Tom_Killick

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

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
1009 12 14
Traders,

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,
Tom
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IvanLabrie PRO
a year ago
Excellent Tom, same view once again haha.
I'd like to go long on retrace, here and on XOM, or maybe purchase calls but I'm not an options guy.
+1 Reply
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...

Tom

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IvanLabrie PRO Tom_Killick
a year ago
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.
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Tom_Killick PRO IvanLabrie
a year ago
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. :)

Tom
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Tom_Killick PRO IvanLabrie
a year ago
and yeah, there are some gems in that fund, I will just pick the gems out of the dirt. :)
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IvanLabrie PRO Tom_Killick
a year ago
Gone mining...:D

I think we will have a nice year from now on, lots of big trends starting.
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Tom_Killick PRO IvanLabrie
a year ago
Yeah, waiting for new cycle beginnings where can place long term holds. Lovely
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IvanLabrie PRO Tom_Killick
a year ago
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.
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Tom_Killick PRO IvanLabrie
a year ago
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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IvanLabrie PRO Tom_Killick
a year ago
Not what I meant, rather that it's common to see new trends emerge with new quarters.
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Yahia.Awes
a year ago
Great Tom, I expect a plunge to see new lows more than a rally
Euphoria on it
Reply
_trader_
a year ago
Tom like your work, wish i could do this. Hoping to learn more from you in time. Appreciated :) J
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