20 reasons why Oil to NEVER hit $135.00 again...dated: May 22, 2008

Quote from increasenow:

who is EW?...also, great post!!!...I agree with you..."A violent crash is on the way"...like, Nasdaq in 2000, Dow since last year, Wheat, Soybeans, Gold, Euro compared to its peak etc...
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Thanks for your response. EW is Elliott Wave. i don't figure it out myself...have software, but most importantly subscribe to an elliott wave service which makes alot of sense to me.:)
 
as long as there's people shorting, the price will keep going up.

and to think people were certain of oil not going above 110 again...
 
my thoughts are that once this 5 day moving average is broken heading 'down'...look for Oil to freefall 'down' and this number become resistance...

CME Globex CL 5-Day Moving Average 131.54
 
CL holding at $132.97 currently at 9:17AM San Diego time May 26th...

Memorial Day Bar-B-Q

again...I am so BEARISH on Oil...really looking for the huge tank this week...hmmm...by this Friday?...could it settle under $130.00?..I say very likely
 
Quote from increasenow:

my thoughts are that once this 5 day moving average is broken heading 'down'...look for Oil to freefall 'down' and this number become resistance...

CME Globex CL 5-Day Moving Average 131.54
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this post confirmed...look for my downside...
 
Quote from ess1096:

Price is right at an overhead trendline on the weekly. Yes, it could break out above it, or even ride it's way up the line for a while. But if it's going to pull back this could be a good place for it.
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Right - lower channel right in the 112 to 113 area and right where my primary short position targets are at.
 
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