Today Crude bounce end of downtrend or end of moth short covering?

Discussion in 'Energy Futures' started by e-miNY, Oct 31, 2006.

Why late day 1.00+ rally in 30 min?

  1. End of month short covering

    6 vote(s)
    66.7%
  2. End of bear market

    3 vote(s)
    33.3%
  1. e-miNY

    e-miNY

    What do you think?
     
  2. among other things (like most instruments) it depends on yer timeframe, too

    on a 5 yr weekly chart , crude is clearly in an uptrend, and pretty much has retracedexactly at its trendline now, which offers a decent risk/reward entry for the trend-following type of trader
     
  3. e-miNY

    e-miNY

    Ok, say 3 months! We've been done almost every single day in the past 3 months.
    Are we putting in a low in the next 3 months just based on the violent action of today's close?
     
  4. BCE

    BCE

  5. e-miNY

    e-miNY

    Coz no poll.
    I am interested in knowing what people think about the rally. Please start a poll in your theard then we can close this one down. Thank you!