Im shaking. Oil is going to fail resistance, its a 60% chance now. No emergency OPEC meeting, then it goes to 50 dollars which is next point of possible resistance...
Oil going to fail resistance, 60% chance
- Thread starter thehangingman
- Start date
There was huge volume the last 30 minutes. Im hoping this is just manipulation to shake the weak hands. The chart looks like a waterfall selloff from 57.50. Its lost nearly a buck fifty in an hour...
50 cents more and we hit huge stop-loss orders taking it down to 50 dollars or less.
This is what I am looking at. Notice the huge volume last hour came in from nowhere on no news.
it almost looks like 1 big player is trying to move the market down to trigger the 'cascading stop' effect.
everyone is expecting there to be a trigger point that will start the selloffs of selloffs to the next leg down. i wonder if there actually is ... never know - the market's -big- stops may have moved down to 50-53 already.
remember one more thing - every time a rush to kill stops occurs, it drives the avg cost basis lower on longs re-entering at lower levels... support thickens, of course until news hits.
I cant look. Now its a small dead cat bounce and I can see an imaginary down arrow at the end of that line. There she goes. See you later 55 bucks...
I have a clue. However, Im afraid that if I type it out that it might come true.