li>The market could still be in the sideways to down leg phase.<\/li>\n\n\n\n<li>Traders will see if the bears can continue to create follow-through selling testing the November 18 low area.<\/li>\n\n\n\n<li>Or will the market start to stall around the current levels and reverse back to the middle of the trading range instead (around the 20-week EMA)?<\/li>\n\n\n\n<li>The market remains in a large trading range.<\/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\n\n\n<li>That means selling in the upper third and buying in the lower third of the trading range.<\/li>\n\n\n\n<li>Poor follow-through and frequent reversals are hallmarks of a trading range price action.<\/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\/2025\/03\/Crude-Oil-Daily-2nd-Leg-Sideways-to-Down-resize.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/03\/Crude-Oil-Daily-2nd-Leg-Sideways-to-Down-resize-680x383.jpg\" alt=\"Crude Oil Daily - 2nd Leg Sideways to Down\" class=\"wp-image-231964\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/03\/Crude-Oil-Daily-2nd-Leg-Sideways-to-Down-resize-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/03\/Crude-Oil-Daily-2nd-Leg-Sideways-to-Down-resize-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/03\/Crude-Oil-Daily-2nd-Leg-Sideways-to-Down-resize-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/03\/Crude-Oil-Daily-2nd-Leg-Sideways-to-Down-resize.jpg 1280w\" 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 lower in the first half of the week. Crude Oil formed a pullback on Friday but the candlestick was a bull bar with a long tail above.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/crude-oil-bears-want-a-breakout\/\" target=\"_blank\" rel=\"noreferrer noopener\">Previously<\/a>, we said traders would see if the bears could create a breakout below the February 18 low with sustained follow-through selling which will increase the odds of another strong leg towards the November low area.<\/li>\n\n\n\n<li>The bears got a larger second leg sideways to down (with the first leg being the Jan 15 high to the Jan 27 low).<\/li>\n\n\n\n<li>They hope to get a retest of the November low and the trading range low area.<\/li>\n\n\n\n<li>If the market trades higher, they want the 20-day EMA or the bear trend line to act as resistance.<\/li>\n\n\n\n<li>They want at least a small sideways to down leg to retest the current leg extreme low (now Mar 5).<\/li>\n\n\n\n<li>The bulls see the current move as a large two-legged bear leg within the trading range.<\/li>\n\n\n\n<li>They want a reversal from a wedge pattern (Jan 27, Feb 18, and Mar 5).<\/li>\n\n\n\n<li>They hope that the November low area and the lower third of the trading range will be an area of support.<\/li>\n\n\n\n<li>They need to create consecutive bull bars closing near their highs breaking far above the 20-day EMA and the bear trend line to show they are back in control.<\/li>\n\n\n\n<li>So far, the market formed a large two-legged bear leg in the trading range.<\/li>\n\n\n\n<li>The move down has a lot of pullbacks and overlapping ranges which is a weaker bear channel.<\/li>\n\n\n\n<li>For now, traders will see if the bears can continue to create follow-through selling trading below the November 18 low area.<\/li>\n\n\n\n<li>Or will the market start to stall around the current levels followed by a pullback to the 20-day EMA instead?<\/li>\n\n\n\n<li>The bear leg within the trading range is currently underway. The market could still trade slightly lower.<\/li>\n\n\n\n<li>The market remains in a large trading range. Traders will BLSH (Buy Low, Sell High) within the trading range.<\/li>\n\n\n\n<li>That means buying in the lower third and selling in the upper third of the trading range.<\/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 The market formed a Crude Oil large second leg sideways to down on the weekly chart. The bears must continue to create follow-through selling to increase the odds of breaking below the November 18 low. The bulls hope the lower third of the trading range will be an area of [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":231961,"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":{"0":"post-231833","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crude-oil","8":"category-analysis","9":"tag-crude-oil-futures","10":"entry","11":"override","12":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/03\/Crude-Oil-Weekly-Larger-2nd-Leg-Sideways-to-Down-resize.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\/231833","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=231833"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/231833\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/231961"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=231833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=231833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=231833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}