Tuesday, December 13, 2016 Morning Crude Comments from MB
Seems like crude gave bulls a gift yesterday giving them an opportunity to buy in regular session. Now bulls need to make higher lows and higher highs. I like fading the resistance zone, starting small at $53.70 adding small at $53.80 and $53.90. Risking .25 on ave to make .75 on ave. I like buying $52.60 small, risking .20 to make .50.
$54.50 (***) Target 3
$54.20 (*) Target 2
$53.90 (**) Top of Resist Zone
$53.80 (*) First Higher Target
$53.70 (*) Resistance Zone Begins
$53.45 (*) Early Pivot
$53.00 (*) First Lower Target
$52.60 (*) Second Lower TGT + Some Support
$52.15 (**) TGT 3 + Better Support
$51.80 (*) TGT 4
$51.50 (***) TGT 5 + Pivotal Support
All the best;
Michael Blythe
Futures Strategist
Hamzei Analytics, LLC
