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

Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

Trouble Ticket Forum Policy

Return to Index

TFC Commodity Trading Forum

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.