SHORT oil here

A bull flag is usually formed on decreasing volume...

Weekly chart shows distribution

Daily chart also confirms distribution - look at the down days compared to up days...

Weekly chart on this post ... daily chart on the next...
 

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Daily chart also confirms distribution.... this is a very speculative play... but it looks like distribution/retracement phase to me...
 

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Nice analysis. I agree that if it breaks down current levels, the next support on a weekly chart that I see is around 35-37.

But I just can't be bearish on oil (or gold) these days. We shall know within a few days if XLE will make it.
 
Quote from 4XIS4U:

Daily chart also confirms distribution.... this is a very speculative play... but it looks like distribution/retracement phase to me...



interesting, thanks for the insight. i am locked and loaded to go short in a HUGE way very very soon. stay tuned.....

:D
 
holding volatile oil short at this time. positive aprox. .45 had 1.45 positive move max on trade thus far. holding awaiting break down.
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<p><i>open up the borders to the river running green, 'cause i got traunches
full of dollars to trade for gasoline.....</i></p>

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