I'm thinking it's about time to sell it today. I was disappointed in myself that I didn't place sell orders today near the 3.00 range. Slightly sub 3.00 would have been hit on report release and that would have been the best entry for short today. I think tomorrow it could try to trade above 3.00 possibly up to 3.2 area but I don't think it will hold that level. Expecting 1 more push down, this rise in price I think is possibly due to contract expiration on the front month where all shorts had to cover. Tomorrow, it will have to stand on it's and own, so we'll see. CL has went through the same recently, and after the rise due to expiration, it sold off again, only to resume the move upward, but it did sell off a few $ from the expiration high.
Cruddest
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@ktbaldwin21, here is a link to the updated chart , goodluck
ktbaldwin21
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idk man, it sold off so fast, like pretty much immediately after that last report, gap down Yesterday, didn't fill gap, but traded lower still even after getting pummeled Friday...I think it's possible it puts in a new low before going back above 3.00 unless something major changes with the weather...which I think it's basically going to have to start raining fire at least in the south east US lol. If it goes higher I think everyone is going to be looking at selling it again, so what do you think a 2nd target lower would be and where would be a good spot to sell? I"m thinking anything close to 3.00 I guess so 2.98 to 3.00 would be my guess. The 50% fib of this 3 day move is 2.997 so back to there would be a pretty big move.
ashish.savla.3
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so perfectly forecast any further target ?
Cruddest
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@Ashish.savla.3, i believe its time to recover towards 2.980