May 21, 2013
- in Uncategorized by schooloftrade
Buying Opportunity for Crude Oil; Bullish Price-channel
Crude Oil Daily:
 |
| Crude Oil Daily Chart |
Daily anchor
chart shows us new higher-highs this evening as we got exactly what we had
expected from Crude Oil this morning. We
knew this morning that today’s price-action would be sloppy as it pushed
higher, and it gave us exactly that. We
can see the 96.00 sell-zone has been removed from this chart because we got a
close of the daily candlestick above the highs of that sell-zone, which leaves
us with the next sell-zone at 97.02 and we have closed below this sell-zone lows
so this leaves the door wide open for the sellers to push this price-action lower
overnight and tomorrow.
chart shows us new higher-highs this evening as we got exactly what we had
expected from Crude Oil this morning. We
knew this morning that today’s price-action would be sloppy as it pushed
higher, and it gave us exactly that. We
can see the 96.00 sell-zone has been removed from this chart because we got a
close of the daily candlestick above the highs of that sell-zone, which leaves
us with the next sell-zone at 97.02 and we have closed below this sell-zone lows
so this leaves the door wide open for the sellers to push this price-action lower
overnight and tomorrow.
Will these buyers keep
pushing higher, or will the supply in the market be enough to keep them at bay?
pushing higher, or will the supply in the market be enough to keep them at bay?
Crude Oil 60-Minute:
 |
| Crude Oil 60-Minute Chart |
The hourly
anchor chart shows us a BIG set of clues this evening as price-action has pushed
all the way into the major price-channel reversal zone of 97.33-96.72. This comes from that old bearish price-channel
below which is marked with the A, B, and C letters on this chart. Yes, when we break out of a price-channel we
always know there is a price-reversal zone that will follow it and we will be
ready to see price-action tumble off these highs and fall lower overnight or
tomorrow morning.
anchor chart shows us a BIG set of clues this evening as price-action has pushed
all the way into the major price-channel reversal zone of 97.33-96.72. This comes from that old bearish price-channel
below which is marked with the A, B, and C letters on this chart. Yes, when we break out of a price-channel we
always know there is a price-reversal zone that will follow it and we will be
ready to see price-action tumble off these highs and fall lower overnight or
tomorrow morning.
Do you see this bullish
price-channel?
Can you see the trigger-zone
support at 96.17-95.95?
We can
easily see a great buying opportunity around the lows of the price-channel and
the trigger-zone highs at 96.17. If we
get this price-action to fall off these highs we will sell short on the way
down to the 96.17, at which point we will take a profit-target and then move to
look for buying opportunities at these price-channel lows and trigger-zone support. This is a very high-percentage-trade and we
will be looking for selling opportunity as well as the buying opportunity on
Tuesday morning.
easily see a great buying opportunity around the lows of the price-channel and
the trigger-zone highs at 96.17. If we
get this price-action to fall off these highs we will sell short on the way
down to the 96.17, at which point we will take a profit-target and then move to
look for buying opportunities at these price-channel lows and trigger-zone support. This is a very high-percentage-trade and we
will be looking for selling opportunity as well as the buying opportunity on
Tuesday morning.
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