Oil Short - Possible Completion of Distribution Range Short

Crude Oil FuturesNYMEX

Description

⋅ Oct 19, 2015 8:06 AM

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

⋅ Jan 12, 2016 6:14 AM

Comments

Rookie

⋅ Oct 19, 2015 8:12 AM

A level to watch is the trend line from the previous 240 lows. It was defended once last week.

smitheric1970

⋅ Oct 19, 2015 8:41 AM

Agreed! However, I think we break down below that support within this channel downtrend.

Rookie

⋅ Oct 19, 2015 8:43 AM

Yeah agreed.

Rookie

⋅ Oct 19, 2015 1:15 PM

I must admit I wasn't expecting it to happen so soon. Trend line broken already. Sweet.

moneymaking

⋅ Dec 8, 2015 3:01 PM

Should have looked at this earlier, darn it :(

moneymaking

⋅ Dec 8, 2015 3:00 PM

Whaoo, what an amazing short entry mate. Awesome :)

IvanLabrie

⋅ Dec 8, 2015 1:54 AM

Glad to see the trend goes on. Great job.

smitheric1970

⋅ Dec 8, 2015 2:02 AM

You as well Ivan, your cl chart was golden!

Vit1980

⋅ Oct 22, 2015 9:44 PM

May be like this