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April Crude Oil Daily Numbers & Trade Ideas for 3/12/10


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This report was sent to subscribers on 3/11/10 6:00 p.m. Chicago time to be used for trading on 3/12/10. Everything is done by Howard Tyllas, no program or black box.

Do yourself a favor and get your numbers after the market is closed to be used for the next session trading. Ask yourself how much would it have been worth to read my comments and get my numbers 14 hours before today's open outcry?  

April Crude Oil

After the close on 3/12/10: My resistance was 83.03, just .13 from the actual high, and my support was 80.81, .24 from the actual low.

Results for 3/12/10 were:

Grains: My soybean resistance was $.02 3/4 from the actual high and my support was $.05 from the low, and my corn resistance was $.01 1/4 from the actual high, and my support was $.00 1/2 from the actual low.

Crude Oil: My resistance was 0.13 from the actual high; my support was 0.24 from the actual low.

S&P: My resistance was 4.75 from the actual high; my support was 4.25 from the actual low.

Gold: My resistance was 8.80 from the actual high; my support was 8.80 from the actual low. 

Euro:  My resistance was 0.07 from the actual high; my support was 0.02 from the actual low.

Bonds: My resistance was 3 from the actual high; my support was 2 from the actual low. 

Nat. Gas: My resistance was .013 from the actual high; my support was .016 from the actual low.   

Cattle: My resistance was .20 from the actual high; my support was .05 from the actual low. 

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83.55 FG                        

83.03                         Resistance

--------------81.92       Pivot

80.81                          Support 

80.16                           

       Use the same numbers as used on 3/11/10     

Trend                             

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

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

Weekly chart ........Sideways  

Monthly chart ...... Sideways   76.42 is the 200 MA

 ATR 2.01                 Overbought 81%

 

I said "Bracket line resistance (red) is resistance, downtrend line supports near $79".

April Crude Oil for 3/12/10: 

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 .46 from the actual high, my support was .52 from the actual low. 1/2 way rule was almost perfect. 

Crude Oil: Helpful numbers at best unless you applied the 1/2 way rule. Strong chart would not surprise me to see a retest of $83.03. I would trade the numbers with no bias today.

April Crude Oil for 3/11/10

Crude Oil: Helpful numbers at best. Selling the pivot did not work, buying above did. I want to play the short side up here and have a buy stop above the bracket line resistance, and play from the long side near bracket line support near $77. 

 April Crude Oil for 3/10/10

Results for 3/9/10 were:

Grains: My soybean resistance was $.01 3/4 from the actual high and my support was $.03 from the low, and my corn resistance was $.01 3/4 from the actual high, and my support was $.02 from the actual low.

Crude Oil: My resistance was 0.16 from the actual high; my support was 0.43 from the actual low.

S&P: My resistance was 2.75 from the actual high; my support was 2.00 from the actual low.

Gold: My resistance was the Exact actual high; my support was $3.90 from the actual low. 

Euro:  My resistance was 0.19 from the actual high; my support was 0.39 from the actual low.

Bonds: My resistance was 11 from the actual high; my support was 9 from the actual low. 

Nat. Gas: My resistance was .010 from the actual high; my support was .044 from the actual low.   

Cattle: My resistance was .30 from the actual high; my support was .10 from the actual low. 

Crude Oil: Spot on resistance and accurate support. My idea to sell at the pivot was good, and I still have the same idea for today.

April Crude Oil for 3/9/10

Crude Oil: Accurate resistance and spot on support. Same thoughts as on Monday. Market closed off their highs not as well as I would have liked if bullish. Turnaround Tuesday looks ripe for this market in overbought conditions after a big move in 4 weeks. I use the numbers to trade, but for today I want to sell near the pivot with a buy stop just above Monday's high to protect.

April Crude Oil for 3/8/10

Results for 3/5/10 were:

Grains: My soybean resistance was $.02 1/4 from the actual high and my support was $.01 3/4 from the low, and my corn resistance was $.00 3/4 from the actual high, and my support was $.01 from the actual low.

Crude Oil: My resistance was 0.37 from the actual high; my support was 0.10 from the actual low.

S&P: My resistance was .50 from the actual high; my support was 5.75 from the actual low.

Gold: My resistance was $2.10 from the actual high; my support was $1.60 from the actual low. 

Euro:  My resistance was 0.13 from the actual high; my support was 0.33 from the actual low.

Bonds: My resistance was 6 from the actual high; my support was 9 from the actual low. 

Nat. Gas: My resistance was .020 from the actual high; my support was .066 from the actual low.   

Cattle: My resistance was .27 from the actual high; my support was .05 from the actual low. 

Crude Oil: Spot on numbers. Funds have doubled their long position in 3 weeks increasing their position from 42.060 to 91,417 contracts looking at the weekly COT reports. Bullish chart looks like the bulls are targeting the bracket line resistance now. I would use my numbers to trade without a bias for Monday

 April Crude Oil for 3/5/10

Crude oil gaining strength from a firm stock market, and corn and soybean oil gaining strength from crude oil. I do not think they will follow through.

  April Crude Oil for 3/4/10

Results for 3/3/10 were:

Grains: My soybean resistance was $.00 1/2 from the actual high and my support was $.00 3/4 from the low, and my corn resistance was $.03 1/4 from the actual high, and my support was $.03 3/4 from the low.

Crude Oil: My resistance was 0.28 from the actual high; my support was 0.07 from the actual low.

S&P: My resistance was 3.00 from the actual high; my support was 0.75 from the actual low.

Gold: My resistance was $2.20 from the actual high; my support was $0.70 from the actual low. 

Euro:  My resistance was 0.52 from the actual high; my support was 0.02 from the actual low.

Bonds: My resistance was 1.5 from the actual high; my support was the EXACT actual low. 

Natural Gas: My resistance was .079 from the actual high; my support was .048 from the actual low.   

Cattle: My resistance was .30 from the actual high; my support was .02 from the actual low. 

Crude Oil: Spot on numbers. Chart looks good but in need of a breather in extremely overbought condition. As I said, $81 is a sell and I would use a buy stop just above the gap at $81.71 to protect.

Want to know what I think for tomorrow and going forward?

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           May Your Next Trade Be The Best                          

                     Howard Tyllas            

   Tel.1-312-573-2699, 1-312-961-4390

Disclaimer:     No guarantee of any kind is implied or possible where projections of future conditions are attempted. Futures trading involve risk. In no event should the content of this be construed as an express or implied promise, guarantee or implication by or from Howard Tyllas, that you will profit or that losses can or will be limited in any manner whatsoever. No such promises, guarantees or implications are given. Past results are no indication of future performance.



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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) 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. 

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 39 years experience, wisdom, and knowledge from which you will then be able to use and benefit from at will.

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 dailynumbers@futuresflight.com

Visit my website www.futuresflight.com

                                                 

                        

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