Ape

Crude Reversal Signal?

NYMEX:CL1!   Light Crude Oil Futures
359 0 7
Now don't panic Oil             bulls I'm not saying top is in. But I do think we can all agree that crude is due for a breather after its' near 50% run up from its' lows. This is NOT a good candlestick pattern, and todays' price action after the inventories report was not exactly inspiring me to add longs. It is after all just ONE days worth of price action so we will see what happens. If we do pullback from here I would really like to see $54 hold before the next leg up. But anywhere in that 54-50 range is a healthy pullback for further upside. (I'm still bullish long term)
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