Crude Oil Ready to Make a Bullish Move

Two weeks ago, I shared a potential bullish setup for the crude oil (CL) futures market on my TradingView page.

At the time, CL was near a low price and hitting its long term up trend line. But we wanted to see if support was going to hold before looking for long ideas.

Well, it turns out that support did hold, and the CL market was able to break above its short term down trend line.

With the market now in the daily buy zone, here’s how we’re setting up our trading ideas on the hourly chart…

Breaking Into the Buy Zone

Here’s how I see the CL chart setting up for a bullish idea on the hourly time frame…

Hourly Chart of Crude Oil Futures (CL) – Source: TradingView

The CL one hour time frame is in up channel.

It will be a good idea to look for long ideas near the bottom of bullish channel.

Entry: Counter trend line break bullish near the bottom of the channel.

Stop: In the sell zone, below the entry.

Limit: 90.67

As long as the market stays above the bottom of the channel, it will be a good idea to turn to the five minute time frame and to look for Tunnel Trader / Destination Trader / Chandelier Trader long ideas towards the one hour price target.

The Bottom Line

Now, if you happen to prefer stocks over the futures market, my colleague and equities expert Ross Givens been working on a special strategy for identifying great stocks that you might want to learn more about. 

He has come up with a brand new strategy that aims to deliver weekly gain opportunities without ever holding a single stock.

If you’re interested, check out the important P.S. below…

For more on the markets as well as trading education and trading ideas like this one, look for the next edition of Josh’s Daily Direction in your email inbox each and every trading day.

I’ll be bringing you more of my stock and futures contract trading tutorials as well as some additional trading ideas.

And before you go, head on over to the Traders Agency YouTube channel for breaking market news, live trading sessions, educational videos and much, much more! 

Click here now to subscribe!

Keep on trading,

P.S. My colleague and expert stock trader Ross Givens just unveiled his brand new “rapid cash” strategy that is totally market neutral.

It doesn’t matter if a stock goes up or goes down… With this strategy, Ross can set up his trades to win in either direction.

If you want to learn exactly how this works, watch Ross’s on-demand and totally FREE broadcast right here.

Josh Martinez

Josh Martinez

Josh Martinez is an elite Analyst who’s been actively trading the financial markets since 2011. He’s known as one the leading innovative traders in this industry due to his his cutting-edge strategies.

Josh first burst into the scene when he took an initial deposit investment of $500 and turned into over $39,000 in just under 2 years.
Josh’s trading articles have been featured in Your Trading Edge, The FX Street, Trader Planet, Forex Crunch, Trading Pub, and Equities.com.

In addition to trading, Joshua has also trained thousands of traders worldwide. His strategies and systems have helped others find success in the market

Leave a Reply

Your email address will not be published.

Stop wondering what direction the markets are headed! Sign up right now to get Josh’s Daily Direction straight to your inbox each morning before the trading day even begins. Best of all – it won’t cost you a dime.