The US Dollar index has held its 20 day MA and could try and
press higher toward 85. It will be interesting to watch the
S&P and see how the broad market reacts if we do see a dollar
rally.
regarding your question on BOIL, the 15 min chart gave a quick
trade for a couple days, but obviously that tiny inverse H&S on
the 15 min chart didn't play out, I was not in love with that as
the 60 min chart didn't look that hot and the bounce was on light
volume. Also when you look at the 60 min chart, the downtrend
line was too steep to sustain more than just a small
bounce,
Now BOIL obviously looks like it is going to take the the lows
from early June. Now on a new low notice that the MACD is
lagging and will probably form a larger positive divergence.
On the daily chart, the 50 day MA is now resistance.
Personally I have no interest in BOIL at this time, though I
will keep an eye on it and if a pattern sets up again, I'll let you
guys know
US Dollar
Posted by tom on 7th of Jun 2012 at 10:45 am
The US Dollar index has held its 20 day MA and could try and press higher toward 85. It will be interesting to watch the S&P and see how the broad market reacts if we do see a dollar rally.
Tom thanks for the chart
Posted by morton13 on 7th of Jun 2012 at 11:39 am
BOIL just dropped close to 10% ove last 15 mins?
Posted by sherrijones on 7th of Jun 2012 at 10:59 am
Title: BOIL in the crapper http://stockcharts.com/h-sc/ui?s=BOIL&p=60&b=5&g=0&id=p01802290700&a=269011625
Posted by darnelds on 7th of Jun 2012 at 11:44 am
http://stockcharts.com/h-sc/ui?s=BOIL&p=60&b=5&g=0&id=p01802290700&a=269011625
What do you think of
Posted by falcon5678 on 7th of Jun 2012 at 11:59 am
What do you think of the BOIL in here Matt? I know you were looking for a H&S.
regarding your question on BOIL,
Posted by matt on 7th of Jun 2012 at 12:22 pm
regarding your question on BOIL, the 15 min chart gave a quick trade for a couple days, but obviously that tiny inverse H&S on the 15 min chart didn't play out, I was not in love with that as the 60 min chart didn't look that hot and the bounce was on light volume. Also when you look at the 60 min chart, the downtrend line was too steep to sustain more than just a small bounce,
Now BOIL obviously looks like it is going to take the the lows from early June. Now on a new low notice that the MACD is lagging and will probably form a larger positive divergence.
On the daily chart, the 50 day MA is now resistance. Personally I have no interest in BOIL at this time, though I will keep an eye on it and if a pattern sets up again, I'll let you guys know
natural gas inventories bearish
Posted by zach06 on 7th of Jun 2012 at 11:09 am