Uptrend triangle. Stop loss at resistance.
Crude Oil has been performing well over the 2016; and it seems like the rise will continue. Eyes are on $55 for the 1st target; just under $60 for target 2; and just under $70 for target 3. The wave has printed some nice supports and it seems like it has been unaffected by the recent strength of the dollar. We're either correcting from the last huge downward...
News headlines will force changes to the numbers... I don't expect us to brake out of the channel to either side though. Good Luck
Big Hooley on the horizon. With most dudes wanting...no needing a higher price, all the Hodads are working overtime to help the cause. But the smell is bad, there could be a red tide coming. Just be careful of this current set. Looks like a Teahupoo too me. Not for the paddlepuss on foam, big board conditions. How many working dudes need oil higher to keep...
Back in the days of swing ... this was an inverted cup and handle. It was not a bullish sign. Today our computers can back check our our predictions, Algos, and ATMs. As they give us micro second opportunities. If my trading action happened at the speed of humming bird wings, my heart would explode. If you play against the herd, stay short into the weekend....
Saudi Arabia controls the price of oil. Once you understand that, all technicals need to include variables for real world political manipulation of the worlds most important commodity. .... "Church of Krümel" Back in the day, there was a King, he turned off the blood supply to the industrial world. The world went into chaos, wars started... wars stopped. In the...
If you failed to make money this month, you either fought the tide looking for small gainsand lost or you need a new Tiki, ..... cuz this blow was forecasted all month. As today shows, old school big guns can hold the curl. The end is coming... just not this week. Daily swings can be 8%+ . And I betting we will see a few days with those moves.... Short to sub...
Every month there this point... Almost like a lunar cycle, where the army of optimists run out from under their cover to catch the enemy's blade. But not unlike the charge of the Light Brigade...the clearing smoke will uncover the carnage. As I said yesterday. We are in for some crazy days. But let's not think we can see things others can't. And don't be fooled...