I'd rather short a bounce, really
support is about $120 - $121.5 on crude itself, we'll see, maybe it
doesn't bounce, but for now it's still above support on the crude
chart (not the ETF). Momentum traders could have shorted 1st thing
this morning, but now the risk/reward is not as good for swing
traders. Let's see what happens.
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matt
DZZ Ultra Short Gold - Was discussed yesterday and is ...
Posted by dylan398 on 29th of Jul 2008 at 10:11 am
OIL that you posted yesterday broke..are you a buyer or waiting for a shoulder??
looks like we may have a shoulderless....head and shoulder pattern
I'd rather short a bounce,
Posted by matt on 29th of Jul 2008 at 10:22 am
I'd rather short a bounce, really support is about $120 - $121.5 on crude itself, we'll see, maybe it doesn't bounce, but for now it's still above support on the crude chart (not the ETF). Momentum traders could have shorted 1st thing this morning, but now the risk/reward is not as good for swing traders. Let's see what happens.