Market news, analysis & forecast powered by

Preview Mode

FM Home
> Retail FX
> Blogs
> Buying Opportunities Continue in Crude Oil

Buying Opportunities Continue in Crude Oil

Wednesday, 21/12/2016 | 14:41 GMT by Nial Fuller
  • Crude oil's recent price activity is an indication that buying opportunities will look to continue moving forward.
Buying Opportunities Continue in Crude Oil
Bloomberg

Crude oil - bullish trend in oil continues

As we discussed in this week’s weekly trade setups analysis, crude oil has been trending higher and we have been looking to buy in line with that trend. As we can see in the chart below, the price of West Texas Intermediate crude oil remains buoyant above the support level at $49.30 a barrel, a level we have been looking to buy from or near recently.

[gptAdvertisement]

From here, we would ideally wait for a clean price-action buy signal before recommitting to a long position, for those not already long. More experienced traders might like to put on a long trade intra-day while the price is still supported at or above the $49.30 level. Look to buy on weakness as long as the trend remains intact.

To unlock the Asian market, register now to the iFX EXPO in Hong Kong.

oil

This article was written by Nial Fuller. Nial is a highly regarded professional trader and author. He is the founder of Learn To Trade The Market, the worlds foremost trading education resource.

Crude oil - bullish trend in oil continues

As we discussed in this week’s weekly trade setups analysis, crude oil has been trending higher and we have been looking to buy in line with that trend. As we can see in the chart below, the price of West Texas Intermediate crude oil remains buoyant above the support level at $49.30 a barrel, a level we have been looking to buy from or near recently.

[gptAdvertisement]

From here, we would ideally wait for a clean price-action buy signal before recommitting to a long position, for those not already long. More experienced traders might like to put on a long trade intra-day while the price is still supported at or above the $49.30 level. Look to buy on weakness as long as the trend remains intact.

To unlock the Asian market, register now to the iFX EXPO in Hong Kong.

oil

This article was written by Nial Fuller. Nial is a highly regarded professional trader and author. He is the founder of Learn To Trade The Market, the worlds foremost trading education resource.

Topics
Community
oil
commodities
Crude Oil
About the Author: Nial Fuller
Nial Fuller
  • 39 Articles
  • 6 Followers
About the Author: Nial Fuller
  • 39 Articles
  • 6 Followers

Most Viewed

Latest News

Education Center

Keep Reading

Trending

More from the Author

Retail FX

Featured Videos

FMLS:24 panel on "Swimming Naked? Liquidity Amid Market Hiccups"

FMLS:24 panel on "Swimming Naked? Liquidity Amid Market Hiccups"

FMLS:24 panel on "Swimming Naked? Liquidity Amid Market Hiccups"

FMLS:24 panel on "Swimming Naked? Liquidity Amid Market Hiccups"

FMLS:24 panel on "Swimming Naked? Liquidity Amid Market Hiccups"

FMLS:24 panel on "Swimming Naked? Liquidity Amid Market Hiccups"

FMLS:24 panel on "Swimming Naked? Liquidity Amid Market Hiccups"

FMLS:24 panel on "Swimming Naked? Liquidity Amid Market Hiccups"
More Videos

  • FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.

    FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.

    FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.

    FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.

    FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.

    FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.

    FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.

    FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.

    FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.

    FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.

    FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.

    FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.

  • Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24

    Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24

    Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24

    Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24

    Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24

    Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24

    Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24

    Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24

    Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24

    Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24

    Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24

    Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24

  • Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights

    Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights

    Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights

    Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights

    Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights

    Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights

    🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner! An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus! Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz #FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity

    🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner! An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus! Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz #FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity

    🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner! An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus! Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz #FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity

    🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner! An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus! Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz #FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity

    🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner! An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus! Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz #FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity

    🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner! An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus! Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz #FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity

  • FMLS:24 | Shaping the Next Era of Financial Evolution

    FMLS:24 | Shaping the Next Era of Financial Evolution

    FMLS:24 | Shaping the Next Era of Financial Evolution

    FMLS:24 | Shaping the Next Era of Financial Evolution

    FMLS:24 | Shaping the Next Era of Financial Evolution

    FMLS:24 | Shaping the Next Era of Financial Evolution

    Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together! Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients. Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights. 👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo #fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech 📣 Stay updated with the latest in finance and trading! Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today: 🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/ 👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents 📸 Instagram: https://www.instagram.com/fmevents_official 🐦 Twitter: https://twitter.com/F_M_events 🎥 TikTok: https://www.tiktok.com/@fmevents_official ▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!

    Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together! Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients. Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights. 👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo #fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech 📣 Stay updated with the latest in finance and trading! Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today: 🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/ 👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents 📸 Instagram: https://www.instagram.com/fmevents_official 🐦 Twitter: https://twitter.com/F_M_events 🎥 TikTok: https://www.tiktok.com/@fmevents_official ▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!

    Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together! Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients. Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights. 👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo #fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech 📣 Stay updated with the latest in finance and trading! Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today: 🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/ 👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents 📸 Instagram: https://www.instagram.com/fmevents_official 🐦 Twitter: https://twitter.com/F_M_events 🎥 TikTok: https://www.tiktok.com/@fmevents_official ▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!

    Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together! Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients. Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights. 👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo #fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech 📣 Stay updated with the latest in finance and trading! Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today: 🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/ 👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents 📸 Instagram: https://www.instagram.com/fmevents_official 🐦 Twitter: https://twitter.com/F_M_events 🎥 TikTok: https://www.tiktok.com/@fmevents_official ▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!

    Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together! Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients. Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights. 👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo #fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech 📣 Stay updated with the latest in finance and trading! Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today: 🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/ 👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents 📸 Instagram: https://www.instagram.com/fmevents_official 🐦 Twitter: https://twitter.com/F_M_events 🎥 TikTok: https://www.tiktok.com/@fmevents_official ▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!

    Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together! Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients. Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights. 👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo #fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech 📣 Stay updated with the latest in finance and trading! Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today: 🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/ 👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents 📸 Instagram: https://www.instagram.com/fmevents_official 🐦 Twitter: https://twitter.com/F_M_events 🎥 TikTok: https://www.tiktok.com/@fmevents_official ▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
See all videos
!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}