Mid-day Thoughts and #CL_F Levels for Friday, July 10, 2015
Swing bias for CLQ5 is still neutral between 54s-51s and even more so while below 53.55; however if 51 is not breached soon I will begin to favor a swing Long to 54.70-55.10 zone then 56s once/if above 55.10.
CLQ5 does have some room for lower but downside could be limited to 48.50-47.75 zone if 51 is breached before a meaningful bounce which means swing trades on the Long side from here will likely have higher profit potential than Shorts or my interest in Shorts will not come until at or above 54s.
Ethan Premock
Hamzei Analytics, LLC
