Thoughts and #CL_F Levels for Monday, July 13, 2015

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CLQ5 swing bias remains at neutral while above 51s; however with 51s holding again during the Sunday overnight (OVN) session and also pre-market odds are favoring an upside move to at least the first resistance at 53.50-53.80 zone. If above 53.80 today or this week 54.70-55.10 zone will then be on the radar.

If CLQ5 does push below 51 I will expect upside to temporarily be negated but even so the downside could be limited to 49.50-47.75 zone which means it will likely be better to consider new Shorts from higher levels rather than on a break below 51.

Ethan Premock

Futures & Options Strategist

Hamzei Analytics, LLC

Mid-day Thoughts and #CL_F Levels for Friday, July 10, 2015

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Swing bias for CLQ5 is still neutral between 54s-51s and even more so while below 53.55; however if 51 is not breached soon I will begin to favor a swing Long to 54.70-55.10 zone then 56s once/if above 55.10.

CLQ5 does have some room for lower but downside could be limited to 48.50-47.75 zone if 51 is breached before a meaningful bounce which means swing trades on the Long side from here will likely have higher profit potential than Shorts or my interest in Shorts will not come until at or above 54s.

Ethan Premock

Futures & Options Strategist
Hamzei Analytics, LLC

#PreMarket Thoughts and #CL_F Levels for Thursday, July 9, 2015

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Yesterday the low 51s was mentioned as a potential support area for CLQ5 and while above a bias will be more on the neutral side while also holding below 54s.

Now that CLQ5 closed above & now trading well above 51s odds favor potential bullish follow through as long as remaining above 52.25-51.45 zone, and while above 51.45 upside targets are at 53.90s then 54.70-55.10 zone.

Once/if upper targets are reached there will still be potential to Short lower high formations anywhere below 56.05-57.30 zone.

Ethan Premock

Futures & Options Strategist

Hamzei Analytics, LLC

#PreMarket Thoughts and #CL_F Levels for Wednesday, July 8, 2015

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Bias for CLQ5 is now Neutral after reaching the 51s target which now has a first support at 51.15. While above 51.15 the neutral bias will remain until at least pushing and holding above 54.45. If above 54.45 there is still a good amount of resistance at the 56.05 to 57.30 zone before considering a macro bullish bias.

If 54.45 contains CLQ5 upside (or while holding below 53.10) there is still potential for lower and if so 49s then 47s will become the next potential targets.

Ethan Premock

Futures & Options Strategist
Hamzei Analytics, LLC

#PreMarket Thoughts and #CL_F Levels for Tuesday, July 7, 2015

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CLQ5 is getting extremely close to the 51s target and while below 53.75 or below 54.40-54.70 zone as line in sand (LIS) 51s will likely get reached sometime today.

If above 54.70 there is still a good amount of resistance from 56.40 to 57.30 to get through before considering a macro bullish bias. If below 51 today/this week 49s will then become the next lower target. 

Ethan Premock

Futures & Options Strategist
Hamzei Analytics, LLC

#PreMarket Thoughts and #CL_F Levels for Monday, July 6, 2015

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CLQ5 is starting to get a bit oversold but while below 55.30-55.65 zone there is still potential for lower; if so 53.20s will be the first lower target for today then 51s sometime this week.

If above 55.65 there is a good amount of resistance at 56.40-56.80 zone then 57.30. Only above 57.30 will lessen the chance for CLQ5 reaching 51s and lower this week. 

Ethan Premock

Futures & Options Strategist
Hamzei Analytics, LLC

#PreMarket Thoughts and #CL_F Levels for Thursday, July 2, 2015

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Yesterday CLQ5 just missed the 56.45 target mentioned all week and until first above 57.90-58.20 zone CLQ5 is likely to continue pushing lower today; if so 55.95 is a target then 55.60 55.40 zone.

If above 58.20 the next resistance level is at 58.90 and then key resistance at 59.40.

Ethan Premock

Futures & Options Strategist
Hamzei Analytics, LLC

#PreMarket Thoughts and #CL_F Levels for Wednesday, July 1, 2015

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CLQ5 still seems to be heading towards the 56.45 target while below 59.90-60.00 zone and until first above the low volume area (LVA) at 59.05-59.35 zone there will be better chance of pushing lower to at least 58.25-58.05 zone then a retest of 57.90.

If below 57.90 the next lower for today will be at 57.55. 

Ethan Premock

Futures & Options Strategist
Hamzei Analytics, LLC

#PreMarket Thoughts and #CL_F Levels for Tuesday, June 30, 2015

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CLQ5 still looks to be heading towards the 56.45 target especially while below the low volume area (LVA) at 59.15-59.55 zone.

If above 59.55 the bulls definitely have some work to do to get above 60.15-60.30 zone and until then the potential to reach 56.45 this week will remain intact.

Ethan Premock

Futures & Options Strategist
Hamzei Analytics, LLC

#PreMarket Thoughts and #CL_F Levels for Monday, June 29, 2015

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Last week CLQ5 was unable to get and hold above the first key resistance at 62s and now looks to be heading to the 56.45 target mentioned last week.

First resistance for today is at 59.55-59.65 zone then at  59.95-60.15 zone; until above these levels/areas CLQ5 will have better chance to retest 58.60-58.30 zone then also have potential to reach 57.60 and lower.

Ethan Premock

Futures & Options Strategist

Hamzei Analytics, LLC

#PreMarket Thoughts and #CL_F Levels for Friday, June 26, 2015

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CLQ5 now breaching the 59.25 target mentioned yesterday and also breaching the uptrend line from 56s.

Until first above 59.45 then above  59.70-59.90 zone the targets on the radar remain at 58.30 and 56.45.

Ethan Premock

Futures & Options Strategist

Hamzei Analytics, LLC

 

#CL_F Update & Levels for Thursday, June 25, 2015

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CLQ5 was unable to hold the gains from Tuesday’s pop and until first above 60.35-60.65 zone there is high chance of retracing lower to 59.25.

The bulls must defend above 59.25 otherwise 58.30 and 56.45 will be on the radar as potential lower targets. 

Ethan Premock

Futures & Options Strategist

Hamzei Analytics, LLC

#PreMarket Thoughts and #CL_F Levels for Wednesday, June 24, 2015

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Unless first below 60.50 there is good chance CLQ5 will/should continue higher from the move off the 59.50-ish support yesterday. If so or in order to move higher with ease CLQ5 must first get and hold above 61.30.

Once/if above 61.30 the first upside target will be the low volume area (LVA) at 61.75-ish then the key resistance at 62.10.

If below 60.50 today a must hold to keep a bullish bias is 60.10 otherwise the possibly of move to 59.95-59.80 zone will increase.

Ethan Premock

Futures & Options Strategist

Hamzei Analytics, LLC

#PreMarket Thoughts and #CL_F Levels for Tuesday, June 23, 2015

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After yesterday’s late day bullish move my bias for CLQ5 is now neutral; however as long as above 59.50 there is better odds CLQ5 will have bullish follow through from yesterday’s upside move. If so and in order to continue higher with ease the high volume area (HVA) at 60.45-60.65 zone must get breached to the upside then 60.80-60.95 zone as well, otherwise CLQ5 may stay balanced/neutral between 60.65 and 59.50.

Ethan Premock

Futures & Options Strategist

Hamzei Analytics, LLC

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