Comments on: /CL Crude Sell Signal Triggered + Additional Price Targets

By: JimG

JimG — Tue, 11 Oct 2022 22:53:37 +0000

In reply to pkm48193. Depressions are the best headwinds for oil prices. I wouldn't write off the risk of a drop.

By: pkm48193

pkm48193 — Tue, 11 Oct 2022 15:14:31 +0000

Release Date Time Actual Forecast Previous
Oct 13, 2022 11:00 ……………………… -1.356M
Oct 05, 2022 10:30 -1.356M 2.052M -0.215M
Sep 28, 2022 10:30 -0.215M 0.443M 1.142M
Sep 21, 2022 10:30 1.142M 2.161M 2.442M

By: pkm48193

pkm48193 — Tue, 11 Oct 2022 15:08:54 +0000

Long crude. Tailwinds from Saudi. Biden can’t reduce the reserve again. It’s depleted.

By: becky

becky — Tue, 11 Oct 2022 14:53:47 +0000

/CL is still backtesting. Below 200 dma

By: michaelbt2

michaelbt2 — Tue, 11 Oct 2022 14:50:03 +0000

Could it be back testing the primary downtrend line? I have price sandwiched between the primary downtrend and the big support/resistance at ~$88.70.

…just another view :)

https://www.tradingview.com/x/LCPVY5qx/

A little difficult to make out but here’s the primary downtrend: https://www.tradingview.com/x/2UVJYKN1/

After reviewing for a few more minutes, with this small thrust down below the primary down trend (although very slight), we now have three touches on an ascending trend line which might help confirm a bullish case (purple stars).
https://www.tradingview.com/x/xPBDkYyN/

… me thinking too deep probably :)