RE:RE:Today we hit $44 for oil futures in 2016!Bago, I agree, the $44 for Dec 2016 is just the start on this rally.
I use the price this year since that's in the scope and timeframe of many investors. Traders have a minute by minute timeframe but the average joe on the street generally wants to know how much they will do in a year. Fund managers are really concerned about year end as well.
The CME site is good, but if you get the numbers on barchart, you get all the added TA indicators
https://www.barchart.com/commodityfutures/Crude_Oil_Futures/CL?search=CL* For example for next month's contract at [url=https://www.barchart.com/opinions/futures/CLJ16&view=detailed]https://www.barchart.com/opinions/futures/CLJ16&view=detailed[/url] you get
| Overall Average: 32% Buy |
| |
| Price | Support | Pivot Point | Resistance | | 37.82 | 35.35 | 37.37 | 39.39 | |
Showing we are above the pivot point and next resistance is $39.39
You also get the "trader's cheatsheet" showing the turbulence ahead to reach $39.39
https://www.barchart.com/cheatsheet.php?sym=CLJ16 Interestingly enough, if you look at BTE's cheatsheet posted earlier today, you get resistance to $5.39 then nothing till the 52 week high of
$24.14! for BTE! So it's important to note that TA isn't perfect.... or is it? lol
https://www.barchart.com/cheatsheet.php?sym=BTE.TO 