CL Redux

BEC, what ya been inhaling lately? Share the love bro. Very nice trading.

So does anyone have an upside target? We hit the damn TL on th daily today. Should we pierce above that line tomorrow, that will flush out any remaining stubborn bears. 107 for anyone?
 
Quote from schizo:

BEC, what ya been inhaling lately? Share the love bro. Very nice trading.

So does anyone have an upside target? We hit the damn TL on th daily today. Should we pierce above that line tomorrow, that will flush out any remaining stubborn bears. 107 for anyone?
More...

Given the close today is off the high, and that the second attempt up from 1 to 2 was miserably weak, I expect a close below 96 tomorrow, though we will likely try to poke above 96.

That being said, I would not be surprised to see 100 sometime next week, being the effective median of the May range. But if we do, I expect to turn south from there, and would not place any long term bets on seeing anything above 103. I think we will see 80 before we see 107. How's that for bold predictions?
 
Quote from schizo:

So does anyone have an upside target? We hit the damn TL on th daily today. Should we pierce above that line tomorrow, that will flush out any remaining stubborn bears. 107 for anyone?
More...

Price hit the 20-day EMA on the daily chart, which also happened to be right around the previous support area.

It's a spin of the roulette wheel from here. If an upside break occurs with some conviction (as in "clears the 96.00-97.00 congestion area"), then 100.00 is back in play.

If there's a failed breakout or a failure to even try to break today's high, then we must wait for Goldman Sachs' analysts to provide guidance, because they already told us what a bargain oil was back when it was trading in the upper 90's :p
 
Quote from NoDoji:


If there's a failed breakout or a failure to even try to break today's high, then we must wait for Goldman Sachs' analysts to provide guidance, because they already told us what a bargain oil was back when it was trading in the upper 90's :p [/B]
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:D
 
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