Friday, December 16, 2016 Morning Crude Comments from MB

Volume finally moving into the Feb contract with the overnight volume slightly higher than the Jan. So all levels are CLG7 now.

I like buying $51.60, risking .20 to make .50 or selling $52.88, risking .20 to make .50 and selling $53.15, risking .25 to make $1.00

$53.18 (***) TGT 3 + Resist

$52.88 (**) TGT 2 + Resist

$52.55 (*) First Higher Target + Some Resist

$52.36 (*) Early Pivot

$51.97 (*) First Lower TGT

$51.58 (**) TGT 2 + Support

$51.10 (***) TGT 3 + Support


All the best;

Michael Blythe
Futures Strategist
Hamzei Analytics, LLC