Range and De-ranged

The 47-54(occasionally shading a little higher or lower)  range lasted for some time as we have illustrated for months in fact on our longer term chart. This was a good thing. Ranges are a good friend to the trader. I cant count on both hands how many times the top of the previous range was tested only to fall back to bottom and repeat the cycle. 

Factors are starting to come together that might have us in a new range. This one on early identification appears to 54-60. Thus far we have sold at 60.03(man that one was sweet)it brushed just past that juncture and  fell and bounced and fell again. Arguments will be raised and can raise enough believability to drag oil down and push it back up within these parameters for some time to come. We will trade these ranges with impunity until proven wrong unless some real economic data tells us to do differently. 














Market is exceedingly foreseeable here. Stop guessing which direction oil is going and let me do the research for you. The daily outlook is posted premarket every trading day and identifies support and resistance and provides a daily trading bias. You can not trade crude oil with those 3 critical pieces. Without those 3 key signs you are good as flying blind. Having access to that key information is the differance between being the hunter or the hunted.

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