MCL Oil Futures - Q3 2026 | Day ChartMicro WTI Crude Oil FuturesNYMEX_DL:MCL1!StudyGuideTABreaking the chart into intervals frames the data. A multiple timeframe analysis with color code to differentiate the timeframes shows the fractals and depth of market. Q1 was an accumulation ladder and breakout of a monthly BS level $57.42. Q2 investors wanted to find support while smart investors took some profits. Q3 price action can continue accumulation from the Q2 support which was a 4hr Inv.BS level (unmarked) and a weekly Inv.FS level (marked in solid grey line at $66.83) When a weekly level is tested, a daily support range is expected to form to confirm the direction. When price gained the distribution candles as support by engulfing over them. (Une 30 & July 1 distribution candles form the BS and FS candles which were used as support July 9-10. July 9th and 10 distribution candles now act as the support ladder - BackSide candles have a static expectation to have a strong volatile reaction to price so we look for long wicks to or away from the level creating later F.V.G's and high angle trends to protect the FrontSide candle. The FS candle has a static expectation to support price until the distribution trend can be broken. It protects price from closing below the swinglow of the range. It often causes "consolidation" low angle support trends. Pair these expectations with the July 9th and 10th candles. There is also a weekly FS level in grey just below those daily levels - consider the probability that price action deep dives the daily levels to first test the weekly level because strength favors the higher timeframe. If price does reach the weekly level, did it leave behind distribution candles the price can easily engulf to continue higher or were accumulation ranges left behind which act as resistance to price action? The higher probability sits at $57.42 where the Q1 breakout happened where the Monthly BackSide support level is. Price doesn't need to reach this area though because the accumulation trend forming above the weekly Inv.FS at $66.83. so the real battle falls to the July 10th Daily FrontSide candle supporting price backed up by the weekly FS support which has the price target of $95.60 the Monthly Support acting as resistance.