A powerful Dragonfly Doji was formed during yesterday’s volatile session. CL prices bounce off of the Parabolic curve mentioned last Friday. What to expect next? The Parabolic Curve Acts as a Support In yesterday’s volatile session, CL dropped over 6% right into the support zone and the parabolic curve we mentioned in Friday’s technical analysis. Read More…
A Parabolic channel has been identified on the Daily Chart. CL is trading off a support zone at $81.40. Important note on stop placement. Chart Analysis Recap The Head & Shoulders pattern referenced in our CL chart analysis on November 7 did not confirm. The neckline acted as a barricade that the bulls could not Read More…
There are increasing demand worries as China reports rising COVID-19 cases. Geopolitical tensions have eased after NATO confirmed the Poland missile was an accident. Retail sales in the United States rose more than anticipated in October. Oil prices went down for the second day on Thursday as worries about demand in China, the biggest crude Read More…
The Neckline of the Inverse Head & Shoulders pattern Daily chart is tested. Fibonacci targets revisited from last week. Price zones to keep in mind while trading today’s session. Quick Recap In our analysis from last week, the Head & Shoulders and Parabola were the main focus. CL price has broken the Parabola, which signals Read More…
CL prices continue to follow the Parabola. The Inverse Head & Shoulders pattern has a chance as the price hovers above the neckline. Technicals point toward a bullish sentiment. Fibonacci analysis and targets if the rally continues. Quick Recap In the previous two articles, the central theme has been the bullish sentiment of CL, mainly Read More…
Crude oil is a “spiky” commodity. Now and then, someone will truly require it, today, and can pay a high price for immediacy. The industry for oil in Cushing, Oklahoma may be moderately effective, but what occurs when somebody in Peoria requires oil now? A good business potential! Instead of managing a hotel, you construct Read More…
