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If it breaks down further i'll go long at 8210-8220 area

Looking now I see 8290 was the 50day ma

That was exciting. went from +1k to 0 to +800 should have slept in

To me the overnight high has to get taken out to remain bullish. If so im looking for 8525

It looks like everyone is waiting on the number with a miniumal amount of buying. It doesn't look like a big move is going to happen prior too.

I will agree its bearish if today closes out with a 1.00 range or closes lower. But if we get a lower close it will have to take out low of week by eow.

I agree. Usually the api rally was a smaller than expected build but still a build. If its a draw 2morrow I would expect a rally. If there is a build in cushing they might fade the pop. Ill probably carry just one contract into it, see what the action is prior. gnight

Look for large volume 5minute bar for intraday tops and bottoms.

The fundementals have been bearish for a very long time. Since 7000. I didn't know if someone was seeing a technical reason for a breakdown.

Not sure where you got your info from but here are the numbers cross referenced against 2 sources: API reported a draw of 741,000 barrels of crude oil this afternoon. Estimates for tomorrow’s inventory report are for a draw of 750,000 barrels of crude oil and for refinery utilization to...

Im not sure how you guys see it as being bearish. Yesterdays high got taken out 2day. Selling came in the last 3minutes of pit to keep it from closing above 8400 which would have been bullish. Im expecting 8500 at least this week, from there it could trade back down. Last night and tonight so...

Anyone have api #'s yet?

You could put a spread against it. Thats probably the only action long dated ever see.

Load up:D

Tradestation and Turbo Trader both show vol right now @ 22839 CME same area: http://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude_quotes_globex.html

Im seeing 22k vol. its sitting at hod right now

May expires today and there is still alot of activity in it, could be bullish or bearish. Im looking for 8500 close today

You might want to trade June contract since May expires today at 2.30

Couple contracts for sale at 83.48 about 1170 of them. Could be trying to shake weak longs or someone wants to see prices lower

9000 damnit:D .. Looks correct the 8375 call though.