TomProTrader

CL1!:Price Reaches Resolution,Could See 2009 Demand Level #crude

NYMEX:CL1!   Light Crude Oil Futures
551 6 9
Traders

Oil             hit predicted levels, and we are now effectively in a free fall. I think Oil             has absolutely no where else to go now, but to the 2009 demand level (Lows)

Best of luck,
Tom

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Don't bet your farm on this.
Reply
I wouldn't. A Farm simply isn't worth enough to make lots of profit on this trade.

Joking.
Tom
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Persil TomProTrader
Hello Tom, where is the 2009 demand zone? 37? 33? Thanks!
Reply
Hello Persil.

Since I am unable to answer this with any level of real accuracy, it's easier to simply say that all of that area is "Actionable demand". And the high of the demand zone is simply found by looking at price action at the previous support and how price acted at that level.

Tom
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Note I am short, and short still.
Reply
Persil TomProTrader
Thanks! I too can't see any sign of price trend reversal. More...I believe that Iran's production in January-February will negatively affect the quotation. It may well fall to 32.
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