CL Redux

schizo, from year chart, it is still pointing up. the range is too wide, around 12~15points

Quote from schizo:

We CROSSED AND CLOSED below the major trendline extending back to the April 2009 low (or is that March, I can't remember and too damn lazy to open the chart). As such, we're now officially in the bear country as of today. Rather than buying the dips, it's probably better to sell the rips from here on out.
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Quote from trader198:

schizo, from year chart, it is still pointing up. the range is too wide, around 12~15points
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You are right and to this we have to add that historically speaking the coming months is when Oil make new highs and spikes, usually April and October are the bottoms. WE will see Oil in 90 before the end of the summer.
 
Guys I am bullish today, but for the ones of you who are bearish today look very careful at 76.58 is the VAL in my Market Profile it's finding some support in there, if it breaks down the number after openinng it will be a good entry point in the down side.

Good luck.
 
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