CL1! Crude Oil Futures – 1D & 4H Technical Breakdown by GOAT
This chart presents a comprehensive multi-timeframe analysis of NYMEX Crude Oil Futures (CL1!), utilizing daily and 4-hour views to outline key technical levels, trend momentum, and potential trade setups.
🟤 Left Panel – CL1! Daily Chart (1D):
Macro Resistance Test: Price is retesting a major descending trendline from the 2022 highs, now acting as a key long-term resistance zone between 75.80–77.00.
Breakout Structure: A strong push from the $62.50 base has created a steep rally, with price entering a historically reactive supply zone.
Rejection Risk: Highlighted red box signals a high-probability reversal zone unless price confirms a clean breakout above trendline resistance.
RSI Observation: Daily RSI near overbought levels (~78), reflecting possible exhaustion and signaling caution for bulls.
🟠 Right Panel – CL1! Intraday Chart (4H):
EMA Structure: Price riding the 21/50/100 EMA cluster with trend confirmation—momentum remains bullish but flattening.
Channel & Pullback Setup: Short-term ascending trendline may act as a bounce point. Failure could shift price toward 71.30 or lower.
Divergence Watch: Bearish RSI divergence forming, suggesting weakening momentum on recent highs.
Trade Zone: Boxed region shows a potential long setup targeting the 75.80–77.00 area with a stop below 71.30, giving a clear R:R window.
📉 RSI Panels:
Daily RSI: Approaching historical overbought levels. Traders should watch for momentum reversal or confirmation through trend continuation.
4H RSI: Divergence vs price highs and loss of recent bullish slope could foreshadow a short-term correction.
🧠 Summary:
Crude oil is at a critical confluence zone, testing a macro trendline on the daily and showing slowing momentum intraday. Price action over the next few candles will likely determine whether we see a breakout continuation toward 80+ or a rejection back toward the mid-60s.
⚙️ Educational chart designed for technical traders – not financial advice.
This chart presents a comprehensive multi-timeframe analysis of NYMEX Crude Oil Futures (CL1!), utilizing daily and 4-hour views to outline key technical levels, trend momentum, and potential trade setups.
🟤 Left Panel – CL1! Daily Chart (1D):
Macro Resistance Test: Price is retesting a major descending trendline from the 2022 highs, now acting as a key long-term resistance zone between 75.80–77.00.
Breakout Structure: A strong push from the $62.50 base has created a steep rally, with price entering a historically reactive supply zone.
Rejection Risk: Highlighted red box signals a high-probability reversal zone unless price confirms a clean breakout above trendline resistance.
RSI Observation: Daily RSI near overbought levels (~78), reflecting possible exhaustion and signaling caution for bulls.
🟠 Right Panel – CL1! Intraday Chart (4H):
EMA Structure: Price riding the 21/50/100 EMA cluster with trend confirmation—momentum remains bullish but flattening.
Channel & Pullback Setup: Short-term ascending trendline may act as a bounce point. Failure could shift price toward 71.30 or lower.
Divergence Watch: Bearish RSI divergence forming, suggesting weakening momentum on recent highs.
Trade Zone: Boxed region shows a potential long setup targeting the 75.80–77.00 area with a stop below 71.30, giving a clear R:R window.
📉 RSI Panels:
Daily RSI: Approaching historical overbought levels. Traders should watch for momentum reversal or confirmation through trend continuation.
4H RSI: Divergence vs price highs and loss of recent bullish slope could foreshadow a short-term correction.
🧠 Summary:
Crude oil is at a critical confluence zone, testing a macro trendline on the daily and showing slowing momentum intraday. Price action over the next few candles will likely determine whether we see a breakout continuation toward 80+ or a rejection back toward the mid-60s.
⚙️ Educational chart designed for technical traders – not financial advice.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.