I think crude oil is short term swing trade at this point, I
think that rising wedge will play out on the daily commodity.
Ultimately since crude oil broke symmetry on the rally
(largest rally since the decline from the 2014 highs, I think it
will form a higher low and be another buying opportunity, but the
wedge conservatively measures about 7 points.
this Stockchart version is of course not updated, not reflecting
today's sell off yet, note the conservative measurement
nice ride so far mia
SCO
Posted by matt on 10th of Jun 2016 at 03:06 pm
nice ride so far mia on SCO
I think crude oil is short term swing trade at this point, I think that rising wedge will play out on the daily commodity. Ultimately since crude oil broke symmetry on the rally (largest rally since the decline from the 2014 highs, I think it will form a higher low and be another buying opportunity, but the wedge conservatively measures about 7 points.
this Stockchart version is of course not updated, not reflecting today's sell off yet, note the conservative measurement
SCO
Posted by mla127 on 10th of Jun 2016 at 03:16 pm
Who doesn't like a "wedge" with a Corona .... it's Friday after all !!!! lol