Market Overview: Crude Oil Futures Crude oil futures moved higher with a strong bull bar with a tail above in a bull microchannel. There were buyers below the MA in a 20-bar MA gap buy setup. The inside bar got good follow-through, and now there are open bull gaps. The bears see it as a […]
Crude Oil Climactic Rally
Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil climactic rally. While odds slightly favor the market to still be in the sideways to up phase, the move up since June has lasted a long time and is slightly climactic. A minor pullback can begin at any moment. The bears want a […]
Crude Oil Strong Bulls
Market Overview: Crude Oil Futures The weekly chart formed another consecutive bull bar which means Crude Oil strong bulls. The market likely has flipped into Always In Long. The bears hope to get a reversal down from a large double top bear flag with November 2022 high. Crude oil futures The Weekly crude oil chart […]
Crude Oil Tight Bull Channel
Market Overview: Crude Oil Futures The market formed a Crude Oil tight bull channel with some follow-through following last week’s breakout above the 41-week trading range. The bulls want a strong breakout above the trading range and a measured move based on the height of the 41-week trading range. The bears want a reversal down […]
Crude Oil Follow-through Buying
Market Overview: Crude Oil Futures The market formed a Crude Oil follow-through buying on the monthly chart testing the 9-month trading range high. The bulls want a breakout above and a measured move-up. The bears want a failed breakout above the trading range and the beginning of the bear leg. Crude oil futures The Monthly […]
Crude Oil Weak Follow-through
Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil weak follow-through bear bar. The bulls want a retest and breakout above the August 10 high. The bears want the start of the bear leg to retest the 40-week trading range low. The market is in a 40-week trading range. Traders will BLSH […]
Crude Oil First Pullback below 7-bar Bull MC
Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil first pullback below the 7-bar bull microchannel. The bears need to create follow-through selling to increase the odds of the bear leg beginning. The bulls want a retest of the August 10 high followed by a breakout and a measured move up. Crude […]
Crude Oil 7-Bar Bull Microchannel, Bull Leg
Market Overview: Crude Oil Futures The market formed a Crude Oil 7-bar bull microchannel on the weekly chart. That means strong bulls and increases the odds that the first pullback will be minor. The bears want the market to stall around the 38-week trading range high and for the bear leg to begin. Crude oil […]
Crude Oil Bull Microchannel
Market Overview: Crude Oil Futures The market formed a 6-bar Crude Oil Bull Microchannel on the weekly chart. It is a strong bull leg which increases the odds of buyers below the first pullback. The bulls want a breakout above the trading range high (April high). The bears want the market to stall around the […]
Crude Oil Strong Bull Leg
Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil strong bull leg in the form of a 5-bar bull microchannel. The bulls want a retest and breakout above the trading range high (April high). The bears want the market to stall around the trading range high area and reverse lower. Crude oil […]