CL Redux

[startraitor]

95-

 

[InvestVision]

short 98.40 , stop: .27

 

[McBet]

Quote from InvestVision:

holding that 95 line just above 2 ticks is epic

Indeed it was as clear an example of technical trading controlling the market as that triple touch of the 6M trendline in ES last summer (around 1040). Now we also have an inverse head and shoulders pattern (another bottom marker) and green shoots of a new trendline.

 

[InvestVision]

stopped

Re Short 98.20

Quote from InvestVision:

short 98.40 , stop: .27

 

[InvestVision]

add 98.35

target: 97.65

Quote from InvestVision:

stopped

Re Short 98.20

 

[EON Kid]

GM All

still more volume in June CL but volume should switch to July CL today

http://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude.html



EIA Petroleum Status Report
10:30 AM ET

FOMC Minutes
2:00 PM ET

 

[JMC]

Good morning everyone. Looks like we've popped above the 100 EMA and found support on the hourly chart.

 

[InvestVision]

http://www.bloomberg.com/news/2011-...-s-fuel-stockpiles-drop-demand-increases.html

Gasoline demand advanced 2 percent to the highest level in a month, the report showed. The Energy Department is scheduled to release its weekly stockpile report today.

“Yesterday’s API numbers signal that things aren’t so bad after all,” said Carl Larry, director of energy derivatives and research at Blue Ocean Brokerage LLC in New York. “The demand numbers were healthy. We’re waiting to see if the DOE report is similar to the API.”

 

[EON Kid]

05/18/2011 10:30 *DJ DOE: US Crude Oil Stocks -0.015M Bbl In Wk; Seen +0.7M Bbl

 

[DonCorleone]

nice up trend so far. anyone have next resistance? i only have R3@101.34