NYMEX:CL1!   Light Crude Oil Futures
CL             could break this week. Take a look at your weekly charts. Price keeps bumping up against the upper resistance. This is on our "watch closely' list.
Getting good support today...
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OffTheFloorTrader Justiceisfalse
It's a mess since it's back into the range. We will have to continue to be patient. Stay tuned.
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what else is on the watch closely list?
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OffTheFloorTrader CoreyInvesFB
Thanks Corey...we are watching the E61!, ZC1!, CL1! and the J61!. Hope it helps.
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watching and waiting :)
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We agree...patience is the name of the game.
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THANKS FOR UPDATE, WILL IT BRAKE PREVIOUS LOW?
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Great question....it very well could but that would be a guess at best. Since we have fallen back in to the range today it is a coin toss. We are favoring the long side but will need to see a close above the pattern before we look for a trigger long. We are very patient and will wait for good confirmation.
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going lower
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The March contract is breaking out...that will most likely drag the continuous contract with it. If we close above the area then it will be time to look for triggers long. If price falls back in the range then it will most likely be a shake and bake fake.
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