Time to Short Oil

[gharghur2]

Crude:
Black gold made a serious pullback this week jeopardizing its uptrend, but thus far still looks higher.

 

[GlobalFinancier]

Down, below $70 already.

 

[Foz]

Quote from gharghur2:

Crude:
Black gold made a serious pullback this week jeopardizing its uptrend, but thus far still looks higher.

What would cause you to sell, gharghur? Crude has notched another dollar lower today. Is crossing the 35 day ema on your chart significant?

 

[gharghur2]

It just closed that acceleration gap so it doesn't look good.

I'm surprised it has another failed fifth wave, just like the last rally.

 

[libertad]

Nice move today.....

 

[gharghur2]

Crude failed to break on the recent selling, and now looks ready to make new highs. It's chart looks awefully similar to the CRB which made new highs today.

 

[whitster]

the term "objective elliot wave" is a complete crackup

lol

 

[gharghur2]

Yes I know sounds like an oxymoron, thanks to the popular Ewer's.
But my technique is a quantitative determination of the significant waves, and is not subjective.

 

[gharghur2]

Crude is looking better already.
$80 next?

 

[traderguy02]

honestly i think the recent move up has been a spec push through all the shorts on the recent bearish news...