NYMEX:CL1!   Light Crude Oil Futures
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Crude oil             weekly chart shows price hovering inside the cloud with a negative bias...we have nearly completed the 50% retracement from 26$ to 51$...the big question is will it hit the 61.8% where the lower end of the cloud also exist...any closing below the cloud and its all over for crude.

Long entry only above 45$ on a weekly basis as long as the forward cloud is positive.

We r long now ...TGT price of 60$ Stop 35$
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Hope we close above 46.50 for this week to get some more momentum on the upside....
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Gud week till now...any close above 48 is a bonus....
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Overall a gud week fr crude ..the closing above 50$ would have been the icing on the cake.....some retracement is expected next week which can take it to 48$...
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weekly close above 50$... tats nearly after a year...made a new high this week as compared to last week and we r certainly closing above last week ...we r now changing the initial stop loss to a trailing Stop Loss at 38$ now.....the expected retracement didnt happen this week ..expecting big move next week....
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changing trailing stop to 40$ on a weekly basis
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Gud news frm OPEC on production cut....changing trailing SL to 40.60$ on a closing basis...
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New Higher highs in weekly time frame....looking gud fr 60$ now....shanging Trailing SL to 41.40 on a weekly close.
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