TomProTrader

CL1!: Lower Prices Could Be Seen, Are We Drowning In Oil? #Crude

NYMEX:CL1!   Light Crude Oil Futures
476 1 10
Traders,

Seeing genuine bear continuation despite being below 2009 levels. Due to the trend and the technical circumstances I'm seeing, I think we really could genuinely see lows as low as 22. Technical have been slightly ignored recently. As the only long term target which had any vigor, has been totally ignored. Fundamentals are driving this Oil             market now, and it is all human emotion and price approximations now.

When trading this it is worth watching USDCAD             with this trade, as they will inevitable move with each other, in opposing directions to each other.

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Thank you.

Best of luck
Tom
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I'm willing to long usdcad if it gives a nice entry. It breached my quarterly resistance. Technically it's due for 1.53.
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