This report was sent to subscribers on 7/20/10 5:20 p.m. Chicago time to be used for trading on 7/21/10. Everything is done by Howard Tyllas, no program or black box.

September Crude Oil

After the close recap on 7/21/10: My resistance was 78.55, only .02 from the actual high, and my pivot acted as support and was 76.00, just 0.20 from the actual low.

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I still say "Bulls will try to get above the downtrend line near $78.00 which acts as resistance. The gap at 74.64 supports".   

 September Crude Oil for 7/21/10:

  I said "Market made a new high for the run and closed lower which bodes well for another down day to follow. Support is near bracket line and downtrend line, then the gap at $74.07".

In charting, when a resistance is hurdled it becomes support, and when the support is broken it becomes resistance.

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

 In my daily numbers on Tuesday; my resistance was .65 from the actual high; my support was .38 from the actual low.

  Crude Oil: Accurate support and helpful resistance, but the chart comment was almost perfect. Chart still has good resistance at $78; I want to take the sell signal only, not the buy. 

September Crude Oil 7/20/10:

Crude Oil: Accurate resistance but not helpful support. Notice how the chart provided perfect resistance at the downtrend line. Gap at $74.64 supports. I want to take the sell signals only and not risk more than .40 on a buy stop to protect.

September Crude Oil for 7/19/10:

Crude Oil: Spot on numbers. Selling resistance was a good trade idea. I want to continue to trade from the sell side especially selling at the bracket or downtrend line. I want to risk only .40 on the trade idea. The chart is bearish seeing the rallies are producing lower highs than the previous rally. It would take a couple of closes above $81 to break that pattern turning the chart friendly, and 2 closes over the bracket line at $85 to turn the chart bullish. Bears longer term target is the gap near the bracket line support of $71.

September Crude Oil for 7/16/10:

Crude Oil: Accurate numbers at best. Bulls are in control but are having trouble at resistance levels just above at $80. I would trade the numbers with a bearish bias at resistance and risk no more than .40 on a buy stop to protect.

Results for 7/16/10 were:

Soybeans: My resistance was .03 from the actual high; my support was .15 1/4 from the actual low.

Corn:    My resistance was .01 1/2 from the actual high; my support was .02 1/4 from the actual low. 

Crude Oil: My resistance was .33 from the actual high; my support was .08 from the actual low.

S&P:    My resistance was 3.00 from the actual high; my support was 5.00 from the actual low. 

Gold:     My resistance was $0.90 from the actual high; my support was $0.80 from the actual low. 

Euro:    My resistance was .95 (exactly 1/2 way) from the actual high; my support was .21 from the actual low. 

Bonds: My resistance was 4 from the actual high; my support was 7 from the actual low. 

Nat. Gas: My resistance was .036 from the actual high; my support was .006 from the actual low.   

Cattle:  My resistance was .15 from the actual high; my support was .67 from the actual low. 

September Crude Oil 7/15/10:

Euro: Spot on numbers. I have the same thoughts and numbers today.

September Crude Oil 7/14/10:

Crude Oil: Spot on resistance and helpful support. Idea of wanting to trade the short side was a good idea. Since the market made a new high for the run and closed lower, I want to take the sell signals only today and risk .40 on the trade idea.

Results for 7/14/10 were:

Soybeans: My resistance was .02 1/4 from the actual high; my support was .02 1/2 from the actual low.

Corn:    My resistance was .01 from the actual high; my support was .02 1/4 from the actual low. 

Crude Oil: My resistance was .17 from the actual high; my support was .59 from the actual low.

S&P:    My resistance was 1.25 from the actual high; my support was .25 from the actual low. 

Gold:     My resistance was 5.70 from the actual high; my support was 6.40 from the actual low. 

Euro:    My resistance was .27 from the actual high; my support was .08 from the actual low. 

Bonds: My resistance was 1 from the actual high; my support was 10 from the actual low. 

Nat. Gas: My resistance was .098 from the actual high; my support was .034 from the actual low.   

Cattle:  My resistance was .42 from the actual high; my support was .10 from the actual low. 

September Crude Oil 7/13/10:

Crude Oil: Spot on support but not helpful resistance. Bulls are gaining control but will be facing sellers at $80. Idea to sell resistance lost .40, and I would try that again today if we are near $79.94 and would risk .40 on a buy stop to protect.

September Crude Oil 7/12/10:

Crude Oil: Spot on numbers! 3rd time at the downtrend line was a strong sell signal that worked once again. I want to take the sell signal again and prefer to sell against resistance. Gap at $74.07 is good support and really not much below there until $71 near the bracket line. They are just above the pivot as I write but I do not want to take the buy signal. I do not want to risk more than $.40 on a trade idea.

Results for 7/12/10 were:

Soybeans: My resistance was .01 from the actual high; my support was 04 3/4 from the actual low.

Corn:    My resistance was .00 3/4 from the actual high; my support was .02 1/2 from the actual low. 

Crude Oil: My resistance was .18 from the actual high; my support was .12 from the actual low.

S&P:    My resistance was 2.25 from the actual high; my support was 2.25 from the actual low. 

Gold:     My resistance was 1.60 from the actual high; my support was 5.80 from the actual low. 

Euro:    My resistance was .01 from the actual high; my support was .02 from the actual low. 

Bonds: My resistance was 15 from the actual high; my support was 10 from the actual low. 

Nat. Gas: My resistance was .024 from the actual high; my support was .013 from the actual low.   

Cattle:  My resistance was .02 from the actual high; my support was .05 from the actual low. 

Cattle:  My resistance was .02 from the actual high; my support was .05 from the actual low. 

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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.