NYMEX:CLQ2013 LIGHT CRUDE OIL FUTURES
Entered too early and got stopped - Retry tomorrow. The market could start a sharp sell off on the 2nd or 3rd of July. 96.00 would be my entry point with first target objective 91.50. Crude Oil has retraced to an interesting Fib level from the last low (92.67) and is currently trading close to the downward sloping upper parallel. 'Voices' that the market is over supplied. Weekly chart snapshot here A video from the Commodity week in Dubai to make it more interesting http://marketing.platts.com/content/ACEM201306-commodity-week-dubai?mvr=vancw&sf449684=1
Well, here we observe another breakout of pitchfork's resistance. I am always curious why pitchfork is a popular charting tool that every charting software offers it. To me, it's essentially a limited channel tool, but looks very nice without doubt. Anyway. /CL reached its peak today IMHO, and I opened short.