Monday, December 19, 2016 Morning Crude Comments from MB
I don’t have an early pivot to set bias today. I like selling $53.00 on a bounce and adding at $53.20, using a .25 stop to earn $1.00. I think buying $52.13 with a .20 stop to make .50 is a fair trade.
$53.40 (***) Third Higher Target + Better Resist
$53.20 (**) Second Higher Target + Good Resist
$53.00 (*) First Higher Target + Some Resist
$52.13 (*) First Lower Target
$51.85 (*) Lower Target 2
$51.57 (**) Third Lower Target + Better Support
$51.11 (***) Pivotal
All the best;
Michael Blythe
Futures Strategist
Hamzei Analytics, LLC