Technical outlook on Crude

What do you think?

  • Agree

    Votes: 23 53.5%

  • Disagree

    Votes: 14 32.6%

  • Don't know

    Votes: 6 14.0%
  • Total voters
    43
Hopefully (:)) price will stop at previous upper TL which was resistance, hopefully (:)) it will now provide support, Daily chart is in early stages of bullish bounce/reversal ImO.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1787169>
 

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SHIT!!!!!

Taken profit +$7.5 and change

Looking at 240 I would say that I pulled trigger a bit early on locking gains, I do expect it to head towards $100, but these sort of spikes are faded on many occasions, I couldn't resist the gains after 61.8% fibs was hit
 
Visual of the final result

As it stands we now have 7 for & 10 against & 4 neutral

Bloomy posted their own poll of analysts opinions on this week's p/a, it was

2 - Rise

5 - Neutral

25 - FALL :)

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1787396>
 

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Outcome related to Chavez, bloody hell, really? His timing was extremely in line with footprints that buyers have left on that 240 chart. LOL


<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1787587>
 

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by looking at how the market is behaving 100 looks like a childs play but let me tell you that ALL fundamentals are bearish and I am expecting a drop and my gut feeling says that this drop will be the biggest ever.
 
Quote from usman88:

by looking at how the market is behaving 100 looks like a childs play but let me tell you that ALL fundamentals are bearish and I am expecting a drop and my gut feeling says that this drop will be the biggest ever.
More...

Do you remember the .COM days when fundamentally all those stocks were absolutely ridiculously overpriced, I know this is a commodity, but come on man, we have to see distribution via technicals to narrow down the point in time when people that drive these markets also agree with your fundamental outlooks. As it stands, I view the Daily chart as bullish, can we see a right shoulder form, complete and trigger decline? Of course Yes! On most occasions there are indications/footprints left on chart to see that distribution/accumulation has started, right now I don't see a start of a decline, be it a retrace or a total melt down (I would love to see it go down, fed up with these fuel prices in the UK)

TY Increasenow!
 
well I am 21 years old and have started trading only a year back and thus dont know about the dot com days and dont trade stocks either( in the US markets)
Here I must say that I am not saying that market is going down....I just said to remain careful.
I am also a daytrader but it always pays to look at the fundamentals

IMO the bull run is limited till wednesday 1030ET
I maybe wrong...lets see
 
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