Crude oil 8-02-10

Last week i laid out the case for a rally possibly to the 82.60 area. I still feel as though oil is way overpriced up here , based on fundamentals. On the short term im expecting some resistance at 72.62-72.65...

stopped at 81.06

KB - from the glbx low we have 7883-7990 >>> 8163. would you consider that a valid projection?

i'll next ry a short around 81.50-55 or so...may buy lower tho...sheese maybe were on our way to 82.60 today!(or tomorrow!)

they need to fill that air (5 min) at 81.13

selling 81.52

+50% IB = 8149, +100% IB = 8185

well cause of the one min chart, and since we already hit 81.50, i'll adjust to 81.60...would really like to buy a good pullback!!!

i will buy any fill of the singles at 81.13... hopefully 81.10 or so

Me too re pullback. I had started to short at 8017 off a 8019 projection and got into huge trouble. I tried to reverse in the 8061 area after clearing out final ss at 8064 but we didn't get there.

Originally posted by koolblue

well cause of the one min chart, and since we already hit 81.50, i'll adjust to 81.60...would really like to buy a good pullback!!!