Swing Trading

/CL To Catch RSX

The chart below illustrates one currently bearish point for the price direction of light sweet crude oil (/CL). We have posted this chart in the past and thought it may serve traders well again today. The blue bars on the chart represnt the Russian Stock Index (RSX). The purple line is the daily closing price […]

This content is available only to members.
Register now for FREE access

Register   Log In

Filters

Select Category
Select Author
Swing Trading

Crude Oil Looks Booollish

Today at 10:30 am EST, the EIA Petroleum Status Report which will definitely influence the price direction of crude oil (/CL, USO) today. In light of this, we’re offering out opinion for the direction of crude oil in the short term below. The magenta circle marks the 52.00 level which proved to be an important […]

This content is available only to members.
Register now for FREE access

Register   Log In

Swing Trading

Will Oil Continue Higher?

Both crude oil and gasoline inventories fell yesterday. Accordingly, oil traded higher yesterday following the data release. The question now is can price overcome technical resistance going forward. The red rectangles highlight the multiple times oil has tested the top of the descending channel during August. Yesterday, the black gold closed just under the resistance. […]

This content is available only to members.
Register now for FREE access

Register   Log In

Swing Trading

Oil Near Top of Channel

The spot price of WTI Crude Oil is coming into a short entry point. Please observe the chart below. The descending channel oulined in blue has served as excellent reference for reversals in oil. These reversals have taken place every five weeks (approximately). Oil is now within one day’s range of a reversal at the […]

This content is available only to members.
Register now for FREE access

Register   Log In

Swing Trading

ShadowTrader Free Trade Idea of the Week – USO – Long

Each week Peter and his minions scour the markets to find the best equity and forex setups for the followers of the Swing Trader and FX Trader. Premium subscribers get 2-5 of these daily. Every weekend we present one trade idea from either the equity or the forex side here.Note: Free weekly trade ideas are […]

This content is available only to members.
Register now for FREE access

Register   Log In

Swing Trading

Crude Oil Coming Into Resistance

A short trade setup in Crude Oil is described below. After three strong days higher, Crude Oil is coming into descending trendline resistance (red arrow). We’re looking for a reversal back lower to the level just over 43.00 (green arrow). USO is coming into the same trednline resistance. We’ve listed the trade parameters for a […]

This content is available only to members.
Register now for FREE access

Register   Log In

Swing Trading

Crude Oil – No Pain, No Gain

Oil’s recent pain can equal a short term gain. Please observe the chart below. For a short term trade, we’re looking for crude oil (/CL) to reverse off support just under 44.00. The significance of this level is illustrated with magenta ovals which highlight the many times price has pivoted from it. 46.00 is the […]

This content is available only to members.
Register now for FREE access

Register   Log In

Swing Trading

The Tug of War in Crude Oil

The most interesting chart currently belongs to crude oil (CL) which is pictured below. Crude oil inventories fell by 4.1 million barrels yesterday which was the sixth consecutive weekly decline. This pushed prices higher and into the 50.00 level which represents both strong psychological and technical resistance level. Psychological resistance due to the round whole […]

This content is available only to members.
Register now for FREE access

Register   Log In

Swing Trading

Crude Oil Coming Into Key Level

The daily chart of Crude Oil (/ES, USO) posted below illustrates the hurdles facing bears for continuation lower. Crude oil broke the downside of the three month ascending wedge outlined by red lines. However, the 61.8% level of the Fibonacci retracement study we have had on our chart for months has acted as a key […]

This content is available only to members.
Register now for FREE access

Register   Log In

Swing Trading

ATW For A Trade

Good morning traders. Over the weekend, relationships between oil producing middle eastern countries became even more strained. We acknowledge that global crude oil production and pricing dynamics have changed over the past year, but these political tensions may cause a short term spike in oil. Stock prices of oil related names such as Atwood Oceanics […]

This content is available only to members.
Register now for FREE access

Register   Log In