Re: Crude Oil (CLK16) .. next move?!

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In Response To: Re: Crude Oil (CLK16) .. next move?! ()

CCI Futures: Re: Crude.

The number that I have been seeing all over the internet has been $40.00. That is the number when the big money will start to get back in on the long side. Well the market is above that number right now and looking pretty strong. The resistance in my view is 42.50, which was tested today and has held so far. I do not think this will be the end of this move more of a pausing point for a small pullback. I like the long side of the market at the 38-37 level on a pullback. If the pundits are correct and the big money is starting to get into the market on the long side, this will have a good bit of room to run over the summer months. We are approaching the high demand time of year for crude oil, which should add more momentum behind this move.