Started this thread two months ago and Crude is still sliding. Should be a bounce in here somewhere, or do we have to wait till January.
A friend of mine mentioned to me that Crude has just broken out of a downtrend triangle. I just don't see that yet, I see the downtrend intact. I'll post both charts!
Maybe, nice charts. If this happens, well that would be good-Its easier to plan something if youve already figured out the criteria your happy with. :eek:
Nice chart! In a previous post I noted two price pivots: one around $56, which the market is playing with now, and the other near $52. Would a break approaching the $52 area fit your criteria? Tony
It sure would, ive been really surprised by the continued downmoves recently, really missed the boat there. Just cynical, oil men running things. But you can really see the amplitude is about right, and the short time divergence was pretty obvious for a turn, this base could end up holding? Its always tough to call things, but crude tracks my indicators nicely, ill be watching it. Just looking through some old paper trades, bought crude at $38 !!:eek:
That's good because I prefer double divergence bottoms: a failed rally here and then another new low-with higher momentum. A breakout above the downtrend channel would also help, as long as it is a gap breakout and not some flag pattern. Seasonally is it time yet? Late-December early-January? Just a few thoughts
cRUDE ... are we getting a break out, or building a bearish flag? It needs to get going quickly to avoid the flag...
cRUDE got whacked yesterday, just when it looked like it was about to get something going: helped the equity market rally. An aberation? A retest of $56, or a breakdown to the next pivot at $52? Where's the seasonality guys? Shouldn't cRUDE be preparing to rally into January?
I do not think I made any money in crude during November or December 2005. Prices are so choppy I just win lose win lose win lose. I hope a trend appears.