NYMEX:CL1!   Light Crude Oil Futures
160 1 1
The crude rest looks like it will be short lived. After a big bounce Friday we are looking for a breakout to the upside. LESSON...anytime you see a lot of wicks on the candles(see the last three days) it signals a lot of selling or distribution. Once the bulls gain control they can take out the highs and squeeze these late comers. We are on alert for a nice break. Our first target will be the 60 area, then 63. . Keep it on your watch list and stay tuned.
Thanks for the idea and explanation :)
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