CL Redux

[Laissez Faire]

Quote from EON Kid:

??? can you post a chart

120 minute.

 

[ammo]

bottom of that nip is 1.2712

 

[EON Kid]

Quote from Laissez Faire:

120 minute.

gotcha, thx

 

[Laissez Faire]

57 cent retrace complete.

Now, the million dollar question: Consolidating before the next push up or turning around here?

Think I just got the answer.

 

[Laissez Faire]

Will be shorting 50 with a super tight stop. Should turn around there if lower now.

IMO.

 

[tomahawk]

Quote from Laissez Faire:


Don`t you think there is a good possibility that we`ll slide even further than that if higher time frame players wants continuation to the down side?

Absolutely, quite possible. Hourly chart is very bearish imho, after the rejection of 95.30 area.

Only thing giving me pause now is indices are bullish (big hammer on ES hourly). So who knows.

 

[ammo]

Quote from Laissez Faire:

Will be shorting 50 with a super tight stop. Should turn around there if lower now.

IMO.

your prev chart looked like a bear flag

 

[Laissez Faire]

Quote from ammo:

your prev chart looked like a bear flag

Indeed, ammo. Indeed.

Triangulating here on the 1-minute now. Where from here?

Flip a coin I guess.

PS: Would bet on below, but really not convinced of it to be honest. Any takers?

 

[Laissez Faire]

Quote from Laissez Faire:

120 minute.

Update.

Will we see new lows?

 

[Laissez Faire]

Indices looking due for more down side and with crude oil below average range, I would bet on more down side here as well.

A test of 93,65 perhaps?

I`m thinking if we trade down there, we could drop even further.