CL Redux

Quote from NoDoji:

Damn, you're goood!

Knowing you, you were short @ 97.15.

mfbreakout was short @ 97.18

:p :p
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I actually expected it to touch the underside of the hourly uptrend line around .30 or so, so I'm afraid that particular top eluded me.

97.18, eh? ... must be the July contract. :cool:
 
Quote from Visaria:

Should we expect a price reaction to the Venezuelan oil refinery explosion when markets open later today?
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It's been seeming to me like somebody wants to keep it below 100 so as not to exert pressure on equities. But my first thought after hearing this news was it could be the catalyst for oil to finally break par again, especially now that it's above the 200-day.

Above 97.18 is bullish imho.
 
Quote from tomahawk:

... especially now that it's above the 200-day.
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Correction ... sorry, CL is NOT above the 200day. (I was looking at a slightly different MA). In fact the 200-day has been acting as resistance the past 4 days.

Nevertheless, I am still bullish above 97.18. Visaria, hope your short hits target first. :cool:
 
This might be gay but I've gone back to using the PSAR 4 hour against the daily and it has helped me tremendously. Right now it's telling me we are in no mans land. But like TOm said above 97.15 is bullish and below 95 is bearish. Personally I would love it to just chop between 93 and 96 for the next couple of weeks.

I usually try not to pay attention to what is going on Sunday nights but I'm trying not to drink or eat ice cream since I'm going away soon and would like to at least maintain a 4 pack.
 
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