 |
| Marty's PIT Levels |
 |
| Marty's Pit Notes |
 |
| Economic News |
Crude Oil 240-Minute / 4-Hour:
 |
| Crude Oil 4-Hour |
The 4-hour
anchor chart of Crude Oil shows us coming off the highs at 108.93 as we trade
lower to the next swing-low and major support at 104.88 and 104.08. We can see a lot of room for price-action to
move lower this morning as it moves down to the trigger-zone at 100.69.
This is just a snapshot of our Morning-newsletter which is posted every
trading day at 8:00am EST in our Members Section.
Crude Oil 60-Minute:
 |
| Crude Oil 60-Minute |
The hourly
anchor chart shows us a price-wedge structure with a trend-line overhead as resistance
and a trend-line below us as support. We
can see the trigger-zone from 106.51 down to 105.93 and we are currently stuck
trading inside of this range as we open the morning session in the US. This chart tells us to expect support to be
in the market at this area so prices will likely bounce higher this morning
before trying to move lower once again.
Crude Oil Entry Chart:
 |
| Crude Oil 987-Tick |
Using the
987-tick chart as the anchor to our entry charts we can see a trading-range with
the lows at 106.00 and a trigger-zone overhead at 106.61. If prices rise higher we will look for a Wave
pattern long up to the 106.61 profit-target.
If we want to get trading short we need to see new lower-lows below
106.00 and we will sell retracements from there.
No comments:
Post a Comment