CL Redux

Quote from HuggieBear:

its getting to the point where you could just barrel it up and ship it across the atlantic for the premium
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Then get on board. I mean not literally of course, only futures can solve their little oversupply problem. Let them earn more for their hard extraction job!:) You could produce full QM's worth of oil for the current spread - such irrationality is hard to come by in bull markets...
 
50% retracement of the RTH range is 86.50.

tlow, when price breaks through previous R and the 20-bar EMA off higher lows, it's a confirmed reversal, hold for more.

I think I learned that lesson yesterday when I entered a perfectly excellent trade early on and bailed when I should've been adding :p
 
Quote from NoDoji:

50% retracement of the RTH range is 86.50.

tlow, when price breaks through previous R and the 20-bar EMA off higher lows, it's a confirmed reversal, hold for more.

I think I learned that lesson yesterday when I entered a perfectly excellent trade early on and bailed when I should've been adding :p
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Ya, I think I got an ichy trigger finger when I saw price come back down below the .21-.22 level thinking the breakout may have failed.
 
Quote from tlow:

Ya, I think I got an ichy trigger finger when I saw price come back down below the .21-.22 level thinking the breakout may have failed.
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When CL was trading at 140, nobody thought it could drop down to 40. Unlike ES, this damn thing doesn't have any cushion underneath in the form of a government support. Can OPEC print money?
 
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