Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

May Crude/Continues to Bump Resistance *PIC*

May Crude while bearish technically over the last few weeks has only pulled back mildly and continues to bump up against $104 resistance. "IF" price can clear and hold above $104 and take out the downtrendline from early March at $105 it will be rally time again and likely run to at least a double top at $114. Support levels on the last two previous pullbacks was at the 200ema in Dec and Feb. Presently the 200ema is at about the $100 level. Seasonal trend charts are still positive into summer/fall overall but volatile.