trade4education

$CL Range Bound for the Unforeseeable Future

NYMEX:CLK2016   LIGHT CRUDE OIL FUTURES
26 0 0
While I am currently short, I see crude oil             bouncing around within this $25 range for quite some time. One good hint on short term price movement are fib lines. I use/rely on fib for this product more than any other I trade. It is my personal opinion that fundamentally $50 is a little high for the high end of the range, but I did not want to rule out excessive speculation to the upside as that is common with this product :)
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