3.22 on 1/22
2.55 on 1/23
2.06 on 1/26
1.74 on 1/27 today.
Note also how crude hasn't been overbought since September using 11-day .
There are divergences on this test of the early January low and anytime the market can lift from a divergence means there could be a lot of stops just over the market. I would exit when reaches +100 and save some longs for when it gets to +200.
I know I'm going to get plenty of "hate" replies for this idea, but even if I lose on this trade I will win with lower heating oil and gasoline prices at the pump. So, view this as a hedge if you have to. Or view it as a "free trade".
Tim 6:09PM EST 1/27/2015 45.67 last on CL1! (Front Month Crude )