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South Central Iowa | But how low do you have it targeted for Sat?
I am looking around $39.50-$40.50, a decline from a high of $55 as recently as 2/21. That would be a price decline of as much as 28.5% from 1/3/17 high to 4/28/17 low. That is a hell of a bear move in 4 months, much less 2! That is when I would consider stepping in as a buyer if all would play out well. $39.50 buy, PnF stop would be at $38, but I would make it tighter, probably $38.9 or something.
I am not bullish crude either, and a lot are being roasted right now. That is what will fulfill the rejection of $50. Those bulls will be glad to cut loses there or take quick gains off $46-$48 purchases out of fear. Bear trend in place right now.
Edited by Conan the Farmer 3/12/2017 15:04
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