Strong move today.

WTI Crude Oil Trading

lol, excellent copy paste!

WTI Crude Oil Trading

Excellent assessment! April contract advanced ~120 pips after breaching downtrend line and EMA20, getting close to 60.40 before sliding back.

WTI Crude Oil Trading

Closing price and the median for the last bar are at the downtrend line (red) and the EMA20. Price action could now go either way.

WTI Crude Oil Trading

The Beyfor chart above may be indicating that the uptrend from late Dec was just a correction to the decline from ~77. I think the oil fundamentals are artificial on the supply side, with demand looking weak with the economy. It might be difficult ...

WTI Crude Oil Trading

security and error checking

Dashboard EA based on Daytrading/scalping with high leverage

End of week update. WTI April contract down 1.7% today; S&P500 down 1.9%. LoD was 58.28. The pattern is similar to the decline on Mar 7, which was followed by a large uptrend. (I'm not suggesting up or down from here.) Open issue: is this a ...

WTI Crude Oil Trading

It's a bit early to judge, but this looks like a potential trend reversal rather than a correction. Price has reached the first lower gradient band (LB1) at 58.8. It should hit some support around 57. to 58. if it continues.

WTI Crude Oil Trading

Price plunge through trend line and support. It looks like a lot of sudden momentum to downside. High for the trend was 60.39, now down 120 pips (April contract).

WTI Crude Oil Trading

This was Consolidation Day. The trend from Mar 11 is looking tired. I think much depends on the success of support ~59.5-.6. An unexpected news item could send WTI either way.

WTI Crude Oil Trading

The April contract is currently at ~59.8. I see support around 59.5-.6. If that is breached, we could see a deeper correction or trend reversal. Since the Fed people acknowledged economic weakness, the uptrend is in question, but not yet dead.

WTI Crude Oil Trading

After drifting through the uptrend line (blue), price surged through the downtrend line (red), mostly because of the crude draw down. The surge ran for ~100 pips. Prices may spend some time in consolidation here at the important 60.00 level.

WTI Crude Oil Trading

Median line is drifting through the uptrend line (blue), but also into the pennant corner. It could do anything here. 1030 ET - Crude Oil Inventories 1400 ET - FOMC Statement WTI might not do much before the FOMC.

WTI Crude Oil Trading

I would not use it without access to its source code.

Dashboard EA based on Daytrading/scalping with high leverage

Advance & consolidate pattern continues. Downtrend line (red) broken, price action remains above EMA20 and uptrend line (blue).

WTI Crude Oil Trading

End of week update. The chart has changed to the April contract: GCLK9.

WTI Crude Oil Trading

Could easily be the case. There might be a pause at the current level.

WTI Crude Oil Trading

Breakout from the channel with HoD of 58.48. The top is at the second upper band (UB2), which shows significantly overbought.

WTI Crude Oil Trading

Interesting cross-currents: WTI is up on report of inventory drawdowns, while US stocks are diving on Boeing issues. If the report of US grounding the Max 8 is correct, they cannot fly inside the US, which means Boeing cannot even make ferry flights ...

WTI Crude Oil Trading

The advance continued today, with consolidation around 57.10 after the HoD at 57.55. This high is an advance of ~150 pips from where the median line crossed the downtrend line (red) at ~56.05. The HoD occurred right at the resistance line/channel ...

WTI Crude Oil Trading