My Prediction For Oil

[chewbacca]

Quote from joeyata1:

are the cl's crude futures? i've traded the qm's but they only go out 4 -6 weeeks which sucks. can anyone suggest a longer term electronic crude contract as i'm not interested in pit traded crude

Just curious as to why you're not interested in the pit traded contract. I don't like the QM for the same reason you mentioned. Are the commisions for the pit traded contracts too much or is slipage the problem?
I want to trade gold and oil futures for a hold time of 6 monthes+ - what's the best way to do it?

 

[chewbacca]

Quote from lolo24ca:

hey guys

Well base on my chart, I think oil will go down $2.00 more to 55.70... I went short at $58.98...hope I' m right


what do you think ????

The chart shows a parabolic down trend for the past couple of monthes. With that kind of momentum, I think crude will break 50. A false break, as I think a lot of the long term players will defend it very aggresively at that level. Key fibbi retrace level.