Tuesday, November 6, 2016 Morning Crude Comments

One of my ideas triggered yesterday, buying $51.10 looking for a .50 move, and we just barely got that overnight, and this morning Crude is looking weak after making a lower high, now it’s making a lower low as it appears that the $50 price could be tested soon.

I think over $50, and I still have to look to buy dips. My idea for the day is buying $50.20 small and adding at $50.00, risking .25 to make .75.

$51.60 (*) Second TGT + Some Resist

$51.30 (*) First Higher Target + Some Resist

$51.00 (*) Early Pivot

$50.50 (*) First Lower Target + Some Support

$50.20 (*) Lower Target 2 + Some Support

$50.00 (***) Pivotal

$49.70 (**)


All the best;
Michael Blythe
Futures Strategist
Hamzei Analytics, LLC