Retrace to 54 likely

NYMEX:CL1!   Light Crude Oil Futures
98 6 3
Pretty self explanatory
Bought May 15 60 puts. Very short time frame but this should come apart after the last push and failure of the 61 level. I would expect a few bad days especially with some help from the EIA and API numbers.
Kissing the trendline goodbye - May 12
The COT this week looks a bit better than last week for the bulls but that doesn't take Thursday and Friday in to account and those are the only 2 days that mattered this week......

Yes I have been looking for a retracement to go long and 54 is my target for that retracement..
Looks like we are going to get it. The fundamentals remain pretty negative so I wouldn't rule out a move to 48 again.
Two days ago he appeared on the chart shooting star, which is a prelude to reverse the trend. A little late to;)
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