CL Redux

Quote from Speciaul_K:

Anyone know the whole report? Build or draw in rbob and ho?
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the Energy Information Administration said that oil inventories rose by 2.4 million barrels last week, which was larger than expected. Gasoline inventories were up 2.32 million barrels, while distillate fuel stocks fell by 356,000 barrels.
 
Quote from usman88:

Stopped out at 72.73 for a loss of 67 ticks per lot
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Im seeing that the trendline that was broken 2/5 was support today. I think im done for the day, this market has no clear trend in my eyes. Least I made money 2day
 
Quote from schizo:

<s>We should be hitting 72.50 or thereabout in no time. That should mark the low methinks.</s>

Scratch that.
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As silly as this might sound (when was it not?), I guess my broken crystal ball was correct after all. LOL
 
So when I was asking ealier on Friday if old trendline were of any use. The answer is yes they are. Fridays low was the trendline from 7/13 - 12/14
Anyone have a bias for this week?
 

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Quote from ammo:

possibilities, my bias is that eur usd will make a 3rd leg down ,and as the dollar rises ,oil falls
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I agree about the euro but its been falling for awhile and oil seems to have detact from it. Right now everything seems torn, we get big selloffs then buying steps in. So I guess who runs out of money first will determine which way the markets going to go.:confused:
 
I dunno, it looks more like a DT than H&S to me. Either way, they're both bearish. But then again, this might be the start of a rangebound market. Who knows? We could go right back up to 84 again. Personally, I'm feeling more bullish at this stage in the game. My broken crystal ball sez there's a good chance we revisit 80 although I ain't betting on that lunatic call. :D
 
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