Range-bound day in Crude, but the Key Levels worked out fairly well.
CL 5-Minute Chart for 02/17/10
Showing posts with label crude. Show all posts
Showing posts with label crude. Show all posts
Wednesday, February 17, 2010
Wed. 02/17/2010 - Crude Oil Futures Review/Analysis
Light Sweet Crude Oil Futures
Range-bound day in Crude, but the Key Levels worked out fairly well.
CL 5-Minute Chart for 02/17/10
Range-bound day in Crude, but the Key Levels worked out fairly well.
CL 5-Minute Chart for 02/17/10
Tuesday, February 16, 2010
Wed. 02/17/2010 - Crude Oil Futures Key Support/Resistance Levels
Light Sweet Crude Oil Futures
Very short on time today so put these together in a hurry -- lets see how they play out.
CL - Daily Chart with Volume Profile and Key Levels
Very short on time today so put these together in a hurry -- lets see how they play out.
CL - Daily Chart with Volume Profile and Key Levels
Tuesday 02/16/2010 - Crude Oil Futures Review/Analysis
Light Sweet Crude Oil Futures
Solid up-trend in Crude, with clear action around Support/Resistance areas. By that, I mean when Crude broke through an Area of Resistance, it then acted as Support on a re-test.
CL 5-Minute Chart for 02/16/10
Solid up-trend in Crude, with clear action around Support/Resistance areas. By that, I mean when Crude broke through an Area of Resistance, it then acted as Support on a re-test.
CL 5-Minute Chart for 02/16/10
Monday, February 15, 2010
Tuesday 02/16/2010 - Crude Oil Futures Key Support/Resistance Levels
Light Sweet Crude Oil Futures
Just started looking at Light Sweet Crude Oil Futures on NYMEX and tracking some Key Levels for my education. Accuracy will improve over time as I learn and adapt the Key Levels for that specific market.
CL - Daily Chart with Volume Profile and Key Levels
Just started looking at Light Sweet Crude Oil Futures on NYMEX and tracking some Key Levels for my education. Accuracy will improve over time as I learn and adapt the Key Levels for that specific market.
CL - Daily Chart with Volume Profile and Key Levels
Tuesday, December 15, 2009
Key Levels & Scenarios (S&P 500 Futures) for Tuesday 12/15/2009
E-Mini S&P 500 Futures
Market is holding up fairly well so far. Price consolidated above the previous VPOC (bullish). We got a 61.8% retracement on the 60-minute chart, and price has been trending higher from there. In the overnight session, near-term bias is bullish as long as price remains above 1108. The initial resistance zone is 1113-1115, with range extension target/resistance in the 1116.50-1118 area. Below here, we have several cushions of support (highlighted in key levels chart).
Scenario
Producer Price Index at 7:30 AM (cst), Redbook at 7:55 am, Industrial Production at 8:15 AM. FOMC meeting begins tomorrow with the announcement on Wednesday. If we get a negative reaction to the Econ data, price could push through the initial support and tag 1101. I am anticipating a bounce in the 1101-1103 area. A positive reaction could take us to the 1118s; I'm anticipating a pullback there. Bias is bullish above 1101, and bearish below it.
ES - Daily Bar Chart with Volume Profile and Key Levels
Crude (CLF10)
For Crude traders, decent move developing on the hourly chart. Anticipating triangle break-out.
CL - Hourly Chart
Market is holding up fairly well so far. Price consolidated above the previous VPOC (bullish). We got a 61.8% retracement on the 60-minute chart, and price has been trending higher from there. In the overnight session, near-term bias is bullish as long as price remains above 1108. The initial resistance zone is 1113-1115, with range extension target/resistance in the 1116.50-1118 area. Below here, we have several cushions of support (highlighted in key levels chart).
Scenario
Producer Price Index at 7:30 AM (cst), Redbook at 7:55 am, Industrial Production at 8:15 AM. FOMC meeting begins tomorrow with the announcement on Wednesday. If we get a negative reaction to the Econ data, price could push through the initial support and tag 1101. I am anticipating a bounce in the 1101-1103 area. A positive reaction could take us to the 1118s; I'm anticipating a pullback there. Bias is bullish above 1101, and bearish below it.
ES - Daily Bar Chart with Volume Profile and Key Levels
Crude (CLF10)
For Crude traders, decent move developing on the hourly chart. Anticipating triangle break-out.
CL - Hourly Chart
Sunday, December 13, 2009
Key Levels & Scenarios (S&P 500) for Monday 12/14/2009
E-Mini S&P 500
I was about to post the levels and the Dubai news hit the wires, spiking the ES up to 1113! I had initially marked 1105.25-1106.75 as initial resistance, and that was promptly changed to read "Prior Resistance = Support", so anticipating a bounce in that area. 1111.25-1114.75 was the Range Extension/Resistance, and 1112.25 was the 100% extension of the swing on the Hourly chart. 1106.25 is currently the Mid-Point, and also the Previous Week's High, so we have some confluence there. Near-term bias is bullish!
Scenario
I'm bullish above 1103.75, and am anticipating a bounce on first touch of each support zone on the way down. Anticipating range-bound action tomorrow as the market digests the latest news. In a range-bound market, I'm looking to go Long at Support and Short at Resistance. Immediate trend is up though, so must be careful on the short side and take profits early and often. Trade well!
ES - Daily Bar Chart with Volume Profile and Key Levels
Crude (CLF10)
For Crude traders, here's how the Hourly chart for CLF10 is working out.
CL - Hourly Chart
I was about to post the levels and the Dubai news hit the wires, spiking the ES up to 1113! I had initially marked 1105.25-1106.75 as initial resistance, and that was promptly changed to read "Prior Resistance = Support", so anticipating a bounce in that area. 1111.25-1114.75 was the Range Extension/Resistance, and 1112.25 was the 100% extension of the swing on the Hourly chart. 1106.25 is currently the Mid-Point, and also the Previous Week's High, so we have some confluence there. Near-term bias is bullish!
Scenario
I'm bullish above 1103.75, and am anticipating a bounce on first touch of each support zone on the way down. Anticipating range-bound action tomorrow as the market digests the latest news. In a range-bound market, I'm looking to go Long at Support and Short at Resistance. Immediate trend is up though, so must be careful on the short side and take profits early and often. Trade well!
ES - Daily Bar Chart with Volume Profile and Key Levels
Crude (CLF10)
For Crude traders, here's how the Hourly chart for CLF10 is working out.
CL - Hourly Chart
Friday, December 11, 2009
Key Levels & Scenarios (S&P 500) for Friday 12/11/2009
E-Mini S&P 500 (March 2010 Contract)
Volume shifted to the March 2010 ES contract towards the afternoon, and going forward, the key levels will be for the March contract. I was busy attending a technology event this evening, and didn't get home till later, which means less time for market analysis. I didn't have much time, but managed to put together some levels for the March contract.
1097.25-1099 is an accepted area at this point, so I'd like to see it hold for continued upside (currently trading at 1100.25). The initial resistance zone is 1103.50-1105.50 and initial support zone is 1093-1094.50. We have a few economic releases tomorrow morning which will probably result in quick volatile moves, so we could blow through the initial support/resistance zones in a hurry. If price is still trading around 1100, I would anticipate a bounce around 1090 and a pullback around 1110, on the econ release move. Make a note of the trend going into the economic release; don't overstay in the counter-trend move - price could reverse again and continue on its original path (trend). As long as you have a plan in place, you won't be shocked/surprised by the moves.
Retail Sales and Import and Export Prices out at 7:30 am (cst). Consumer Sentiment at 8:55 am (cst) and Business Inventories at 9:00 am (cst).
ES - Daily Bar Chart with Volume Profile and Key Levels
Crude (CLF10)
For Crude traders, here's how I'm seeing the levels on the Hourly chart for CLF10.
CL - Hourly Chart
Volume shifted to the March 2010 ES contract towards the afternoon, and going forward, the key levels will be for the March contract. I was busy attending a technology event this evening, and didn't get home till later, which means less time for market analysis. I didn't have much time, but managed to put together some levels for the March contract.
1097.25-1099 is an accepted area at this point, so I'd like to see it hold for continued upside (currently trading at 1100.25). The initial resistance zone is 1103.50-1105.50 and initial support zone is 1093-1094.50. We have a few economic releases tomorrow morning which will probably result in quick volatile moves, so we could blow through the initial support/resistance zones in a hurry. If price is still trading around 1100, I would anticipate a bounce around 1090 and a pullback around 1110, on the econ release move. Make a note of the trend going into the economic release; don't overstay in the counter-trend move - price could reverse again and continue on its original path (trend). As long as you have a plan in place, you won't be shocked/surprised by the moves.
Retail Sales and Import and Export Prices out at 7:30 am (cst). Consumer Sentiment at 8:55 am (cst) and Business Inventories at 9:00 am (cst).
ES - Daily Bar Chart with Volume Profile and Key Levels
Crude (CLF10)
For Crude traders, here's how I'm seeing the levels on the Hourly chart for CLF10.
CL - Hourly Chart
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