Cl Continues Short

Crude continues an extended sell-off, quite surprising as NORMALLY we would see profit-taking and a rebound from a 1% move.

THAT COULD STILL HAPPEN, so we know that we DO NOT TAKE SHORTS near zero lines, such as our 48.25 as the PROFIT POTENTIAL will be limited.

BUT, if you must then you SHOULD see 48.25 act as resistance NOT SUPPORT as we are seeing here as it is our ZERO LINE!

SO, reversion is the key:  

1. Price moves below $48.25.
2.  PRICE MOVES BACK UP INTO $48.25.

PRICE RESISTS AND WE WITNESS SELLERS POURING IT ON.

TAKE IT TO:

48.15 and get out.

SECONDARY TARGET:   48.06.

DJ