FX.co ★ zunaira7518 | CL/Crude Oil

CL Crude oil Analysis On four hour time frame

On the 4H chart WTI has been stuck in a range since late May. Top at 97.17 red resistance, bottom at 89.73 green support. Tested 97.17 twice in May and got rejected both times. Early June it dumped to 89.73 green support, bounced hard from there.blue 20 moving average on H4 is at 93.52. Price 91.16 is below it sellers still in control for now. Blue support line at 90.07 is holding currently. The 5-6 June candle wicked down to 90.07 and bounced buyers defending this level.If 90.07 blue support holds and price closes above 93.52 blue MA on H4, then buyers can push for 97.17 red resistance. If 90.07 breaks with H4 close below, then next targets are 89.73 green and then 87.19. H-1 chart

1H chart shows the chop. Price bounced from 86.46 green support end of May and rallied to 96.05 red resistance. June 3-4 it got rejected at 96.05 and now testing 90.07 blue support again. Blue 20 moving average on 1H is at 92.74. Price 91.13 is below it. Red resistance on 1H is 96.05. From June 1-6 price chopped between 90.07 blue support and 92.74 blue MA.so 1H is stuck between 90.07 blue support and 92.74 blue MA resistance. No trade in the middle. If 1H closes below 90.07 then sellers push to 89.43 blue and 86.46 green. If 1H closes above 92.74 after holding 90.07, then buyers go for 95.00 and 96.05 red resistance. 15 minute time frame

15m shows the exact dump and bounce. Red resistance at 95.09-95.94. Price topped there June 3-4 and dumped to 90.07 green support on June 6. Blue 20 moving average on 15m is around 93.07. Price 91.02 is below it. Yellow resistance on 15m is 93.06. Green support is 90.07-90.21 zone. On June 6 price wicked down to 90.07 green support and bounced. You can see the chop since June 3 between 93.07 blue MA and 90.07 green. 15m is trapped between 90.07 green support and 93.07 blue MA resistance. If 15m closes below 90.07 then price drops to 89.43. If 15m closes above 93.07 after bounce from support, then price moves to 95.09 red resistance. My trading thought don’t short at 91.02 right above support with no confirmation. Don’t long at 91.02 in the middle with resistance at 93.52 above. Middle trading burns accounts.For buying setup wait for price to come to 90.07-90.21 support zone and show buying pressure. If 15m makes bullish candle and then 1H closes above 92.74 blue MA and H4 holds above 90.07, then buy with stop loss below 89.00. First target 92.74 on 1H. Second target 93.52 on H4. If 93.52 breaks on H4 close then add more for 97.17.For selling setup wait for price to close below 90.07 on 15m and below 90.07 on H4. After close wait for retest of broken support as resistance. If price fails at retest then short with stop loss above 91.50. First target 89.43 on 1H. Second target 87.19 on H4. If 87.19 breaks on H4 close then add more. Key point resistance: 92.74 1H blue, 93.07 15m blue, 93.52 H4 blue, 95.09 15m red, 96.05 1H red, 97.17 H4 red Support 91.02 current, 90.21 15m blue, 90.07 H4/H1/15m blue-green, 89.43 1H blue, 89.73 H4 green, 87.19 H4 green