CL Redux
- Thread starter schizo
- Start date
91 cent swing completed.
Possible trend line support here. If not, back to 20-30 I would guess.
But I would bet on new highs eventually.
Possible trend line support here. If not, back to 20-30 I would guess.
But I would bet on new highs eventually.
Over the next week or two, oil is getting itself ready to make a major low. It may have hit its low already, but it's possible for oil to go as low as $87, if it ultimately wants to go higher. If it crashes far below $87, it'll still have a bounce in it, but eventually it will probably go lower.
If it makes its major low above the $87 area, I think oil will go back up to the $110-$115 area and eventually break out higher over the next few months.
Unfortunately, I never swing trade oil, so this isn't of much help to me, lol. But the charts have me tempted to make a swing trade just this time.
If it makes its major low above the $87 area, I think oil will go back up to the $110-$115 area and eventually break out higher over the next few months.
Unfortunately, I never swing trade oil, so this isn't of much help to me, lol. But the charts have me tempted to make a swing trade just this time.
Quote from Laissez Faire:
91 cent swing completed.
Possible trend line support here. If not, back to 20-30 I would guess.
But I would bet on new highs eventually.
LF just curious ... what is your real-time criteria to judge whether a swing has completed, or is it not that important in real time?
Right now, I simply expected the prior HOD to act as support on the pullback, which it did.
As for when a swing is completed, it`s just anticipation based on chart reading and price levels where I expect price to react.
Watching for a reversal around the dollar mark is the most obvious one.
Quote from Laissez Faire:
Right now, I simply expected the prior HOD to act as support on the pullback, which it did.
As for when a swing is completed, it`s just anticipation based on chart reading and price levels where I expect price to react.
Watching for a reversal around the dollar mark is the most obvious one.
I see ... gracias.
Not sure if it`s helpful, Tomahawk, but at least that`s how I look at things currently.
Looks like we`re working a larger flag here, IMO. Breaking out at 50 should confirm further upside if we pick up momentum, no?
Range is only 91 cent, so we need to expand some where. Most likely at least.
Looks like we`re working a larger flag here, IMO. Breaking out at 50 should confirm further upside if we pick up momentum, no?
Range is only 91 cent, so we need to expand some where. Most likely at least.
Not liking the lack of momentum, but I`ve been fooled before. Needs to clear 60 and 67 now so that we can get paid.