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> Oil at Inflection Point, Next 2 weeks could set direction for a while!
stubaby
post Sep 17 2011, 10:51 PM
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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


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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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dougie
post Sep 18 2011, 02:56 AM
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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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CHAx
post Sep 18 2011, 12:00 PM
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Looks bearish to me for the Intermediate Term. Long Term, buy this upcoming dip in oil.
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stubaby
post Sep 18 2011, 12:29 PM
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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


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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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dharma
post Sep 18 2011, 09:54 PM
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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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stubaby
post Sep 21 2011, 12:33 PM
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Added small "hedge" in DUG this am:



stubaby sweatingbullets.gif


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dougie
post Sep 21 2011, 02:11 PM
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joined you on open
hedging nat gas longs
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stubaby
post Sep 28 2011, 03:19 PM
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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 swoon.gif


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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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dougie
post Sep 28 2011, 08:37 PM
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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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senorBS
post Sep 29 2011, 09:36 AM
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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 swoon.gif


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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