I share my top trade setups whenever I have a big, new idea for the market…
And to invite global comments, I provide the core chart and discussion on my TradingView page.
This week, the crude oil futures market (CL) is pushing back into the buy zone, which could lead to a big upside move.
So, let’s take a look at this market today and see how it’s shaping up…
This Week’s Idea for CL
Here’s how the chart is setting up my trade idea for this week for the crude oil futures market (CL)…
And here’s how I see the trade setting up for this week’s idea…
The CL daily time frame is in a large up trend. The market has hit the up trend line and is starting to push bullish.
The market has broken the short term down trend line and has entered into the buy zone.
It is expected CL will push towards all time highs near price point 147.27, about +4,988 ticks above the market.
It will be a good idea to turn towards the one hour time frame and to look for long ideas in the buy zone.
The Bottom Line
Most people know me as a futures trader, but I also dabble in plenty of individual stocks.
And I have a new way of picking out opportunities in “marked stocks”… To learn more, check out 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.
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Keep on trading,
P.S. Stock markets may be unsettled, or even bearish. But that doesn’t mean that there aren’t opportunities…
All it takes is riding the coattails of a stock after it’s been “marked.”
To learn more about how to identify and trade these specific stock opportunities, click here.
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