Crude Oil Weekly & Daily
Charts:
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| Crude Oil Daily Chart |
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| Crude Oil Weekly Chart |
The Crude
Oil weekly chart shows us 2 big clues this morning as we begin a new week. First, we see the short term sideways-trading-range
from 99.44 down to 86.57. Second, we
have a price-wedge structure that has the highs above us around 103.28 and the
lows down around 90.00. We can see that
this chart tells us to buy pullbacks this WEEK for the high-percentage-trades as
prices will likely test the 100.0 big-round-number as price rise in the
summertime.
Crude Oil 240-minute
chart:
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| Crude Oil 4-Hour Chart |
The 4-hour
chart of Crude Oil shows us this big bullish price-channel with a projected
high at 100.23 before we pull back and re-test the lows. We can see there are only a few sell-zones
above us acting as resistance standing in our way before we test the 100.0 big-round-number. Look for easy profit-targets on the way
higher at 98.61, 99.29, 100.00 and 100.23.
This 4-hour chart continues to tell us the bulls are in control, so we are
buying pullbacks on the way higher.
Crude Oil 60-Minute
Chart:
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| Crude Oil Hourly Chart |
Crude Oil VIP Chart:
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| Crude Oil VIP Chart |
Our
VIP-Chart of Crude Oil tells us exactly where we are going to enter and exit
our trades today. Remember, the slower
timeframe charts told us to buy pullbacks this morning, and this faster
timeframe shows us that buying at the levels below us will be where we see the high-percentage-trades
this morning. I am buying at 98.03,
97.87, 97.76, 97.51, and 97.38 as we pull back off these highs. As prices move higher I am looking for a profit-target
above us at 98.92, 99.23, and 99.58 overhead.
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