CL Updated

I am continuing to SHORT CL (Crude, or WTI) at every opportunity.

 First, we have a primary short on our chart:

 http://tos.mx/X7y1jQ 

 I have shown the two values here that comprise the RANGE IN PLAY:   

$74.95 drawn down to $26.05.   THIS IS WHAT THE RANGE LOOKS LIKE with the MM drawn up:

  http://tos.mx/NGvhnh    >>>> Observe that price moved up from 26.05 and tested and "wound around" 50.38 over a long period of time, from 6 June 2016 up to recently, on 22 May 2017 and now we see price descending in a series of MM's from that reversal Point.

Now, it's time to look at a long that I am watching which must break:

http://tos.mx/EMzNMR   >>> this long is from a swing low to a swing high, 35.24 drawn up to 55.24.  NOTE THOSE VALUES, 35 to 55!   This is a 20 point range which we divide in half and subtract from the highs and we have 45.24.

35.24 to 55.24 to 45.24.  VERY INTERESTING LEVELS.

If the shorts are to win this battle, we must see 42.88 break.  Observe that 45.24 was already tested in the week of 1 May 2017.    HARDLY ANYONE KNOWS about these levels, but I am sure that the ALGO traders do know about this long.

 OK, now it is time to Look at our SHORTS, where I show the MM's in an hour chart:

http://tos.mx/ZPq1eu    >>>> OBSERVE>>>>the highlighted highs and lows in this chart.  Those are the finished MM's on the left and we are in an EXTENSION SHORT, which means that the previous short over-shot its -23.6% target.

Here is TODAY's MM short, which I took:

http://tos.mx/gbdwOj    >>> and, the short was taken at 46 flat and closed at 45.60.  I coverd on the bounce and took the 40 ticks and got out fast.

 

There is a long from 45.20 drawn up to 46.14.   This long must break so that we can see the short hit its target, 44.84.   I got out on price action alone.

 

Note:  there was a BOUNCE at our long, 45.24!   WATCH THIS LONG CAREFULLY.

 

DJ