Light Crude Oil jumped to $130 a barrel at one point, the highest level for more than a decade, while wholesale gas prices for next-day delivery more than doubled. However, if we look at the monthly timeframe, Light Crude Oil CL analysis below, you will see a strong monthly imbalance around $130 has been reached....
As explained in a previous Light Crude Oil (CL) analysis, as major economies go into lockdown, oil demand continues to fall off a cliff. A few weeks ago, the U.S. was doing very little against the corona virus propagations, but things have changed dramatically. In just a couple of weeks, there has been a proliferation...
As major economies go into lockdown, oil demand continues to fall off a cliff. A few days ago, the U.S. was doing very little against the corona virus propagations. In just a few days’ time, there has been a proliferation of school cancellations, mass gathering prohibitions and mandatory telework orders, following suit with what has...
Light Crude Oil WTI Futures #CL has a monthly demand level located around $48.64 that gained control a couple of months ago. The fact that we have had that monthly imbalance in control allowed us to make too decisions. 1) No shorts would are allowed trading against a big timeframe demand imbalance that has gained...
Crude Oil CL monthly demand has gained control after months of dropping quite strongly. Monthly demand level around 48 has been reached after having a beating for three consecutive months. This drop has created a very strong monthly supply imbalance around $69 where shorts will be possible again. Crude oil technical analysis, high odds Selling...
Light Crude Oil #CL long opportunties with weekly demand in control and clear weekly uptrend. New H4 demand level at 70.16 that eliminated tested H4 supply level around 70.60 is playing out, this imbalance also eliminated a weak daily supply imbalance as mentioned in previous Light Crude Oil technical analysis, and on an older Light Crude Oil video...
Light Crude Oil #CL long term long bias, weekly demand level in control, similar scenario is also available on Brent. #CL high odds for longs on clear weekly demand zone Weekly chart is uptrending, weekly demand imbalance at 64.94 is in control and printing higher lows. Daily demand at 65.82 in control attacking a used-up daily...
Clear uptrend on Light Crude Oil #CL. Monthly and weekly are in an uptrend creating new demand levels on the way up and nothing to the left with room to reach monthly supply higher around 101. #CL high odds scenario for longs Weekly demand zones from 58 and 64 are in control. There is a...