CL Redux

Quote from NoDoji:

OK, I've annotated my daily chart to show what I meant by channel breakout. You are correct in that oil met resistance several times as it tested the upper channel/trend line (UTL) of the channel, but Monday broke out. Technicians view that move as a channel breakout or a bull flag continuation breakout as described here:

http://www.daytradingcoach.com/daytrading-technicalanalysis-course.htm#7

So if I was swing trading, I'd be long and looking for a minimum profit target of at least a measured move equal to the range of the last run up prior to the bull flag formation, which takes us to around 106.62.

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Nice analysis.:)
 
What do you think? Sell the Greek news as we assume an agreement will be reached, but we don't know the details which may be worse than expected?
 
Quote from NoDoji:

Yeah, I fell asleep on my keyboard, too. :p :p
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What? I thought you bought the breakout at 105.40 this morning and are now in the house of pain. Even Rush Limbaugh's dosage of pain killers can't make you sleep. :D
 
Quote from beachhouse:

What? I thought you bought the breakout at 105.40 this morning and are now in the house of pain. Even Rush Limbaugh's dosage of pain killers can't make you sleep. :D
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:p :p

I had one decent trade all morning and several b/e. Doing nothing right now. In fact, I'm stepping away from my desk now...
 
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