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...

yeah, as you know ,ive been targetting that area for a while today...going to bail on this long 81.35-45

the 1.618 is 81.42...2.618=81.62

stop now at breakeven...

out at 81.35!...i'll take it..

terrific

Originally posted by koolblue

out at 81.35!...i'll take it..

well, maybe, but i still think higher 81.42, and 81.62, and possibly even more...

nice trades guys. Scalped a few cents too.

Originally posted by einstein

nice trades guys. Scalped a few cents too.

Thx1..but because of a loser earlier, im only up 6 cents!... but at least im up!

sold 81.61 per my earlier posts.. but this will be a real quickie!