I'm looking to go long the December 2017 contract if we hit the target specified on chart. I'm not detailing the money management or the trade plan here, I reserve that to my clients, but we could certainly see a bounce very soon, but we need a flush of weak longs to achieve sufficient negative sentiment for a bottom. I was expecting a faster rally, but that...
Okay 1hr fib has been retraced to the 61.8%, At the current time of publishing stochastics oversold on the 15 minute, overbought on the one hour. This could hold at $44.72 and go lower but we do have a channel support half way into the channel. Waiting for volume to show the direction of the market.
Alright this is a real nice short I was away from the market took some really good profits on oils failure to move higher on news. These prices are major S/R points that intersect with Old very valuable fibs usually a great profit target. Look for a pullback and enjoy the ride. may also reverse at these levels.
Good short lined up, ready for a continued push to the downside. Be careful during news at 10:30am EST
Nice short lined up ready to break. We could have a nice profit taking pullback down to some previous Resistance could go lower on news.
Healthy pullback waiting to happen will pull back a few cents to the downside, resistance below 15 minute looks setup well, stop loss 20 to 30 cents depending on your risk