CL1!: Important Levels Every Trader Needs To Know #Crudeoil

NYMEX:CL1!   Light Crude Oil Futures
1009 12 14

Some important levels for crude here. As you all know I went long at 45.80's and am deciding what to do on trading next week on whether I will close my position for the time being or not (Due too 200MA and doji top, and stoch divergence situation)

These levels are all key levels and are instrumental to accurate crude oil             trades. I, personally, hope to see a minor pullback off the 200MA, and a reload and uptrend continuation scenario. But I will trade what I see, not what I feel on this situation. I am happy to go short if the right set ups occur. Just as I am happy to go long if the set ups occur. Neither scenario phases me, and being in this range level we have a nice amount of time to think about it.

Best of luck,
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Tom like your work, wish i could do this. Hoping to learn more from you in time. Appreciated :) J
Great Tom, I expect a plunge to see new lows more than a rally
Yeah, agree with XOM.

On retrace, looking to buy APC, ((SHELL, BG GROUP- need to be aware of takeover news of these two...)), HA, XOM, Dominion resources, perhaps some other minor market share contributors...


IvanLabrie TomProTrader
Ah, well, XLE... :D
Check out JVA, I think I caught wave 2 low, of a wave 1 advance, of a new bullish cycle at 4 bucks.
TomProTrader IvanLabrie
Yeah I saw that when you previously said about it, but I forgot to reply to it, sorry about that.

Yeah liking JVA, kind of handy that even if coffee is being hyped up, that technicals can still support a sustainable trade which is handy. :)

TomProTrader IvanLabrie
and yeah, there are some gems in that fund, I will just pick the gems out of the dirt. :)
IvanLabrie TomProTrader
Gone mining...:D

I think we will have a nice year from now on, lots of big trends starting.
TomProTrader IvanLabrie
Yeah, waiting for new cycle beginnings where can place long term holds. Lovely
IvanLabrie TomProTrader
Takes some patience, but worth it...commercials and money managers seem to be willing to take on some new risks with this new quarter. Specially after the FOMC minutes made it clear we won't see rate hikes any time soon.
TomProTrader IvanLabrie
Well I'm a money manager and I'm not taking extra risk!.. Any manager who does is either not a manager, or just inept... Very bad money management..
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