CL Redux

There's the down side of waiting for "second mouse" entries. Sometimes you don't get that nice little revisit to the breakout level :mad:
 
Quote from Totalizator:

Thanks No doji.. I am just really stressed today!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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It's not been an easy day, lots of whipsaws unless you just position yourself and trust the trade, not easy to do with this action, and I thought I was the Grand Buddhist of CL trading!
 
There's a lot of time frame conflict, instead of confluence.

Daily chart is way "overbought", hourly chart is on the flat 20 EMA and so here we are getting to play with pure indecision on the smaller time frames.
 
Quote from InvestVision:

104.80 - triple bottom
105.80 - triple top
what a symmetrical range bound action today
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There's a verrrrry slight up-tilt to the channel. Could become a giant bear flag if this breaks, still a measured move candidate then.

But a damn bid at every support level!

Measured move down from here 103.66??
 
some thoughts on the Libyan events

1/ It seems US govt. talk of tapping into Strategic OIL reserve is weighing little bit on down side.

1.2/ On the Saudi Stock Exchange, known as the Tadawul, the All Share Index climbed 3.27%.
( this is negative for oil , indicating violence spread to Saudi Arabia down played a bit for the day )

2/ and also , NATO action is almost ready when Libyan govt. attacks rebels by air rides ( so far air rides are on assets and to scare Rebels ) , gaddafi know this and also Rebels know this with today NATO and Obama statement.

3/ Now Libyan rebels may be more energized knowing gaddafi govt. is cautiously avoiding human life while attacking them with Air rides.

4/ time is running out , with any Libyan rides with human life loss ( big way) will trigger semi NO-Fly zone , meaning bombing all Libyan air port run ways destroyed by NATO.
Once all Run ways are destroyed and NO-Fly zone on just Tripoli Airport ( only left runway ) will TRAP gaddafi family in the country , even closing the option of escaping from the country.

5/ either way it seems, big traders are figuring out the game is coming to close, once gaddafi falls this week , Friday OIL price is around 95 .
( may be I am fast forwarding events too fast :D )
I guess some big spec may be liquidating SOME of their LONGS ...
 
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