CL -- March 18, 2026
BULLISHCrude Oil -- NYMEX
How To Use This Archived Analysis
Use this page during review when you need a structured read on levels, event risk, and the specific mistakes this market snapshot could trigger for prop-firm traders.
What This Page Will Not Do
This analysis is not a trade signal and it does not know your live account state, size, or psychology. Use it as context and risk framing, not as an instruction to enter.
Summary
WTI crude oil is trading at $78.40, supported by OPEC+ production cut expectations and Middle East supply concerns. The API inventory report after the close will be the next catalyst. Oil is in a bullish trend on the daily chart, making higher lows since February.
Trading Notes
OPEC+ meeting next week may extend production cuts. This is providing a bullish floor.
API inventory report at 4:30 PM ET. A draw of 2M+ barrels would be bullish.
The $80 psychological resistance has capped 3 rally attempts. A break above would be significant.
Oil seasonals turn bullish in late March as refiners ramp up for summer driving season.
Prop Firm Warnings
CL moves $1,000 per point per contract. A $1.50 move against you is $1,500. Size conservatively.
Oil inventory reports create 50-80 cent moves in seconds. Do not hold through the report unless your account can absorb the move.
Apex and TopStep: CL margin requirements are higher than ES. Make sure you have sufficient buying power.
Suggested Strategy
Bullish bias. Buy pullbacks to $77.80-$78.00 with stops at $77.30 ($0.50-0.70 risk = $500-700/contract). Target $79.20, then $80.00. Close or tighten stops before the API report at 4:30 PM.
News Impact
| Event | Impact | Time |
|---|---|---|
| API Weekly Crude Inventory | high | 4:30 PM ET |
Key Levels
| Level | Price |
|---|---|
| R1 | 80.85 |
| R2 | 80.00 |
| R3 | 79.20 |
| PIVOT | 78.50 |
| S1 | 77.80 |
| S2 | 77.10 |
| S3 | 76.40 |
Risk Level
moderate
This analysis is AI-generated for educational purposes only. It is not financial advice. Always follow your prop firm's specific rules and consult with a qualified financial advisor before making trading decisions. Past performance does not guarantee future results.