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

Quote from jas587:

I don't post here much but was wondering if anyone noticed a technical chart pattern-"bull flag pennant" supposedly a trend continuation? Any comments or observations? According to technical analysis this is a very reliable trend continuation pattern?:confused:
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I noticed that too and it has a nice triangle formation so I've been thinking a big move is due. I'm surprised the pattern hasn't been discussed much on ET (from what I could find). Oh well, I'll stay long for now and bail if it breaks down.
 
ALERT ALERT ALERT

Sell this bad boy with stop just above current Hi or wait for 30-60m signal with smaller stop. Daily chart shows exhaustion via the histo continuous declines upon each upper thrust. QMN8 last $134.375 Retracement, we welcome you with open arms & pants down :)

N.B. Extra vaseline for people without stops


<img src=http://dacdac.files.wordpress.com/2007/09/pants-down-tackle.png>
 
A bubble usually happens when there's no one left to buy and when everyone says prices can only go up and when very few are speaking about a bubble. None of this is currently true with oil.
 
Has anybody stopped using petrol because of the prices?
I don't really think so.
On the other hand the consumption inceases and the production is not unlimited.
:confused:
 
increasenow,
oil is increasing now.

I think it's healthy to not make one's all existence centered around one belief which you then follow down the drain.
 
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