Thoughts and #CL_F Levels for Monday, July 13, 2015
CLQ5 swing
bias remains at neutral while above 51s;
however with 51s holding again
during the Sunday overnight (OVN) session and also pre-market odds are favoring
an upside move to at least the first resistance at 53.50-53.80 zone. If above 53.80 today or this week 54.70-55.10 zone will then be on the
radar.
If CLQ5 does push
below 51 I will expect upside to temporarily be negated but even so the downside could be limited to 49.50-47.75 zone which means it will likely be better to consider
new Shorts from higher levels rather than on a break below 51.
Ethan Premock
Futures & Options
Strategist
Hamzei Analytics, LLC
