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
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regarding your question on BOIL,
US Dollar
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