Oil Pullback

The Bear · #1 (**permalink**) 04-11-2007, 05:59 PM

Any thoughts on the oil pullback on the daily (Symbol: CL)?

I'm bullish on oil, but this pullback is pretty hard.

I've been shorting CL lately, but these 2 little doji days in a row? At this point i'm either way, but unsure how much more downside there is.

walterw · #2 (**permalink**) 04-11-2007, 08:16 PM

Bear : can you show us some charts, otherwise its very dificult to interact... thanks Walter.

WinSum · #3 (**permalink**) 04-11-2007, 10:24 PM

$60.88 looks like a good spot to start buying and $62.85 looks like a good spot to start shorting.

The Bear · #4 (**permalink**) 04-11-2007, 11:05 PM

Interesting Winsum. I'm pretty much ready to start buying now, but going to wait to see it retrace a bit. It may fall apart though at anytime, so i'm just keeping ready. After we had the huge selloff 3 days ago, we are sort of resting now.....waiting....

Walter I can't...my charts are on my trading systems, and this is my net surfing system....

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