Looks like a bear wedge with MACD weakening.
Alternatively, could have been a break from a triangle,
consolidation, and a new leg to come as seen by the dashed yellow
lines.
oops1e, I've a similar chart, where if 109 doesn't hold, then a
test of 107.25 is likely and if that doesn't hold then a test of
103 area is next on the test.
You can see that in the red lines draswn on the chart below.
crude in the middle... try to catch a breakdown or breakout.
If things settle down in the middle east.. I
hate to be on the long end. I will be waiting for the mice
to exit!
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Crude Futures (4hr)
Posted by oops1e on 6th of Apr 2011 at 10:51 am
Looks like a bear wedge with MACD weakening. Alternatively, could have been a break from a triangle, consolidation, and a new leg to come as seen by the dashed yellow lines.
Any of you crude followers have an opinion??
Similar results
Posted by klatuu on 6th of Apr 2011 at 11:06 am
oops1e, I've a similar chart, where if 109 doesn't hold, then a test of 107.25 is likely and if that doesn't hold then a test of 103 area is next on the test.
You can see that in the red lines draswn on the chart below.
Klatuu
Hard to play crude
Posted by zach06 on 6th of Apr 2011 at 10:58 am
crude in the middle... try to catch a breakdown or breakout. If things settle down in the middle east.. I hate to be on the long end. I will be waiting for the mice to exit!