I love when I check CNBC.com to see what the price of oil is doing and there is some stupid headline everyday explaining the day’s fluctuation in price. You can tell they literally make stuff up and pass it off as why the price of oil is moving one way or another. I need to fine a better website to check the indexes, oil and futures. I try to support NBC as little as possible anyways.
What was I talking about, oh yeah, what CL is going to do on Monday! So I was doing some back-test trading the CL tonight and saw where the price will go to. So if you trade the CL then here is some free money:
Price never retraced enough on Friday so it still has some ground to makeup. Look for price to go to around 45.25 at some point on Monday. If I was trading the CL now I would already be long several positions holding them over the weekend and looking for price to touch 45.25 as my exit on Monday.
