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cl_f

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CL Contrarian trade setup
USOIL
, 30
Long
USOIL: CL Contrarian trade setup

CL has made a spike low near crucial Long term levels of 51.90. Here is a potential contrarian trade set up with 3x win opportunity , plan being this low should hold for the pullback to be valid, else we should look for a test and break of 51.90 areas

USOIl CL_F crucial zones to watch out
USOIL
, 1D
USOIL: USOIl CL_F crucial zones to watch out

Crude is nearing a very important zone here, Looking at last year's profile, we are appearing near a crucial low volume node ( marked in red zone).we should 1. either have a breakthrough the zone, then we are looking for a serious uptrend here or 2. look for a failure and a reversal from this area back into this years volume areas.

USOIl CL Short Trade Set up
USOIL
, 30 Short
USOIL: USOIl CL Short Trade Set up

Crude we are holding below the 51.5-65 areas (Thats the composite balance areas ), this plays well for shorts to test the 49.90 zones in the coming sessions.

Crude Oil near "D" zone of AB=CD pattern.
CL1!
, D
CL1!: Crude Oil near "D" zone of AB=CD pattern.

NYMEX:CL1! CL Near "D" zone of AB=CD pattern. 161.8% Extension of Fibonacci is @ $ 55+. Watching price action closely for any short trade. Next resistance (If breaks this level) @ $58. First immediate target would be $ 50 (i.e "B" level), If price action says to short.