Crude Oil Day Trading Price Levels for Wednesday

The weekly chart of Crude Oil shows a big wick to last week’s
candle, and this morning we can see another big candlestick wick has developed
at the lows of this weekly candle.  This
further confirms our expectations of a rise in prices this week back up to the
range we were previously trading at.

Crude Oil Daily:

The daily anchor chart shows us rising quickly off the 86.91
buy-zone, just as we had projected at the end of last week, and we have an easy
target overhead at 90.72, 91.75, 92.03, and 93.37.  We can expect prices to rise higher this week
into the trigger-zone starting at 90.72. 
From there we will have to look for more clues, but for now, the
long-side is the high-percentage side in the long term trades.

Crude Oil 4-Hour:

The 4-hour chart shows us a LOT more detail this morning,
and for the first time this week we have Crude Oil moving into a new sell-zone on
the 240-minute anchor chart.  Now that we’re
testing the 89.73-90.24 sell-zone we have three scenarios to consider.  First, if price rises higher we have a higher-risk
buying opportunity from 90.25 up to 90.48 and higher.  Second, if prices trades sideways
(consolidated) inside the 89.73 sell-zone we will sit-on-hands and wait for
price to move higher or lower.  Third, if
price-action moves lower, below this sell-zone, we will be selling short down
to the trigger-zone support of 87.93 for a partial profit-target and a final
runner target at 86.58 for the short-side.

Crude Oil
60-Minute:

The hourly anchor chart shows us the incredible move off the
lows of this bullish price-channel, which we pointed out in yesterday’s daily
price-levels as an easy buying opportunity. 
Now that price-action has pushed to the highs of the price-channel and
into the 89.94 sell-zone we will expect for prices to pull back a little this morning.  We will expect a short term drop in prices
early in the session today, followed by a long term move higher most likely
around the trigger-zone of 88.88-88.63. 
a decent profit-target for the short-sellers would be 89.00 big-round-number
just above the 88.88 trigger-zone.  If we
are going higher this morning we need to be careful trying to buy into the sell-zone
at 89.94, wait patiently for the price-reversal in the sell-zone to get short,
and beware trying to force trades higher this morning unless we have undeniable
market personality from the bulls.

Crude Oil
30-Minute:

The half-hour chart of Crude Oil shows us the bull price-channel
and the test of the sell-zone at 89.94. 
We can easily see that price-action is moving lower off this sell-zone so
we are looking for selling opportunities as prices make new lower-lows.

Crude Oil Value
Area Bracket: