3 replies to this topic

[gannman]

i went back and looked at the charts again and i think they have bottomed. no more retests of the previous lows i think that aug 2 date was it fwiw 

 

we will see

 

 

[Shaggies_View]

My monthly signal still on a SELL, Weekly on a BUY and Daily on a SELL.

 

Shaggy

[Data]

OSX bounced off the 50% retracement level from the winter low.  There were a couple of articles on speculative short positions on crude oil and gasoline approaching the levels of last February which would portend a sharp bounce.  Fundamentals will probably stay poor for the Fall since gasoline production is expected to fall and China's SPR1 is filling up in August.  Demand for crude oil may fall 1.8 mln bpd through October.

[gannman]

thanks im expeting oil to trade down to about 37.5 yo 38 area but i do believe the stocks have bottomed