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)…
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…
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The post Crude Oil Still In the Sell Zone? appeared first on Josh Daily Direction.
