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One of my ideas triggered yesterday, buying $51.10 looking for a .50 move, and we just barely got that overnight, and this morning Crude is looking weak after making a lower high, now it’s making a lower low as it appears that the $50 price could be tested soon.
I think over $50, and I still have to look to buy dips. My idea for the day is buying $50.20 small and adding at $50.00, risking .25 to make .75.
$51.60 (*) Second TGT + Some Resist
$51.30 (*) First Higher Target + Some Resist
$51.00 (*) Early Pivot
$50.50 (*) First Lower Target + Some Support
$50.20 (*) Lower Target 2 + Some Support
$50.00 (***) Pivotal
$49.70 (**)
All the best;
Michael Blythe
Futures Strategist
Hamzei Analytics, LLC
Good morning. Somewhat of a mixed bag since yesterday in the Treasury complex and so the bias has to remain to the trend which is lower. Yesterday, If you took both trade ideas then we did well on both sides, however the short idea from the 150’29 ave need a break of 150’10 to get the full handle, I am bidding 150’13 on half and moving stop to break even.
For today: I only want to be short below 150’10. Only new idea today is selling 151’04 with small size, risking 16 ticks to make 32 ticks.
151’20 (***) TGT 3 + Resist
151’08 (**) TGT 2 + Resist
150’30 (*) First Higher Target + Some Resist
150’21 (*) Early Pivot
150’10 (*) First Lower Target + Some Support
149’26 (*) Second Target
149’10 (***) Third Target + Support
All the best;
Michael Blythe
Futures Strategist
Hamzei Analytics, LLC
