FX.co ★ zunaira7518 | CL/Crude Oil

CL Crude Oil analysis . On four hour time frame

On 4H chart WTI pumped to 97.44 then hit a brick wall at red resistance 93.72-93.89. That double red line rejected price 3 times. After that sellers took over and dumped it down. Blue 20 moving average on H4 was at 92.00. Price 90.24 is below it now. Green support on H4 is 86.60 but immediate support is green lower Bollinger Band at 90.00. Price is literally sitting on that BB right now. BBs are wide after volatility.If 90.00 holds and price closes above 92.00 blue MA on H4, then buyers can push it back to 93.72 red resistance. If 90.00 breaks with H4 close, next stop is 86.60 green line. H-1 chart

1H chart matches H4. Red resistance at 93.00 and 90.60. Price tried 90.60 but couldn’t hold it. Blue 20 moving average on 1H is at 91.97. Price is below it.Green support on 1H is 90.02 to 90.24. Current price 90.24 is right at that level. You can see a long wick touching 90.02 on the chart. That means buyers are defending 90.00 for now. But price can’t close above 91.97 moving average yet. Every time it tries, sellers dump it. So 1H is stuck between support 90.02 and resistance 91.97. No trade in the middle. If 1H closes below 90.02 then sellers push to 86.60. If 1H closes above 91.97 after bounce from support, then buyers go for 93.00 red line. 15 minute time frame

15m is even tighter. Red resistance at 97.17 and 93.63. Price rejected hard from 93.63. Blue 20 moving average on 15m is at 90.60. Price is below it. Green support on 15m is 90.02 to 90.24. Price just wicked down to 90.02 and bounced a bit. Current price 90.24 is right above that green line. That wick shows buyers are active at 90.00 level.15m is trapped between support 90.02 and resistance 90.60. If 15m closes below 90.02 then price drops to 89.00 and 86.60. If 15m closes above 90.60 after bounce from support, then price moves to 92.00 and 93.63. Trading plan Simple rule. Don’t short at 90.24 right at support with no confirmation. Don’t buy at 90.24 in the middle with resistance at 91.97 above. Middle trading destroys accounts.For buying setup wait for price to come to 90.00 to 90.24 support zone and show buying pressure. If 15m makes bullish candle and then 1H closes above 91.97 moving average and H4 holds above 90.00, then buy with stop loss below 89.50. First target 91.97 on H1. Second target 92.00 on H4. If 93.72 breaks on H4 close then add more for 95.64.For selling setup wait for price to close below 90.00 on H4 and below 90.02 on H1 and below 90.02 on 15m. After close wait for retest of broken support as resistance. If price fails at retest then short with stop loss above 90.60. First target 89.00 on H1. Second target 86.60 on H4. If 86.60 breaks on H4 close then add more. Main point resistance: 90.60 15m, 91.97 H1, 92.00 H4, 93.00 red, 93.63 red, 93.72 red, 95.64, 97.17, 97.44 Support: 90.24 H1 15m, 90.02 H1 15m, 90.00 H4, 89.00, 86.60 green