{"id":17299,"date":"2021-11-17T13:23:15","date_gmt":"2021-11-17T21:23:15","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=17299"},"modified":"2021-11-17T13:23:15","modified_gmt":"2021-11-17T21:23:15","slug":"crude-oil-futures-market-review-and-daily-chart-analysis-support-and-resistance-levels-11-18-2021","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/crude-oil-futures-market-review-and-daily-chart-analysis-support-and-resistance-levels-11-18-2021\/","title":{"rendered":"Crude Oil Futures Market Review and Daily Chart Analysis & Support and Resistance Levels 11.18.2021"},"content":{"rendered":"

Dear Futures Trader,<\/p>\n

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Get Real Time updates and\u00a0more on our private FB group!<\/div>\n
https:\/\/business.facebook.com\/groups\/1105191589938254\/<\/a><\/div>\n<\/div>\n
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Crude Oil Futures Market Review and Daily Chart Analysis<\/h1>\n
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Looking at both price and time FIB analysis, on the daily crude oil<\/a> chart below (click here for LARGE IMAGE<\/a>) I am showing a potential for crude oil<\/a> to find support and have a short term reversal to the upside. I wont fight the short term trend and will look for a buy signal using 30 minute chart before I jump in front of this downward train…<\/div>\n
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What do I mean by that?<\/div>\n
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Daily chart still showing a good strength on the LONGER term scale ( see both Elliott Wave counts and trend strength). Short term we can see the strong sell of the highs made towards the end of October.<\/div>\n
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I ran both a Fibonacci retracement<\/a> on prices from lows to high, as well as Fibonacci TIME retracement from the time of lows to highs to see the next TIMING window to look at.<\/div>\n
We are getting close to a match on both time and price ( concept I was made aware of by Carolyn Boroden\u00a0Strategies for Intraday Trading Fibonacci Retracements | Fibonacci Queen<\/a>) so I will now look for a bullish trigger in the form of MACD cross over on the 30 minutes chart or possible turning up of RSI on the 30 minutes chart before simply trying my luck…..<\/div>\n
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As always the key will be risk and trade management if\/when set up happens.<\/div>\n
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Keep in mind FRONT month for crude oil is now January! CLF22<\/a><\/div>\n<\/div>\n<\/div>\n
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If you are looking for other reference material please\u00a0contact your Cannon Broker<\/a>\u00a0for lists of solid, informative and helpful trading tomes<\/div>\n
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\"Crude<\/div>\n
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Good Trading<\/strong><\/h3>\n

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.\u00a0 You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.<\/p>\n

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Futures Trading Levels<\/strong><\/h3>\n

11-18-2021<\/p>\n

\"Support<\/div>\n

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\n<\/a>Economic Reports, source:\u00a0<\/strong><\/h3>\n

https:\/\/bettertrader.co\/\u00a0<\/a><\/p>\n

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\"BetterTrader<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc<\/a>. Any statement of facts\u00a0here in\u00a0contained are derived from sources believed to be\u00a0reliable,\u00a0but are not guaranteed as to\u00a0accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own\u00a0judgement\u00a0in trading.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dear Futures Trader, Get Real Time updates and\u00a0more on our private FB group! https:\/\/business.facebook.com\/groups\/1105191589938254\/ Crude Oil Futures Market Review and Daily Chart Analysis Looking at both price and time FIB analysis, on the daily crude oil chart below (click here for LARGE IMAGE) I am showing a potential for crude oil to find support and […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[119,237,67],"tags":[1338,1192,787,357,1270,608,1015,54,94,605,450,290,953,1347,419,509],"class_list":["post-17299","post","type-post","status-publish","format-standard","hentry","category-crude-oil","category-energy-futures","category-future-trading-news","tag-brent-crude","tag-crude-inventories","tag-crude-light","tag-crude-oil-2","tag-crude-oil-and-futures","tag-crude-oil-bounce","tag-crude-oil-chart","tag-crude-oil-daily-chart","tag-crude-oil-futures-guide","tag-crude-oil-futures-market","tag-crude-oil-inventories","tag-elliot-wave-international","tag-energy-futures","tag-energy-futures-outlook","tag-fib-retractment-level","tag-resistance-fibonacci-level"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/17299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=17299"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/17299\/revisions"}],"predecessor-version":[{"id":17300,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/17299\/revisions\/17300"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=17299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=17299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=17299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}