Wednesday, December 26, 2012

A look at the $CL_F chart post break of 4 hour resistance

4 hour CL (notice break of green dashed) 
Well well well.. SOMETHING had to act out today might as well be crude.

War games in the Straight of Hormuz could be to blame for this break over the 90.14 four hour resistance level.

BUT my guess the move was catalyzed by the mid east news coupled and  natural price action pushed the price over resistance during today's thin trade.

Whatever the case may be 90.15 is now support with 90.82 being immediate support under the 91 level.  The high for the session is 91.30.

5 min CL
1 min CL. notice the ramp up over the 90.13 resistance level. 

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