pop_ey_ch

$35 coming days?

Short
NYMEX:CL1!   Light Crude Oil Futures
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2
Looks more bearish than bullish , second ABCD in play which converge with the low support line

Comments

Yes agreed we are already part way there! I see a H&S on the Jan 16 contract that projects a level to the 35 area. IF this contract breaks below 40 and holds just below that level. I have (at least) 2 choices 1) Sell Jan futures and place a stop at 41.00 (note 41 is a tight stop really should be 41.5 or 42 but MM is the key only risk your minimum) or 2) Buy heaps of 35 Jan Puts and sell if they half in value OR sell if the futures hit 36 or below....with a high R/R ratio...If it breaks below 40 it will only take a few days to hit the target...
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