NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
Let's take a look at the longer time frames today. CL             made a nice break on the Monthly/Weekly charts and is now in need of a bounce...if you are wanting to catch the bounce I get it...however stay in control of your stops. Take a look at what happened late 2008. That is what we call an account killer. We like a bounce and break of the 76 area for a move to the 70 area. This could take a month or more. Watch for more posts.
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