we have a diaomond top formation at that top... it test the high, fell steeply, but boucned back in seconds, but then was rejected again... and so i that was enough to get sellers in this should collapse. it rose form ealier cos the dow rose 50points in few mins im now so sooo gutted taht i didnt hold my dow longs from 6400s!!!! :eek:
WHooo there is some sharp selling and rejection of making new highs going on now!! i dont get this though, who the fuck even makes trades when there is a 10ticks rnage for hours??!! :eek:
im selling here to many sellers highs are not happening for now, might test them again in NY though but for right now this thing might go in the red
yikes oil is really moving extremely volatiley now.. :eek: it just dropped 20ticks in a raction of a 2secoond, or artaher the entire range for the last 16hours, dropped in 1/16 of a second. :eek:
Yeah I never understand the pre-open trading activity, as its seems really random, but I suspect its mostly driven by arbitrage with Brent Crude market during pre-open hours. I want to go short again today, but keep getting cold feed. OIL is so strong these days.
i have put a screenshot to show what oil is looking liek now overall. (Whiel it does look like its been rising, it actually hasnt) Since the beauty of te lines is that teh factor in time, not just price. And so when the price was 53.30 2hours ago, 2hours later that same 'strength' of price should now be 53.40 And so even thoygh it looks liek oil rise 10ticks, it actually has merely held teh exact same strength. I circled teh area in red, and if that lower lien breaks this will collapse
GRRRR once again it hit that double line cross that i mentioned, now that is at 53.36, but again it held. and so its again testing that high.
I wonder where all this buying interest is coming from. I mean, it was only last month that people were talking about gloom and doom with demand destruction on the horizon.
exactly. every investment bank out there and every singel analyst who went on bloomberg was hapring on about how oil was going under $25!! :eek: And so if they did actually sell oil for their portfolios they are down over 100% nearly! since instead of going under $25 its over 100% higher than that. And every single expert out there said it would be an 'L shape' recover for the dow, NOT 'V shaped'. So i seriously dont get how these idiots mange to keep their jobs while so many other peopel are unemployed