OIL head and shoulders

Once OIL breaks $63 we will have a head and shoulders top in place...

I would not be heavily long oil stocks right now...


--MIKE

 

Funny, I looked at an oil chart for the first time in a while this morning and I thought the same thing... I'm not much of a TA guy however, more of a T & A... but that's a different story I suppose.

-The New Guy

 

Chart does say $63 is key support..

 

Hey, if you look really close, you can DEFINATLEY see a head and shoulders!

-The New Guy

 

LOL

 

its interesting to note that Oil has traded down from it's opening price in 15 of the last 19 days.

 

guess there has been alot of people anxious to sell

from the 68 -70 area ...

and yet so far ... oil keeps bouncing back?

-its interesting to note that Oil has traded down from it's opening price in 15 of the last 19 days.-

 

EXCELLENT !!! LOL

 

When crude breaks, stocks (not oil stocks) will really move!

 

It probably once again has no meaning.