Tighten Oil Stops

Oil is working out just as planned.  I recommend tightening up the stop to $49.50.  This guarantees $1.50 per barrel of oil or $1,500 per contract.  The next major resistance oil should have will be at the 200 day moving average around $52.50.  I am still believing oil has potential to top at around $58.00 on this cycle.  That would be off my chart!