Other Commodities

The daily chart of the continuous CL Crude Oil future shows that price is still testing the median line of the green pitchfork shown a few days ago. Unless we see a clear break above that line, I'm looking for shorts.

The 4 hour chart of the continuous CL Crude Oil future shows that price broke above the blue pitchfork I was using to track price, and now seems to be contained in the lower part of this new green one.

This intraday snapshot of the March CL Crude Oil future shows price is getting close to the upper line of the blue pitchfork, where we should see a large bounce.

The daily chart of the March CL Crude Oil future shows that price is trying to get back above the 61.8% level of the large Fibonacci Fan, after having bounced from the median line of the blue pitchfork.

The daily chart of the March CL Crude Oil future shows that today is represented by a perfect doji, the top of which bounced from the 50% retracement of the recent drop.

The weekly chart of the continuous ZW Wheat future shows that price reached an important level.

The weekly chart of the continuous CL Crude Oil future shows that price reached the target I predicted last week: the bottom of the large wedge. We could see some buying here, but as a wedge is a continuation pattern I expect price to break lower somewhere in the near future.

The daily chart of the continuous CL Crude Oil future shows that price reached the median line of a large pitchfork, and the 38.2% level of a very large Fibonacci fan.

Just after the pits in chicago closed, the daily chart of the continuous CL Crude Oil future shows that price bounced from the confluence of the median line of the blue pitchfork and the bottom line of the yellow channel (the lower line is simply a parallel of the upper one).

The weekly chart of the continuous CL Crude Oil future shows the continued weakness I expected after last weeks bearish outside bar, and still suggests that price is headed towards the lower line of the large wedge.