More follow through for crude today. We pulled stops up a bit to lock in more profits. Price kissed the August highs and pulled back a bit. However, crude is still strong and is being supported by the energy sector. We expect price to blow through the August highs an continue on to the 52 - 53 area.
The second target was 50.25...it was hit during the globex session. Now are third target is open. Ideally we would like to see it go to the 200 day EMA up around the 56 area but that is a long way away. We will trail the stop to preserve income. I will make another post later in the day.