Crude looks primed to screw the pooch, but the daily chart suggests two trade possibilities nonetheless. One would call for getting short on a pop to d=65.38. A stop-loss as tight as 15 cents can be used, although it would be preferable to set up a ‘camo’ trigger pattern on a chart of a lesser degree. The second trade calls for bidding ‘mechanically at the green line (x=57.0). The textbook stop-loss would be just below c=54.33, so tighter risk management is called for by entering the trade with a trigger pattern of small degree.
$CLN25 – July Crude (Last:61.53)
