CL Redux

long .06

 

Short 10.08's

 

out at 9.40's

 

Wtg - Nice one.

 

Thanks I saw volume come in at the high at 10.40's, but at the time I didn't have a clean TL to watch for a break. When the triangle formed though I knew I had a clean set up.

 

out 109.55

here we have mini drop rallies after pit close

 

Nice chart.

 

This daily chart shows $108 is the first base to touch , so it seems all the big guys are in hurry to short to catch the big move down , this may be the reason we did not see any retrace today .

Here is my take :
- the $108 DOJI close bars is where the close is on APRIL 4 and 5 th .
- OIL touching $108 ( intraday ) seems priority , before we see any daily CLOSE GREEN bar ( CLOSE basis ).
- if other market conditions ( stocks , currencies ) co-operate , we can see intraday $106 in next 2 to 3 days then snap back to $110 next day when everybody is caught up in the short hysteria
( CL PUMP & DUMP pattern )


http://bit.ly/h4sAhu

 

I would say we should drop to somewhere between 106.50 and 107 tomorrow.