Crude Oil Still In the Sell Zone?

Following a big run at the start of the year, the crude oil (CL) futures market has pulled back below $100 again in recent weeks.

And during this pullback, the market has seen plenty of bearish trading days and big daily losses. 

However, the market had a big up-day yesterday and is well off of its recent lows.

So, let’s look at the market intelligence and get to the bottom of the market to see where it stands today…

 The Crude Oil Futures (CL) Market Review

Here’s how the chart is setting up for the crude oil futures contract (CL)…

   Crude Oil Futures Contract (CL) Price and Technical Analysis – Source: TradingView

The crude oil futures contract (CL) daily time frame is breaking the up trend line. The market has entered into the sell zone. 

There is a down sub Fibonacci with an extension below the market at price point 87.84, about -853 ticks below the market.  

As long as the market stays in the sell zone, it will be a good idea to turn to the one hour time frame and to look for high prices in the sell zone.

The Bottom Line

There are multiple ways to trade the futures, stock and other markets. We can trade the indexes, both up and down, as well as individual stocks. 

But with inflation on a fast-track, you need to know how to amplify your gains. To see how I do it, check out the link in the 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.

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Keep on trading,

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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

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