Has anyone noticed a gigantic head-and-shoulders forming in the daily crude chart going back to October, 2009?
H&S Formation in Daily Crude
Started by
TradingUp
, Mar 09 2010 08:02 AM
1 reply to this topic
#2
hawkeyefan
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- Traders-Talk User
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Posted 09 March 2010 - 08:40 AM
Has anyone noticed a gigantic head-and-shoulders forming in the daily crude chart going back to October, 2009?
What I feel is more important is how to label the 5 wave decline from the middle of January to early February.
Is it the final leg of a 3-3-5 correction of the uptrend that started October 2009? Or is it a new impulse down and the correction finished here?
I was long USO and sold it Friday as I couldn't decide which. Probably should have waited to be "forced" out.
