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USOIL (Crude Oil) Trading Analysis

Posted on May 29th, 2019

by colibritrader

USOIL (Crude Oil) Trading Analysis

Hi all,

It has been a while I have not shared any trading analysis here, but was busy with the creation of a new project, for which I hope to be able to share in a few months.

The last two trading ideas that I shared with you were on DAX and Gold.

I am still on the same page and managed to get into a DAX trade, but since we have reached the 11800 support level am starting to get a bit more hesitant.

I would like to see if price confirms or rejects this level and to decide if I should stay in my current short position or exit it.

USOIL (Crude Oil) Trading Analysis

Today I am also seeing a potential setup on the crude oil market. It looks like the daily candle is a rejection and possibly will get more buyers to queue up this wagon 🙂

I would ideally like to see price retracing back to 58.50 before taking any trades.

If price goes back to that level and confirms it with a price action candlestick, I might considering going long.

Happy Trading,

Colibri Trader

p.s.

Have you checked my recent article on Moving Averages?

2 thoughts on “USOIL (Crude Oil) Trading Analysis”

Ed Schaffer says:

May 31, 2019 at 5:45 pm

CL now trades at $54.80 + on 2019-5-31, the low trade so far was $54.72. Enough said.

Reply
1. colibritrader says:
  
  June 1, 2019 at 11:45 am
  
  Absolutely! There was no signal from the 4H chart and therefore bears took control and led the price lower. It was a great price action example!
  
  Reply

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