CL Redux

[Visaria]

Quote from EON Kid:

04/11/2012 10:30 *DJ DOE: US Crude Oil Stocks +2.791M Bbl In Wk; Seen +2.2M Bbl

Bearish, right? More crude stocks than thought.

But market went up....

 

[EON Kid]

Quote from Visaria:

Bearish, right? More crude stocks than thought.

But market went up....

sentiment was very bearish. so accumulation / squeeze


also 04/11/2012 10:30 *DJ DOE: US Distillate Stocks -4.0M Bbl In Wk; Seen -0.2M Bbl seems a little large, don't know how significant it is

 

[Zr1Trader]

Quote from achilles28:

I noticed during RTH, even a 1 minute can give a lot up... Very fast....

That's why we love the beast

Also, if you play around with different, Volume, tick, or range charts you can smooth out and refine the action to your liking pretty well.

When it gets really volatile even a 1 min can get really long and hard to read the refinement of the action.

Good trading to everyone

 

[Lornz]

Quote from achilles28:

Call me a slow learner. What time frame do u use for cl?

CL moves much too fast for time charts....

 

[EON Kid]

Quote from Lornz:

CL moves much too fast for time charts....

so what do you recommend?

 

[tomahawk]

Quote from Lornz:

CL moves much too fast for time charts....

And yet channels and TL's based on time charts are very influential to the movements of CL.

 

[riskaddict]

just sell the fu%$ out of it.

 

[tomahawk]

Quote from riskaddict:

just sell the fu%$ out of it.

It's coming off a 10-pt run (110.75-100.75), so we may see a retrace to 104-105 first, imho (if it can get through the hourly 200ema right here).

 

[Visaria]

long 10300

 

[EON Kid]

Quote from riskaddict:

just sell the fu%$ out of it.

seems to be drifting up 2day on the rally of the indices. Last Thursdays high at 103.40 seems a key resistance level.