Member
Posted 08 December 2023 - 12:24 PM
Pardon the word play but could this be a "crude" bottom for now?
There is a "line in the sand" for now.
UCO CHART : (SCO) is short crude etf.
See also:
Record U.S. oil production pushing prices down... Started by Rogerdodger, 05 Dec 2023
Edited by Rogerdodger, 08 December 2023 - 12:46 PM.
Member
Posted 08 December 2023 - 02:35 PM
The Ultra Crude seems to be making Fibonacci sized moves from secondary highs (yellow circles) as can be seen in the first three charts below. If this pattern holds and if Rodgerdodger is correct that a low is in, then the three "X's" on the fourth chart may provide upside targets.
Regards,
A Sucker for Symmetry - Douglas
Member
Posted 11 December 2023 - 01:14 PM
I am ALL IN!
Filled up this weekend for $2.33 gal. Unleaded.
Edited by Rogerdodger, 11 December 2023 - 02:27 PM.
A fool and his money... (the second mousie gets the cheese)
Posted 12 December 2023 - 03:22 PM
Not yet, almost...price needs to show me.
Member
Posted 13 December 2023 - 11:46 AM
You gotta love politics.
I remember in the late 1970's when there was no more oil!
Fireside Chat:
Wear a sweater, drive 55 mph
"turn down the thermostat for heating to 65 degrees Fahrenheit in the daytime, 55 degrees at night.
"There is no way that I, or anyone else in the Government, can solve our energy problems if you are not willing to help."
STAY ALIVE - DRIVE 55!
The slogan was part of public awareness of the new Emergency Highway Energy Conservation Act.
This law, crackdown on roads designed by the Interstate Highway system to be traveled 70 resulted in HUGE public backlash.
