CL Redux

i said ouch because i was in a very similar trade

 

ES, CL, and 6E have all hit minor resistance while DX has found minimal support. If these levels hold and CL closes below 79.50 today, it might make for a nice move down to mid 70's, within the next couple of days. I think. Short 1QM @80.125 with a stop @80.80

 

I'm looking for a possible reversal at 81. If it breaks above, then there's no holding this baby back from going higher. If not, we could see this baby in the gutter. Of course, keep an eye out for the equity markets and the dollar (or Euro).

 

3 beautiful red candle on 15 min my guess is 79.30 by 4pm.

 

Good posts fellas. As they say, two heads are better than one. Let's keep the ball rolling.

 

what is this? playing suspense?

I am still waiting for the other shoe to drop.

 

still holding - stop is now at 80.01

 

closing here at 79.39 for +39

 

Yesterdays low is putting up a bigger fight than I'd like to see. Stop moved 79.25

 

We have reached the 1st pivot point but dollar still has room to run my guess is we slice through it with ease