At this stage I am not sure what to do & I don't want to risk losing any of the big money we earned from the last 2 trades. (The short from 1975 to 1935 & the long from 1933/30 up to 1955).
There may be some resistance at 1970/73 but I do not feel confident enough to suggest a short. However a break higher can target 1978, 1983 & even 1992.
On the downside we should have good support at 1950/46.
WTI Crude December futures hit my target & strong resistance at 7920/7970 with a high for the day exactly here.
Shorts at 7920/7970 worked perfectly hitting my 1st target of 7790/60, with a low exactly here as I write over night. However we could fall as far as 7660 & 7600. Further losses can retest last week's low at 7530/00.
Strong resistance again at 7920/7970. Shorts need stops above 8040. A break higher is a buy signal targeting 8100 & probably 8180/8200.
