Oil at Inflection Point
Posted 17 September 2011 - 10:51 PM
Breakout from declining channel or break below bearish wedge!
Plenty of room to decline more on the weekly OR a powerful reversal and upside continuation!
Monthly looks tired - notice MACD cross!
Posted 18 September 2011 - 02:56 AM
Posted 18 September 2011 - 12:00 PM
Posted 18 September 2011 - 12:29 PM
Looks bearish to me for the Intermediate Term. Long Term, buy this upcoming dip in oil.
I agree - would like to see the RSI on the Weekly move below 30 and Both the Slow Stochastics and Williams %R "reset" at a lower level on the Monthly. I added a parallel to the Monthly which comes in around $60 - seems a reasonable target IF we get the breakdown from here!
Posted 18 September 2011 - 09:54 PM
Posted 21 September 2011 - 12:33 PM
Posted 28 September 2011 - 03:19 PM
Posted 28 September 2011 - 08:37 PM
Posted 29 September 2011 - 09:36 AM
Looks like Oil voted - "break below bearish wedge" - the recovery Monday and Tuesday tested breakdown area from below and we are now rolling over again. Break below Friday/Monday low and down to $70 we go! Hold here and recapture breakdown area for save - low odds IMHO.
Raising stops on DUG position - just in case!
weekly abc down in crude from 115 Senor thinks botomed at 78 - cinco wave rally to 84.55, now correcting that and then headed to 90, my FF