 Oil at Inflection Point, Next 2 weeks could set direction for a while! |
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 Sep 17 2011, 10:51 PM
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#1
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 Member Group: Traders-Talk User Posts: 1145 Joined: 11-September 03 From: Central America Member No.: 55  |
No real predictions but identification of inflection point and some key levels and indicators to watch:
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!  stubaby -------------------- GOOD LUCK - the 'Galloping Gertie' syndrom about to hit the US and World Financial Markets over the next 2 Years - Batton down the hatches! Galloping Gertie - Public StockCharts List
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Sep 18 2011, 02:56 AM
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#2
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 Member Group: Traders-Talk User Posts: 3277 Joined: 12-October 03 Member No.: 345 |
your charts rock
i have to say, this looks tired oil falling good for miners unless it portends a bout of D |
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Sep 18 2011, 12:00 PM
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#3
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 Member Group: Traders-Talk User Posts: 1084 Joined: 18-September 07 Member No.: 6325 |
Looks bearish to me for the Intermediate Term. Long Term, buy this upcoming dip in oil.
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Sep 18 2011, 12:29 PM
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#4
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Member Group: Traders-Talk User Posts: 1145 Joined: 11-September 03 From: Central America Member No.: 55 |
QUOTE (CHAx @ Sep 18 2011, 01:00 PM)  Looks bearish to me for the Intermediate Term. Long Term, buy this upcoming dip in oil. CHAx: 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! stubaby -------------------- GOOD LUCK - the 'Galloping Gertie' syndrom about to hit the US and World Financial Markets over the next 2 Years - Batton down the hatches! Galloping Gertie - Public StockCharts List
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Sep 18 2011, 09:54 PM
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#5
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Member Group: Traders-Talk User Posts: 4179 Joined: 22-April 04 Member No.: 1778 |
lower oil prices , which seems to be the phase oil is in, will serve as a stimulus for world economies. especially countries like china which imports all of its oil
its also a boon for miners. i agree w/chax. if one has the patience to buy the weakness and hold . then , they will be rewarded. dharma |
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Sep 21 2011, 12:33 PM
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#6
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Member Group: Traders-Talk User Posts: 1145 Joined: 11-September 03 From: Central America Member No.: 55 |
Added small "hedge" in DUG this am:  stubaby 
-------------------- GOOD LUCK - the 'Galloping Gertie' syndrom about to hit the US and World Financial Markets over the next 2 Years - Batton down the hatches! Galloping Gertie - Public StockCharts List
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Sep 21 2011, 02:11 PM
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#7
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Member Group: Traders-Talk User Posts: 3277 Joined: 12-October 03 Member No.: 345 |
joined you on open
hedging nat gas longs |
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Sep 28 2011, 03:19 PM
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#8
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Member Group: Traders-Talk User Posts: 1145 Joined: 11-September 03 From: Central America Member No.: 55 |
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! stubaby 
-------------------- GOOD LUCK - the 'Galloping Gertie' syndrom about to hit the US and World Financial Markets over the next 2 Years - Batton down the hatches! Galloping Gertie - Public StockCharts List
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Sep 28 2011, 08:37 PM
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#9
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Member Group: Traders-Talk User Posts: 3277 Joined: 12-October 03 Member No.: 345 |
missed the re entry on DUG: a beauty! Travelling
sold at highs last week. now thinking this goes MUCH higher might need to chase |
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Sep 29 2011, 09:36 AM
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#10
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Member Group: TT Member+ Posts: 5893 Joined: 26-January 04 Member No.: 1301 |
QUOTE (stubaby @ Sep 28 2011, 03:19 PM) 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! stubaby 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 Senor |
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Lo-Fi Version | Time is now: 24th May 2013 - 10:29 AM |