fwiw: I've been talking about today as a big-range CL session since Tuesday. No clairvoyance involved... CL has a pattern of behavior where it chops the rollover for a day or two, then makes 300-cent intraday ranges around the first day of new-contract month. At 9:03 this morning I noted that the CL could very well post a 300-cent range today. Current span is 290 cents from hi to lo. It does this almost every month. Keep that fact in mind for next month
Some perspective. Crude Oil WTI March 2011 (CLH11) Daily http://www.barchart.com/chart.php?s...ddindicator=&submitted=1&fpage=&txtDate=#jump Crude Oil WTI March 2011 (CLH11) Weekly http://www.barchart.com/chart.php?s...ddindicator=&submitted=1&fpage=&txtDate=#jump Crude Oil WTI March 2011 (CLH11) Monthly http://www.barchart.com/chart.php?s...ddindicator=&submitted=1&fpage=&txtDate=#jump
interesting observation austin. I would like a 500 cent range today. My afternoon game plan is to watch for the DX to get back above 79.15 and then short the living bejesus out of this thing. If it doesn't happen I'll just sit here and stare outside.
Oh sorry I'm watching DXH1, Once I go to H in oil i do it for the DX as well. Please allow me to fear monger with this daily chart! Notice that little green dot right at the TL, that would be tomorrow's S2 if we we to close here. SPOOKY!!
Here's the cash chart anyway. http://www.barchart.com/chart.php?s...ddindicator=&submitted=1&fpage=&txtDate=#jump Got to go. Great trading to all of you.