Bullish on OIL @ $51.30

J

JSSPMK

Bullish on OIL here based on daily chart, stops below $48, targets below $70 then below $90

Currently trading near a weighted support zone, price in a bullish wedge, so far a DB plus histogram indicating a buying formation. Whatever is in the making be it a reversal or a bounce I believe looking at the chart that price ought to bounce from these levels.
 
Quote from ogarbitrage:

God speed. I don't think we'll see $90, let alone $70, anytime through 2009.
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Is there something you're basing your opinion on or is it simply a gut feeling? I posted analysis based on what I am seeing
 
Built positions from 80s all the way down to 50s. Legged in, taking a little heat when oil hit high 40s.

Rolled all my investment's into energy as well, Some of the funds had a NAV value of 10, drop'd to 2, moved any free money into the funds at an average NAV of 4 or so.

Betting all on Black for the future.
 
Quote from JSSPMK:

Is there something you're basing your opinion on or is it simply a gut feeling? I posted analysis based on what I am seeing
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Part gut, part what I've been seeing in the market and hearing from the floor.
 
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