smitheric1970
Short

Oil Short - Possible Completion of Distribution Range

NYMEX:CL1!   Light Crude Oil Futures
1041 9 27
Prices failed to break in to higher range. If prices can close below 4 hr             200 MA, look for a break down below the past 7 week range.

Entry (December Contract): 47.25-47.97
Stop (December Contrat): 48.00
Short Term Target:40.25
Trade closed: target reached
A level to watch is the trend line from the previous 240 lows. It was defended once last week.
+1 Reply
Agreed! However, I think we break down below that support within this channel downtrend.
snapshot
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Rookie PRO smitheric1970
Yeah agreed.
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I must admit I wasn't expecting it to happen so soon. Trend line broken already. Sweet.
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May be like this
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Glad to see the trend goes on. Great job.
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You as well Ivan, your cl chart was golden!
+1 Reply
Whaoo, what an amazing short entry mate. Awesome :)
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Should have looked at this earlier, darn it :(
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