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Crude Oil Technical Alert [FuturesTradeRoom]

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CL DAILY - Deep Red Rectangle indicates low - close of downbar providing initial resistance. This area is the first major resistance.

CL 240M - A reversal print is located at $47.20, a close above this area is likely to reverse the polarity and cause shorts to cover/longs to re-enter. This area may also act as resistance. I will be waiting for a close above, or a rejection of this area before trading.

CL 10M - Low Volume Zone range overhead. An approach of this area with low volume is likely to results in a failure to continue higher.


FTR Bruce

PS Be sure to come check out the live automated screenshare at

We will be trading the NY Session but you can join the room now and hang out. I will be managing an automated trading system that is set to Auto-Assist me in my trading. It enters me into trades and I manage them accordingly.

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About the author

Bruce Levy

Bruce Levy is an independent Futures Trader.  He is currently a Level 1 CMT with the Market Technicians Association and subscribes to the recognized methods of Classical Technical Analysis. He specializes in adapting directional outright trading systems to ever changing market environments. The strategy's vetting process involves identifying tradeable patterns through keen market observation, once patterns are discovered they are mechanized for further analysis. Those that meet rigorous criteria are then automated into an algorithm and quantified over a robust data set prior to use in the traderoom.

Bruce shares his extensive work through the FuturesTradeRoom screenshare, his Automated Day Trading Programs are streamed on a 24/6 basis. In addition, the system involves no human intervention whatsoever and the trades are executed on the chart trader for all to see. He also writes a Weekly Futures Market Update Newsletter which focuses on Daily and Weekly chart formations. His analysis includes a unique blend of Volume Profile, Price Action and Classical Technical Analysis.  

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