CL Bearish Outlook

20 Oca

Look like after price took out BSL at the PDH from 80.16 it has moved lower and has been targeting PDLs. There is a nice discount D BISI that I believe price will trade into and if price is truly Bearish then it will trade right through the D BISI CE level and find minimal support and then the next area of focus could be the double bottom at 72.70

Lets continue to watch price and see how it delivers.

20 Oca

İşlem aktif

I want to see how price trades to the 75.25 CE level of the D BISI which is also where coincidently the previous D Price Imbalance was. Great work on the Bias so far!

21 Oca

Not

Great work the 75.25 level in discount was hit with precision! I still believe that CL could drop lower and the next area of discount that price could draw into is the the PDL from Fri 10 Jan 2025 at 74.02 which is also in CP to the Volume Imbalance.

23 Oca

Not

Price has created a recent D SIBI by trading higher and respecting the D BISI high at 76.55 which if you notice the high of the candle from Wed 22 Jan 2025 is 76.45 which makes the differential about .10 More importantly notice where price closed right in the LV in close proximity to the D BISI 50% CE level at 75.25

Moving forward I will still adopt the Bearish Bias with expectations on price to trade lower and take the PDL out from Tue 21 Jan 2025 at 75.05 and then continue to push lower into the D BISI. I want to keep a close eye on how price behaves around the CE level of the D BISI and continue to watch and see how it will gravitate or draw to the 74.02 SSL from the Fri 10 Jan 2025 PDL.

I do see price retracing possibly to retest off the premium D SIBI possibly by Friday if not then next week as price has been Bearish for some time and a retracement is expected.

Wish you all Prosperity & Peace...