NYMEX:CL1!   Light Crude Oil Futures
12.8.23 There was an opening price long trade on oil yesterday near the end of that trading day. There was also another chance with an opening price to go along today but at a slightly higher level. that trade would have been an easy trade if you recognized that it had a support it had an extension which was the 1.272.... and then you have a small stop. The market very well could have gone lower but there was enough evidence to take a chance to go along with a small stop because you had a very easy chance of the market moving up a couple thousand dollars or more. on the other hand, as the market moves higher we may find that sellers will step in and it is possible that the market could make a new low. However, It was worth taking a long position if you could do this with a small stop and a nice reward.


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