This Week’s Big Idea for Crude Oil

The crude oil (CL) futures market is down this afternoon, but that may be setting up a great entry point for a long idea.

For a while, we were sitting out of the CL market as the price had rallied to the point that the risk was outweighing the reward.

However, CL has since consolidated within an up channel that could be hinting at a return to those recent highs.

So, let’s get right to this week’s idea, which I’ve just published to my TradingView page, to see how we can potentially capitalize on a potential bull market run in CL…

 This Week’s Idea in CL

Here’s how the chart shows the potential gain from the crude oil futures contract (CL)…

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

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

The CL daily time frame is in an up channel, with the market near the bottom of the channel.

If support holds, we will expect the market to push bullish towards the top of the channel price point 123.77, about +1,465 ticks above the market.

It will be a good idea to turn to the one hour time frame and to look for low prices in the buy zone.

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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