Good Buy Setup Off Key Level

NYMEX:CL1!   Light Crude Oil Futures
253 7
After the $15 bull run, Crude has been consolidating for the last month or so. Each time its hit the 102.75 level, it has bounced over $5 offering a really good reward to risk play. Key resistance comes in at 107.75, so bears can look to sell here, while bulls can look to get long off the support level trading with the trend.

Only a daily close below 102.21 will give a short term bearish bias.
Still seems to be some more bearish pressure on the commodity. I'll wait till sub 103 before looking to get long which allows for a much tighter stop and a much larger upside.
start of an upside move.......expecting some accelearation
Ryan Tyler danchrispine
Looks like we are going up again :)
2ndSkiesForex Ryan Tyler
Yes, if it can get a good push today - then I think we can revisit the upper end of these ranges
Nice PA action in a channel. Expecting the same reaction from the market
Yep, tis been a good channel to play thus far. Am expecting the trend to continue, especially with more potential chaos in Egypt which should put upward pressure on the commodity.
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