Crude Oil Morning Prep; Screen to Floor 04/30/13

Crude Oil 240-Minute

Crude Oil 4-Hour:

The 240-Minute chart shows us a big wide open space above the 95.12 swing-high so look for the sellers to try and provide enough supply to keep prices below this level.  We will look for a test of the 94.79, followed by a price-reversal to get short off this sell-zone above us.  If prices fall lower this morning we assume we will be pulling back in a trigger-zone Fibonacci retracement and we will be selling short on the way down.

Crude Oil 60-Minute

Crude Oil 60-Minute:

Hourly anchor chart shows us the new bull price-channel which has been confirmed using our advanced price-structures and Fibonacci ratios.  We can see the A, B, C and we are now waiting for a test fo the 93.00 area for a great buying opportunity at the lows of the price-channel.

Crude Oil 30-Minute

Crude Oil 30-Minute:

30-Minute anchor charts shows us trading in a narrow sideways-trading-range.  We need to break below this 94.28 buy-zone in order to head lower, and above the 94.74 to move higher.

If we do move higher, there is a LOT of wide open space above the 95.15 swing-high so there may be plenty of opportunity for this price-action to move higher, we just need to see who takes control this morning.

Crude Oil VIP 5-Minute

Crude Oil VIP Chart:

I’m going to buy-the-lows at support and sell-the-high at resistance of the London trading Session from 94.62-94.13.  Looking for a price-reversal inside the London Reversal-Zone above and below the London trading Session.  If we see a 5-minute candle close below 93.99 we are bearish and selling short.  A 5-minute candle close above the 94.75 will mean bullish market sentiment and we will buy pullbacks on the way higher.

FLOOR LEVELS FOR TODAY:  Open at 9:00am EST

Opening Print above 95.00 = Bullish

Opening Print below 94.00 = Bearish

Range Between 94.00 and 95.00 we expect a sideways-trading-range so trading accordingly.