CL suffers a 9% decline in just two days, as suspected. Analyzing the order block responsible for multiple price rejections at $81.55. Evaluating the differences between time-based and range charts in a trending market. Quick Recap Before the end of the year, we looked at possible bearish targets around $67.98. CL dipped from $75 to Read More…
A look at the 2021 high that is a significant support and resistance level The RSI remains bearish with no signs of a reversal Potential bearish targets from 1-2-3 reversal and trend channel analysis Long Term Outlook We have been tracking the CL price for some time now as we watch the daily trend continue Read More…
Bears take over as CL’s price drops 12% in a week. The hourly chart shows the potential of a double-bottom formation. Bears Take Over In Monday’s article, we discussed two possible scenarios, the Bear case and the Bull case. Since then, CL has dropped 12% and has taken out the spinning top’s low. CL is Read More…
The long-term 1-2-3 reversal targets are back on the cards Short opportunities on the 30-minute chart. The 1-2-3 Reversal Pattern We must go back to September to view our analysis of the 1-2-3 reversal. Since the market has now broken below recent lows, the bearish target is in play. You can view that article here. Read More…
Oil fell on reports the EU was considering a higher Russian price cap. US gasoline stockpiles increased by 3.1 million barrels, pointing to slowed demand. Oil prices got support from the falling dollar after the less hawkish Fed minutes. Oil prices continued to fall on Thursday after the Group of Seven (G7) countries discussed setting Read More…
