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This Week’s Big Idea for Crude Oil Futures

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.

After falling below its longer term up trend line briefly last week, the crude oil (CL) futures market is bouncing back in a big way.

If the right technical conditions are met, another leg to the upside could be in store.

So, let’s take a look at this market today and see how it’s shaping up…

Crude Oil Coming Back

Here’s how I see the CL chart setting up for this week’s idea…

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

The CL daily time frame is in an up trend. The market is at a low price hitting the up trend line.

However, it will be a good idea to wait for the market to push bullish and close above the short term down trend line.

Once that happens, we can start looking for long ideas off the one hour time frame.

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 I have been working on a special strategy for identifying great stocks that you might want to learn more about. 

If you’re interested, check out the important 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.

I’ll be bringing you more of my stock and futures contract trading tutorials as well as some additional trading ideas.

And before you go, head on over to the Traders Agency YouTube channel for breaking market news, live trading sessions, educational videos and much, much more!

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Keep on trading,

P.S. I have been working with my team to find what I call “marked stocks.”

These are stocks that are potentially setting up to generate big gains… And you need to get in on them with me.

To learn more, click here!

The post This Week’s Big Idea for Crude Oil Futures appeared first on Josh Daily Direction.

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