Is There More Upside to Crude Oil?

No resource is greater in need and shorter in supply than crude oil.

And with the stock market still challenged, crude oil is also gaining trader appeal right now as a viable hedge.

But the key to profitable trades is to be in at the right entry level as well as being ready to exit at the right levels.

So today, let’s take a look at capitalizing on a potential bull market run in the crude oil futures contract (CL) as this week shapes up…

The Crude Oil Trade Setup

Here’s how the chart shows the potential gain in CL setting up…

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

And here’s how I see this week’s developing idea setting up…

The crude oil (CL) hourly time frame is in an up channel, with the market near the bottom of the channel.

If support holds, it is expected the market to push bullish towards the top of the channel at 123.77, about 1,625 ticks above the market.

Entry: Counter trend line break bullish in the buy zone above the bottom of the channel.

Stop: In the sell zone below the low before the entry.

Limit: 123.77 Once or if the market enters into the buy zone.

As long as the market stays in the buy zone, it will be a good idea to turn to the five minute time frame and look for Tunnel Trader / Destination Trader / Chandelier Trader long ideas towards 123.77.

The Bottom Line


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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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