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Crude oil 7-29-10

Good morning...selling right here at 78.42
I had that 78.54 level as decent resistance... above that the 78.88-78.92 zone... not as sure on downside support tho...
stopped at 78.57...loss of 15 cents.. waiting for the 78.88-92 zone
the big picture!...
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working a short now from 78.85...
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BINGO!... 78.53..the reason is evident on the above chart (78.50 1.618) .32 and up on the day!...whew!
buying the 4.236 around 77.86 if they carry it that far...
nice trade Kool. Do you ever hold for the lower supports rather than exiting at the 161%?
Sometimes Einstein, but usually the projections or mov avg support or prc band support..long from 77.86
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a good long term investment