Technically, our long target once price broke back up through the 20 with a vengeance should've been around 90.08 (last S becomes R). Sure enough that's about where it turned. I believe CL is traded entirely by bots (and us)
it is common sense. We saw this with crude many times . with so much tension around Suez canal where more than 50% of OIL transport day in day out , what do you fear on a Friday with OIL - SHORT at 91 at day high ( I fear this one ) - LONG at 89 after $2 drop from day high
Retrace , Reversal and Close at 8975 on the dot as forecasted now I should apply for Goldman sachs commodity trader post <<<<<<<<<<<<<< Quote from InvestVision: Reversal from .96 so we likely to see 90.00 I see 2 paths A). Reversal tp 8950. Then close 9075 B) reversal to 9000 then close. 9145 >>>>>>>>>>>>>
To all the folks on ET who insist that the market is totally random, that technical analysis is meaningless and doesn't work, and that there is no way to truly have an edge in trading, I offer this explanation of my ability to have predicted this morning's price action yesterday: Schizo's broken crystal ball