March Crude took a bit of a bounce today as the market contended with the contract highs. Notice how low the market closed? This could indicate that prices really "felt" the resistance level. I'd love to see the market tag the 3500 resistance line one more time before falling off. I would put initial stops above the contract high for about $250 risk per contract.

Downside target looks to be support at 3250 for a whopping $2500 per contract. Entry is everything to making this trade work out however. We'll see what happens tomorrow.

Erich
http://www.tradershelpingtraders.net