Crude oil < $71 is a S. Stop 72.43

We are in the 3rd wave from that breakout at 62. Remember the rule of 10 from back in the day when this thing would move 10 bucks a week!

Although the stupid dollar appears to be rolling over so that could give it the juice to get to 74. It only matters when it matters.... how the heck can the dollar and oil move like this. Big oil is printing cash!

 

I think the bigger resistance level for crude oil is $75

 

from 6/21 low we now have w-5 = 2.618x w-1. Note the perfect hit at 1.618. Break 71 its Adios

 

Um, Mav, I believe "big fella" is a she. Details, details. And she may have post envy.

 

up

 

i believe the big she is right. oil will likely break below 71 target could be around 69.
this is first time am seeing the oil chart i trade only eurusd M1

but i would only sell below the low at around 72

 

but i am a safe trader i look for confirmation so i would sell only below the low at around 72

 

any one know what happened to oil and is not averse to telling me?

 

Dont know what has happened but I opened a long position yesyerday before the close...

 

can you post a chart....5 min