CL Redux

Yes I miss a lot but also don't post everything.

 

Are you guys leaning long (retest of 78) or short (back to open 76.80-77.00)?

Or ultra-short (retest of lows at 76.00)?

 

Is there something weird with this HOD or is it just me?

Edit 19:57 WTF???

Edit 20:02 No, seriously, WTF???

 

yeah it's been a very choppy grind up, it sorta kinda feels like a shorting opportunity is coming up

 

I did not see your post until now, but this is what I think for the following days, ES is painting an outside reversal day, all through the ES down move Cl held up in the 76 to 78 range so an upside breakout & continuation with ES seems likely.


A ES measured move or to the top of this channel, link from Anek

http://www.elitetrader.com/vb/attachment.php?s=&postid=2895570

 

Storm upgraded to 60% chance of cyclone, but it seems to be moving away from rigs:

http://www.nhc.noaa.gov/

 

Thanks Kid, much appreciated

 

Did anyone get last night's API numbers?

 

Yes here they are:
A.P.I Reports: 7.20.10

Crude: ↘ 240 K

Cushing: ↗ 685 K

Gasoline: ↘ 412 K

Total Distillates: ↗ 980 K

Refinery Runs: ↗ 1.6 % to 88.7 % vs. 87.1 % from a week ago.

Crude Imports: ↗ 124 K

I honestly believe that report are bullish, but if by any means we get just a little bit under expectations for DOE today, we will see a big sell off.

 

Very bearish report, but again ES seems like is making a comeback, plus the storm, maybe 76.82 was the bottom. Looking for 77.55 for a confirmation for the upside.