Crude has pushed into the partial profit-taking zone today in a strong rally. In conditions like these we look to take partial profits on any intra-day top signal or, lacking that, in four days time. Rather than wait for a signal, we have some reason to expect that this rally will stall at around 57.44 in the May WTI contract, so would place a limit order to sell half the existing long position there (or a few tics lower), good for a few days. If we see a signal in the meantime, we will advise.
