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March Crude Oil Daily Numbers & Trade Ideas for 1/22/10
Friday, January 22, 2010

This report was sent to subscribers on 1/21/10 6:00 p.m. Chicago time to be used for trading on 1/22/10. Everything is done by Howard Tyllas, no program or black box.

March Crude Oil

After the close on 1/22/10: My resistance was 76.99, .49 from the actual high, and my support was 73.52, .49 from the actual low.

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78.36

76.99

--------------75.95 Pivot

74.92 near uptrend line

73.52

Trend

5 day chart ...... Down (from last week same day)

Daily chart ......... Sideways

Weekly chart ........ Up

Monthly chart ...... Sideways 73.49 is the 200 MA

ATR 1.85 Extremely Oversold 1%

I said "Bears not only captured the downtrend line, but the bracket line too. This is strong resistance now. Steep uptrend line support comes in near $75, with long term uptrend line coming in near $72". Last bar on the right is the start of tonight.

Bulls recaptured the bracket and downtrend line in a strong performance.

March Crude Oil for 1/22/10

I have been saying for months "What the equities market & the $ does from here, will help or hurt crude oil".

In my daily numbers on Thursday my resistance was $0.04 from the actual high; my support was $0.74 from the actual low.

Crude Oil: Spot on resistance being off $.04, not helpful support. I have the same thoughts as yesterday even though extremely oversold.

March Crude Oil for 1/21/10

Crude Oil: Accurate numbers .36 from the high, .20 from the low. Report today, but I am still a willing seller at resistance. This is another market that is extremely oversold.

March Crude Oil for 1/20/10

Crude Oil: Accurate numbers off .24 and .31. Since I am thinking strong dollar and I am looking at the dollar tonight testing 142, I want to sell crude oil with a buy stop just above the gap to protect. Even though the chart looked good Tuesday for further gain in the short run, I want to sell and use a buy stop above my gap today at 79.39 to protect.

Want to know what I think for tomorrow?

The 9 markets now covered daily are March soybeans, March corn, February crude oil, March S&P, March Euro FX, March 30 yr TBond, February gold, and February natural Gas and February cattle

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May Your Next Trade Be The Best

Howard Tyllas

Tel.1-312-573-2699, 1-312-961-4390

Recent articles from this author

June Euro Daily Numbers & Trade Ideas for 3/19/10 - Saturday, March 20, 2010
June S&P Daily Numbers & Trade Ideas for 3/17/10 - Wednesday, March 17, 2010
April Crude Oil Daily Numbers & Trade Ideas for 3/17/10 - Wednesday, March 17, 2010
June Euro Daily Numbers & Trade Ideas for 3/15/10 - Monday, March 15, 2010
April Crude Oil Daily Numbers & Trade Ideas for 3/15/10 - Monday, March 15, 2010

About the author

Currently a member of The Chicago Board of Trade (CBOT) and registered with the Commodity Futures Trading Commission (CFTC) as a floor broker and as a Commodity Trading Advisor (CTA). I am the President of Futures Flight, an Introducing Broker (IB) for MF Global, and a member of the National Futures Association (NFA). I started my career in 1973 on The Chicago Mercantile Exchange trading floor working for a major firm. Three years later I purchased my first membership and began what would become a thirteen-year commitment to trading soybeans for my own account on the trading floor. I began trading options on futures since their inception in Chicago about twenty years ago; doing so, I traded in various pits on the trade floor.

I day traded from 2000-2002 for Schoenfeld Securities (a major proprietary trade firm), and then continued to trade at Sheppard Int. for Jump Trading, LLC. I concentrated on the emini S&P and NASDAQ, trading them “upstairs” on a screen. One of the major lessons that I have learned from all my years of experience is that knowledge is an important condition for the possibility of successful trading. Knowledge gives you a better chance to succeed by eliminating obvious mistakes: with it, you will never find yourself shamefully uttering, “If I only took the time to learn”.

I want to save you from such regrets by teaching you where the danger is, what it looks like, and how to go around it, while still keeping an eye on your destination of success. In short, I will teach you how to combat error with knowledge.
My mission is to educate you, giving you my 34 years experience, wisdom, and knowledge from which you will then be able to use and benefit from at will. For you, I will be a personal trainer, coach, mentor, overseer, market strategist, consultant, and advisor. I know what will help you make money, and I know what will insure failure. Use my services and prevent, “If I only knew”.

Howard Tyllas

Futures trading involves the substantial risk of loss and may not be suitable for all investors. Past performance does not mean future results.

If you have a question, or comment, email me howardtyllas@howardtyllas.com

Visit my website www.farmerhedge.com

http://www.howardtyllas.com

http://www.futuresflight.com

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