Join us every morning at 7:30am EST for our Screen to Floor, Crude Oil Morning Prep!
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| Crude Oil 30-Minute |
Crude Oil 30-Minute:
We can see
sideways-trading-ranges this morning on Crude Oil Futures as we head into the
Inventory news at 1030am EST. We can see
the price-wedge structure telling us to buy the lows and sell the highs using
the buy and sell-zones we have defined at 95.99 above and 95.39 below. The key to our success trading Crude Oil this
morning will be to stay patient to sell in the sell-zone and buy in the
buy-zone. We will avoid trading in the
middle of this trading range this morning so we only take the
high-percentage-trades.
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| Crude Oil 5-Minute VIP |
The Plan Today:
Our 5-minute
VIP chart shows us the same sideways-trading-range as we trade in the middle of
the London trading Session ahead of the opening bell. The most important things we see on this
faster entry-timeframe is the resistance above and support below us this
morning. If price-action moves HIGHER
this morning we will be selling at the highs all the way up to 96.24. 96.24 is our level to start buying, so look
for a close above the 96.24 to start buying, and we’re selling all the way up
to 96.24. On the way lower this morning
we are buying all the way down to 94.79, looking for a price-reversal at the
London support, symmetry support, and Fibonacci support. Again, we will be buying the price-reversal
as far down as 94.79. A close below
94.79 will result in us selling short.
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