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Crude Oil - CL1! - Daily - Trade Setup in Place

Crude Oil - CL1! - Daily - Trade Setup in Place

Crude Oil WTI NYMEX:CL1!

Note how the Average True Range has declined the last 3 days. 3.22 on 1/22 2.55 on 1/23 2.06 on 1/26 1.74 on 1/27 today. Note also how crude hasn't been overbought since September using 11-day CCI. There are bullish divergences on this test of the early January low and anytime the market can lift from a divergence means there could be a lot of stops just over the market. I would exit when CCI reaches +100 and save some longs for when it gets to +200. I know I'm going to get plenty of "hate" replies for this idea, but even if I lose on this trade I will win with lower heating oil and gasoline prices at the pump. So, view this as a hedge if you have to. Or view it as a "free trade". Good luck. Tim 6:09PM EST 1/27/2015 45.67 last on CL1! (Front Month Crude Futures)