CL Journal

At least 60? The last time it was $60 was in mid-2015. What in the chart would make you think it is going there unless you are legitimately using a monthly chart. I can see a case for that than. I don't see how oil is very bullish in the near term though, so I'd be wary of holding longs over extended periods. It at best is going to stay in this range. More likely to go lower imo.

 

Down move likely close to being over here in the mid 48's --Staying long.

 

%%
I think it may hit $60; dont know if that is 2017 or not; one year chart is down+50 dma is down + downtrending. NOT a prediction. MODERN TRADER magazine, JUNE issue made a good case/charts for an uptrend or downtrend , TX TEA.......................................................................................

 

Looking good here at 49.37. Staying long.

 

%%
I see your points thur$day down move amen;
DEC 2017 Brent may hit $60/+, NOT a prediction LOL.

BUT since this is mostly CL/TX Tea, i dont see $60 even on the monthly; MODERN TRADER magazine JUNE 2017 noted ,could be a cup with handle buy @ more than>> $50 area, which could help measure move it up to $60 area. But quite frankly, i like/love IBD [Investors Business Daily], but cup with handle is a cash stock pattern, he never noted that in derivatives LOL. NOT a prediction

 

Nice bottom put in here

 

That's what she said.

 

Lol! Hey now!

 

That's what positional bias does, now I know that Buy1Sell2 is very experienced in price action, but that was no bottom (as far as I am concerned anyhow).

 

I'd say it was indeed a very nice bottom:



And today's setups did not disappoint: