Wednesday, August 5, 2015

Thoughts and #CL_F Levels for Wednesday, August 5, 2015

Thoughts and #CL_F Levels for Wednesday, August 5, 2015SocialTwist Tell-a-Friend

CLU5 mainly traded sideways yesterday and with index futures already having a big move in the overnight/premarket session CLU5 may be the better one to trade today over equity indexes; unless trapped index Longs use this morning's rally to sell. If CLU5 does have good movement today I will expect either an upside move (with legs) above yesterday’s first resistance at 46.65 or a move (with legs) below today’s first support at 45.70.

If above 46.65 the first upside target is at 47.30-47.40 zone or if below 45.70 the first lower target is at 45.00 then 44s.

Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC

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