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Trading Crude : A level approach

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Trading Crude : A level approach

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  #51 (permalink)
St. Louis Mo., USA
Posts: 75 since Jul 2012
Thanks: 6 given, 79 received

Crude, 107.92 level held for roughly 24 hours but was constantly be probed. Short was in the money several times but was holding for the weekly lower level which looks doubtful at this point. Should have followed my gut with my prior post ... you could see the upward pressure building against the 107.92 level.

Gold is already down to the daily 2nd lower level. I am looking to nibble long here with price under this level as a stop. It is against the trend but statistically by the end of day, 96% of the time price will close at or above this level (1331.6).

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  #52 (permalink)
St. Louis Mo., USA
Posts: 75 since Jul 2012
Thanks: 6 given, 79 received

Gold : 15 min chart of price hugging 2nd daily lower level since 7:30 central time.

30 yr bond with daily levels only for the past x days. Gave some pretty clear signals in regards to which side of the trade to be on.

Crude : 107.92 level tested again but as support this time. If there is enough juice to keep the push, 108.93 looks like the next upside target.

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  #53 (permalink)
St. Louis Mo., USA
Posts: 75 since Jul 2012
Thanks: 6 given, 79 received

Crude did get to 108.93 level. Gold still hugging the same level. Maybe that's all the pop in gold for today, we shall see.

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September 12, 2013

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