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
Quote from JSSPMK:

I see another push towards breaking $100 in the making, 240's MACD will eventually indicate retrace that may lead to reversal (I certainly haven't got a clue whether it will), but at the moment 180 chart is showing a bullish pattern.
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Ouch
 
Quote from smilingsynic:

After the report today, crude dropped, rallied, hung around the pivot, and dropped like a rock to S1.

Not particularly bullish action.
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It did break $100 to 102+ from 98 though :)
 
Quote from usman88:

bearish divergence on 4 hour chart
i believe prices will hit $97 within 1/2 days
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I see it too & IF it works then I see 92, but I look at multiday & weekly, they make me think that we could be entering different times where oil is very expensive, don't get me wrong I hate the idea of this happening.
 
Quote from JSSPMK:

I see it too & IF it works then I see 92, but I look at multiday & weekly, they make me think that we could be entering different times where oil is very expensive, don't get me wrong I hate the idea of this happening.
More...

This rally seems very suspicious to me. I'm not in either way right now but after yesterday's action I have turned more to the bear side I think. This additional upside movement could be a good selling opportunity. We'll see where it goes.
 
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