NYMEX:CL1!   Light Crude Oil Futures
Crude is approaching a major support area $48-$50. We are very interested in this area. WE WILL NOT have a resting order in the area. We will watch the level first then find a shorter time frame trigger to get long for a bounce. Keep in mind we are not anticipating a major bounce. The way things are going at OPEC we expect price to stay fairly low for the next 12-24 months.
Finally someone with some sense. Everyone is trying to find a bottom for a major reversal. This will not reverse for at least a year, unless the OPEC comes out and says they'll decrease production, or something else happens on that line.
+2 Reply
Thanks adxrsi...great minds think alike. ;)
+1 Reply
aziz92 adxrsi
This. It doesn't make sense for them to drop the price so much, only to have a major reversal back to 80s.
They won't take to 80, at least not for a while. It will either chop around this are or drop a little further and then chop. We are looking 12-24 months before Crude sees a sustained rally.
Will Wong OffTheFloorTrader
Heck if gold can have a bear trend for three years, oil can certainly do too for a couple of years!
You are correct. Trade well.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out