NYMEX:CL1! Light Crude Oil Futures
49 was a great place to short. I do not believe prices will go higher than 50.3 if they do rise again. I believe prices will either break below 43.4 and then continue down to new lows or... It's possible that prices will retrace to 49-50 after the 17th (Fed interest rate announcement) at which point I would short 49 again. So... I will either short at 49 or 43.4. It is very difficult to determine how prices will act short term but long term, I still believe we will reach mid 20's.